BTC/USD failed to break above 100-DMA and has slipped below 10-DMA. It is currently trading at 606 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bearish

Ichimoku analysis of daily chart:

Tenkan Sen: 605.19

Kijun Sen: 610.54

Trend reversal: 597.48 (90 EMA)

“The pair has taken support near 604.84 (21-DMA) and is trading slightly above this level. Short-term trend appears bearish and a close below 21-DMA could a dip till 597.48 (90 EMA)”, FxWirePro said in a statement.

Major resistance is seen at 615.42 (100-day MA) and a break above would see the pair testing 628.99 (September 11 high) and then 651.79 (161.8% retracement of 628.99 and 592.10).

On the reverse side, the pair will find support at 604.84 (21-DMA) and a break below would target 600 (psychological levels)/ 597.26 (90 EMA)/ 578.39 (161.8% retracement of 592.10 and 614.28).