BTC/USD hit a fresh high of 608.37 levels on Tuesday but has failed to close above 21-DMA. It is currently trading at 603 levels.

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 600.80

Kijun Sen: 598.01

Trend reversal: 595.66 (90 EMA)

“BTC/USD is trading in a narrow range between 10- and 21-DMA. The short-term trend seems slightly bullish and the pair must break above 21-DMA for further upside”, FxWirePro said in a statement.

The pair is facing strong resistance at 607.16 (21-day MA) and a break above would see the pair testing 618.60 (100-DMA)/ 628 (September 11 high).

On the downside, the pair is holding its strength above 600 levels and any violation would target 595.66 (90 EMA)/547.77 (200-day MA).