BTC/USD is seen trading well below in red on Tuesday. The pair has drastically after making a high of $662 levels (BITSTAMP) yesterday. It is currently trading at $646 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: $664.59

Kijun-Sen level: $655.24

Trend reversal level - (90 EMA)-$593.84

The long-term trend remains to be bullish. BTC/USD trades well below 21 days MA ($660). So a decline till $630/$605 is possible.

Major resistance is around $655 (daily Kijun-Sen) and any break above targets $665/$685 (Jun25th high)/ $705 (Jul 2nd high). Short term support is seen at $645 (Jul 22nd low) and any violation below will drag the pair till $630 (55 days EMA)/$605 (Jul 7th low).