BTC/USD plunged further on Tuesday, falling to $678.91 levels before recovering to $698 levels at the time of writing.

The pair has broken major support $700 and is trading well below Tenken-Sen and Kijun-Sen. Ichimoku analysis (4 Hour chart):

Tenkan-Sen level: $743.90

Kijun-Sen level: $742.60

Trend reversal level - (90 day 4H EMA) - $674

“BTC/USD is trading weak and is expected to decline till $655/$620”, FxWirePro said in a statement.

Major resistance is around $710 (55 4H EMA) and any break above $710 will take the pair till $749 (221 4H MA)/$778. On the other hand, short term support is seen at $674 (90 4H EMA) and any violation below will drag the pair till $655 (Jun 13 low)/$620 (1.27% retracement of $655 and $778).