BTC/EUR is seen trading slightly below today. The pair has recovered after showing a slight dip till 693 levels (COINBASE). It is currently trading around 703 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 679.62

Kijun-Sen level: 662.37

Trend reversal level - (100 day MA) – 578

Long-term trend remains to be bullish. In the daily chart, BTC/EUR downside is capped by 10- day MA, and any break below confirms minor weakness.

Major resistance is around 715 (161.8% retracement of 673 and 610)) and any violation above will take the pair till 740 (161.8% retracement of 714.95 and 673). Short-term support is seen at 686 (10- day MA) and any break below targets 679 (daily Tenken-Sen)/666 (21- day MA)/ 634 (Nov 13th low).