BTC/EUR retreated after hitting all-time high of 1742 on May 11th 2017 high (COINBASE). The pair has shown a minor dip till 1476. It is currently trading around 1582 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 1578

Kijun-Sen level: 1429

Major reversal level -1450 (21- EMA)

Long-term trend remains to be bullish. BTC/EUR downside is capped by 21 – EMA and any break below confirms minor weakness, a dip till 1343 (May 4th 2017 low) is likely.

Major resistance is around 1750 and any break above will take the pair to next level till 1835 (161.8% retracement of 1742 and 1591)/1943 (261.8% projection of 826 to 1160 from 1069). Short term support is seen at 1566 (10 –day MA) and any break below will drag the pair down till 1429 (daily Kijun-Sen)/1343 (May 4th 2017).