BTC/EUR is consolidating in a narrow range for the past three trading session after the huge sell-off on Mar 10th 2017. The pair jumped almost near to 1200 level from the low of 920 (COINBASE). It is currently trading around 1183 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1135

Kijun-Sen level: 1135

Major reversal level -960 (89- day EMA)

Long-term trend remains to be bullish. The pair downside is capped by 23.6% retracement of 920 and any minor weakness can be seen only below that level.

Major resistance is around 1185 (61.8% retracement of 1350 and 920) and any break above will take the pair to next level till 1236 (Mar 2nd high) /1350 (Mar 10th high)/1405 (113% retracement of 1350 and 920). Short term support is seen at 1123 (23.6% retracement of 920 and 1188) and any break below will drag the pair till 1087 (34- day EMA)/1047 (50% retracement of 920 and 1350)/960 (89- day EMA).