BTC/EUR has recovered slightly after making a low of 2321 levels (CEXIO). Intraday weakness can be seen only below 2334 (55- 4H EMA) level. It is currently trading around 2511 at press time.

Ichimoku analysis 4-Hour chart indicates:

Tenkan-Sen level: 2431

Kijun-Sen level: 2412

Major reversal level -1940 (200- 4H MA)

Long-term trend remains to be bullish. BTC/EUR downside capped by 55-EMA and any further weakness can be seen only below that level.

Major resistance is around 2675 (May 25th 2017 high) and any break above will take the pair to next level till 2778 (113% retracement of 2675 and 1940)/2800. Short term support is seen at 2334 (55 - EMA) and any break below will drag the pair down till 2233 (89- 4H EMA)/2000.

It is good to buy on dips around 2350 with SL around 2220 for the TP of 2670/2778.