BTC/EUR hits once again all-time high at 1742 yesterday and has shown a minor profit booking after massive rally. The pair has shown a minor dip till 1591 levels (COINBASE). It is currently trading around 1648.45 at the time of writing.

Ichimoku analysis of daily chart states:

Tenkan-Sen level: 1537

Kijun-Sen level: 1424

Major reversal level -1392 (21- EMA)

Long-term trend remains to be bullish. BTC/EUR downside is capped by 7 – day MA 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 1543 (7 –day MA) and any break below will drag the pair down till 1424 (daily Kijun-Sen)/1392 (21- EMA).