BTC/EUR is seen trading below in red on Thursday. The pair is trading flat between 519 and 5008.17 for the past three trading session (CEXIO). It is currently trading around 511.54 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 520.58

Kijun-Sen level: 526.05

Trend reversal level - (90 days EMA)-530.41

Long-term trend remains to be bullish. In the daily chart, BTC/EUR is facing strong resistance at 521 (38.2% retracement of 547.62 and 504.49) and slight bullishness above that level.

Major resistance is around 521 (38.2% retracement of 547.62 and 504.49) and any violation above will take the pair till 526 (daily Kijun-Sen)/536.39 (55 days EMA)/554 (100- day MA). The pair should close above 554 (100- day MA) for further bullishness. Short term support is seen at 504 (Aug 16th low) and any break below targets 480 (Jun 23rd low)/458 (200 day MA).