BTC/EUR is seen facing a strong support around 560. The pair has declined slightly after making a high of 540 levels (CEXIO) yesterday. It is currently trading around 534.64 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 487.81

Kijun-Sen level: 522.75

Trend reversal level - (90 days EMA)-538.76

Long-term trend remains to be bullish. In the daily chart, BTC/EUR is trading slightly above 100 days MA. But the pair should close above 21 days EMA for further bullishness.

Major resistance is around 560 (21 days EMA) and any break above will take the pair to next immediate resistance at 591 (61.8% retracement of 689 and 427). Short term support is seen at 522.75 (daily Kijun-Sen) and any break below targets 504 (23.6% retracement of 529.50 and 427)/480 (Jun 23rd low).