BTC/EUR hits once again all-time high at 1710 after breaking the high of 1649.97 made yesterday. The pair has formed a minor bottom at 1343 (May 4th low) and nay minor weakness can be seen only below that level (COINBASE). It is currently trading around 1725.31 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 1481

Kijun-Sen level: 1359

Major reversal level -1360 (21- EMA)

Long-term trend remains to be bullish. BTC/EUR hits fresh all time –high at 1710 and a further jump till 1943 likely.

Major resistance is around 1709 (161.8% retracement of 1648 and 1556) and any break above will take the pair to next level till 1943 (261.8% projection of 826 to 1160 from 1069). Short term support is seen at 1501 (23.6% retracement of 1710 and 826) and any break below will drag the pair down till 1480 (daily Tenken-Sen)/1360 (21- EMA).