BTC/EUR is seen trading below in red on Friday. The pair has made a fresh all-time high at 1111 and declined drastically from that level (COINBASE) on account of profit –booking. The pair declined till 834 and it is currently trading around 92.29 at the time of writing.

Long-term trend remains to be bullish.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 972.61

Kijun-Sen level:918.80

Minor weakness level – 861 (30- day EMA)

Major reversal level -786 (60- day EMA)

In the daily chart, BTC/EUR declined slightly below 30- day EMA and recovered from that level. So, a minor weakness can be seen only below that level.

Major resistance is around 972 (daily Tenken-Sen) and any break above will take the pair to next level till 1005 (61.8% retracement of 1111 and 834)/1111 (Jan 5th, 2017 high).  Short term support is seen at 861 (30- day EMA) and any break below will drag the pair till 786 (60- day EMA)/740.95 (89 days EMA).