BTC/EUR is seen slightly trading above on Tuesday. The pair has taken support near 55-day EMA and slightly recovered from that level (COINBASE). It is currently trading around 548.36 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 542.69

Kijun-Sen level: 545.06

Trend reversal level - (100 days MA) – 556.84

Long-term trend remains to be bullish. In the daily chart, the pair is trading well above Tenkan-Sen and Kijun-Sen. It should break below 55- day EMA 540 for further weakness.

Major resistance is around 557 (100- day MA) and any violation above will take the pair till /575 (50% retracement of 715 and 434.78)/600. Short term support is seen at 541 (55- day MA) and any break below targets 536.50 (61.8% retracement of 551.99 and 527.04)/527 (Sep 22nd low)/513 (38.2% retracement of 434.58 and 562.30.