BTC/EUR is seen trading flat on Thursday. The pair is consolidating in a narrow range between 548 and 540 for the past three days (COINBASE). It is currently trading around 545.50 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 547.09

Kijun-Sen level: 534.72

Trend reversal level - (90 days EMA)-534.33

Long-term trend remains to be bullish. In the daily chart, BTC/EUR upside is capped by 10 –day MA and any break above targets 566 (100- day MA) is possible.

Major resistance is around 549.38 (10-day MA) and any violation above will take the pair till 566 (100- day MA)/575/608 (61.8% retracement of 715.65 and 434.78). Short-term support is seen at 539 (55- day EMA) and any break below targets 533/21- day MA)/513 (38.2% retracement of 434.58 and 562.30).