BTC/EUR is seen trading well above on Friday. The pair has closed well above psychological resistance of 700 yesterday (COINBASE). It has jumped till 724 and currently trading around 722.18 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 708.33

Kijun-Sen level: 681.98

Trend reversal level - (100 day MA) – 609

Long-term trend remains to be bullish. In the daily chart, BTC/EUR faces strong resistance at 729, and any close above will take the pair till 747.

Major resistance is around 729 (Dec 2nd high) and any violation above will take the pair till 748 (161.8% retracement of 729.73 and 699)/789 (127.2% retracement of 715 and 673). Short-term support is seen at 706 (21- day MA) and any break below targets 681 (daily Kijun-Sen)/ 673 (Nov 20th, 2016 low)/634 (Nov 13th low).