BTC/EUR is trading in narrow range between 2231 and 1940 for the past 11 trading sessions (CEXIO). The pair has formed a minor bottom around 1770 May 27th 2017 and slight break below confirms minor weakness. It is presently trading at 2105 at press time.

Ichimoku analysis of 4-Hour chart shows:

Tenkan-Sen level: 2070

Kijun-Sen level: 2150

Major reversal level -1660 (200- 4H MA)

Long-term trend remains to be bullish. BTC/EUR upside capped by 50% fibo and any minor bullishness can be seen above that level.

Major resistance is around 2220 (50% retracement of 2671 and 1770) and any break above will take the pair to next level till 2325 (61.8% retracement of 2675 and 2070)/2515 (100% projection of 1502 and 2108 to 1908)/2670. Short term support is seen at 1979 (89 -4H EMA) and any break below will drag the pair down till 1940 (May 28th 2017 low)/1660 (200 4H MA).

It is good to sell on rallies around 2100 with SL around 2225 for the TP of 1630/1510.