BTC/EUR is seen trading low on Thursday. The pair is trading slightly above psychological resistance of 700 levels (COINBASE). It has jumped till 718 and currently trading around 712.33 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 708

Kijun-Sen level: 681.98

Trend reversal level - (100 day MA) – 607

Long-term trend remains to be bullish. In the daily chart, BTC/EUR upside is capped by 61.8% fibo, any close above will take the pair till 729/740.

Major resistance is around 718 (61.8% retracement of 729.73 and 699) and any violation above will take the pair till 729 (Dec 2nd high) / 740 (161.8% retracement of 714.95 and 673)/789 (127.2% retracement of 715 and 673). Short-term support is seen at 704 (21- day MA) and any break below targets 681 (daily Kijun-Sen)/ 673 (Nov 20th, 2016 low)/634 (Nov 13th low).