BTC/USD has slightly retreated after making a high of $684. It is currently trading at $679.00 at press time (Bitstamp).

Long term trend: Bullish

Short term Trend- Bullish

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $655

Kijun-Sen level: $622

Trend reversal level - (90 EMA)-$580

“BTC/USD is facing strong resistance at $685 (Jun 25 high).It should break below this level for further bullishness”, FxWirePro said in a statement.

Major resistance is around $685 (Jun 25 high) and any break above targets $705 (Jul 2 high)/ $731 (161.8% retracement of $778 and $540). Short term support – $655 (daily Tenkan-Sen) and any violation below will drag the pair till $622 (daily Kijun-Sen)/ $612 (55 day EMA)/$540 (Jun 23 rd low).