BTC/USD has retreated till $660 after making a high of $682.21 on Tuesday. It is currently trading at $664.50 (Bitstamp).

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $665

Kijun-Sen level: $655

Trend reversal level - (90 EMA)-$586

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

Long-term trend remains bullish and 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 Kijun-Sen) and any violation below will drag the pair till $626 (55 day EMA)/$605 (Jul 7 low).