BTC/USD has jumped till $583.97 yesterday and slightly declined from that level. It is currently trading at $569.19 (Bitstamp).

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $562.30

Kijun-Sen level: $574.73

Trend reversal level - (90 EMA)-$598

“BTC/USD is facing strong resistance at $598 (90 day EMA) and close above that level confirms minor bullishness”, FxWirePro said in a statement.

Long-term trend is bullish for the pair and major resistance is around $598 (90 day EMA) and any break above targets $626 (55 day EMA)/$642 (21 day MA). On the other hand, short-term support is seen at $540 (38.2% retracement of $465 and $583) and any break below targets $522/$496 (200 day MA).