BTC/USD is facing resistance from 9-EMA and is trying to hold its strength above the 600.00 mark. It is currently trading at 606 levels (Bitstamp).

Short-term trend: Bearish

Ichimoku analysis of daily chart:

Tenkan Sen: 609.93

Kijun Sen: 590.64

Trend reversal: 592.76 (90 EMA)

"The pair has taken support near 55-day EMA and a break below 600 levels would see further bearishness in the pair”, FxWirePro said in a statement.

The pair must close above 9 EMA for further upside. Major resistance is seen at 626.81 (100-day) and a break above would see the pair testing 653.69 (78.6% retracement of 704.99 and 465.28)/ 705 (July 3 high).

On the other hand, 599.25 (55 EMA) is acting as a strong support and break below would target 547.14 (50% retracement of 465.28 and 628.99)/ 534 (200-day MA).