BTC/USD has declined slightly after making a high of $577.86.It is currently trading at $572.99 (Bitstamp).

Long-term trend: bullish

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $579

Kijun-Sen level: $565.14

Trend reversal level - (90 EMA)-$594

“The pair is facing minor resistance at $578 (9 day EMA) and break above that level confirms minor bullishness”, FxWirePro said in a statement.

Major resistance is around $578 (9 day EMA) and any break above targets $603 (Aug 10 2016 high)/$609 (55 day EMA)/$617 (61.8% retracement of $705 and $465). Short term support is seen at $574 (daily Kijun-Sen) and any violation below targets $540 (38.2% retracement of $465 and $583)/ $500 (200 day MA).