BTC/USD has slightly retreated after making a high of $682. It is currently trading at $674 (Bitstamp).

Ichimoku analysis (4 Hour chart):

Tenkan-Sen level: $661

Kijun-Sen level: $672.54

Trend reversal level - (90 4H EMA)-$662

“BTC/USD is facing strong support at $646 (200 4H MA) and minor weakness only below that level”, FxWirePro said in a statement.

Long-term and short-term trend remain bullish. The pair faces aajor resistance around $685 (Jun 25 high) and any break above targets $705 (Jul 2 high)/ $731 (161.8% retracement of $778 and $540)/$765 (Jun 19 high).

On the flipside, short-term support is seen at $662 (90 4H EMA) and any violation below will drag the pair till $646 (200 4H MA)/$621 (Jun 29 low).