BTC/USD continues to trade flat, unable to break above 9-EMA. The pair is currently trading at 606.81 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 611

Kijun Sen: 596.90

Trend reversal: 593.33 (90 EMA)

Major resistance is seen at 627.33 (100-day) and any violation would target 653.69 (78.6% retracement of 704.99 and 465.28)/ 705 (July 3 high). Only a break above the previous high of 628.99 would see further bullishness in the pair.

On the reverse side, the psychological level of 600 is acting as a major support for the pair. Any weakness below this level would see it falling to 593.33 (90 EMA)/ 547.14 (50% retracement of 465.28 and 628.99)/ 535.75 (200-day MA).