BTC/EUR is seen trading above on Thursday. The pair has jumped above after making a low of 427 (Aug 2nd low) levels (CEXIO). It is currently trading at 520.29 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 514

Kijun-Sen level: 522.75

Trend reversal level - (90 4H EMA)-540

Long-term trend remains to be bullish. In the daily chart, BTC/EUR is trading slightly well above 200 days MA. So a huge selling can be seen if the pair closes below 200 days MA on a daily basis.

Major resistance is around 522 (daily Kijun-Sen) and any break above will take the pair to next immediate resistance at 540 (90 days EMA)/555 (61.8% retracement of 635 and 427). Short term support is seen at 480 (Jun 23rd low) and any break below targets 445 (200 days MA)/400.