BTC/EUR is seen trading slightly above on Wednesday. The pair is trading in a narrow range between 588 and 579 for the past three trading session (COINBASE). It is currently trading around 583.54 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 567.47

Kijun-Sen level: 560.42

Trend reversal level - (100 days MA) – 551.69

Long-term trend remains to be bullish. BTC/EUR has formed a temporary top around 588 and any break above confirms minor bullishness.

Major resistance is around 588 (Oct 15th high) and any violation above will take the pair till 607 (61.8% retracement of 698 and 434.78)/623 (Jul 17th high). Short-term support is around 574.50 (10-day MA) and any break below targets 567 (daily Tenken-Sen)/560.78 (daily Kijun-Sen).