BTC/EUR is seen trading slightly below on Monday, after its increase. The pair breaks the temporary top formed at 588 and jumped till 605 levels (COINBASE).It is currently trading around 598.8 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 586.73

Kijun-Sen level: 572.03

Trend reversal level - (100 days MA) – 550.85

Long-term trend remains to be bullish. In the daily chart, BTC/EUR trades well above trend line resistance, a jump till 623 is possible.

Major resistance is around 607 (61.8% retracement of 698 and 434.78) and any violation above will take the pair 623 (Jul 17th high)/636 Jul 7th 2016 high). Short term support is seen at 586 (daily Tenkan-Sen) and any break below targets 572 (21- day MA)/ 559 (55- day EMA).