BTC/USD is struggling for a consistent break above 640 levels and is showing a small dip after hitting 642 levels on October 15th. It is currently trading at 636.99 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 626

Kijun Sen: 617

Trend reversal: 604.14 (90 EMA)

“The pair is trading in the red on Monday and has hit a low of 632.10 levels so far in the day. Further bullishness would be seen only if it breaks above 642 levels”, FxWirePro said in a statement.

On the upside, major resistance is seen at 642 levels and a break above would see the pair testing 648.12 levels (161.8% retracement of 642 and 632.10)/684.19 (July 17 high).

On the downside, the pair is likely to find support near 627.89 (10-day MA) and a close below would bring slight bearishness in the pair, dragging it to 610.80 (100-day MA)/ 604.14 (90 EMA).