BTC/EUR is seen trading slightly above on Tuesday. The pair has slightly declined after making a high of 588 levels (COINBASE). It is currently trading around 582.29 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 567.47

Kijun-Sen level: 557.60

Trend reversal level - (100 days MA) – 551.69

Long-term trend remains to be bullish. In the daily chart, the pair’s downside is capped by 7- day EMA .So slight weakness only below that level.

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 seen at 578 (7- day EMA) and any break below targets 567 (daily Tenken-Sen)/560.54 (21- day MA).