BTC/EUR trades in red on Thursday and further plunge is expected. The pair has broken major psychological support at 500 and declined till 483 levels (CEXIO).  It is currently trading at 518.52 at the time of writing.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: 604

Kijun-Sen level: 559

Trend reversal level - (90 days EMA)-465

Long-term trend remains to be bullish. BTC/EUR has taken support near trend reversal level (90 days EMA) and slightly recovered from that. Any break below 465 will drag the pair down till 400 (200 day MA).

Major resistance is around 532 (23.6% retracement of 692.65 and 483) and any break above will take the pair to next immediate resistance at 559 (daily Kijun-Sen)/ 573 (21 day MA)/ 607 (7 days EMA). Short term support is seen at 465 (90 days EMA) and any violation below will drag the pair till 405 (200 day MA).