BTC/EUR is seen trading well below on Tuesday. The pair has broken major support at 540 and declined till 531.90 levels (CEXIO). It is currently trading at 547.43 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 575.22

Kijun-Sen level: 581.60

Trend reversal level - (90 4H EMA)-541.64

Long-term trend remains to be bullish. BTC/EUR trades slightly below 90 days EMA .So a decline till 483 likely.

Major resistance is around 555 (23.6% retracement of 635 and 531.90) and any break above will take the pair to next immediate resistance at 575 (7 day EMA)/ 595 (21 day MA). Short term support is seen at 540 (90 day EMA) and any break below targets 515/483 (Jun 23rd low).