BTC/EUR is seen trading well above on Tuesday. The pair has recovered sharply from the low of 507.09 made on Sep 2nd 2016 (COINBASE). It is currently trading around 544 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 531.99

Kijun-Sen level: 529.10

Trend reversal level - (90 days EMA)-535.93

Long-term trend remains to be bullish. In the daily chart, BTC/EUR has broken major resistance at 55-day EMA 536 and jumped till 556.90 level.

Major resistance is around 560.84 (100-day MA) and any violation above will take the pair till 575/608 (61.8% retracement of 715.65 and 434.78). Short-term support is seen at 504 (Aug 16th low) and any break below targets 480 (Jun 23rd low)/458 (200 day MA).