BTC/USD successfully maintained its strength above the 600 mark last week. (Bitstamp). The pair’s upside is being capped by 9 EMA, however, it is trading slightly above this level at 608 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 611.81

Kijun Sen: 596.90

Trend reversal: 594.42 (90 EMA)

“BTC/USD managed to close slightly above 9-EMA on September 18, which suggests scope for further upside. Bullishness could be confirmed only above 628 levels (100 DMA)”, FxWirePro said in a statement.

Major resistance is seen at 628.44 (100-day) and any violation would see the pair testing 653.69 (78.6% retracement of 704.99 and 465.28)/ 705 (July 3 high).

On the downside, a break below 600 levels will see a small dip till 594.42 (90 EMA)/ 547.14 (50% retracement of 465.28 and 628.99)/ 539.26 (200-day MA).