BTC/USD ran into resistance at 607.34 (21 DMA) on Monday and has failed to break above this level. It is currently trading slightly lower at 602.20 (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 600.80

Kijun Sen: 597.92

Trend reversal: 595.46 (90 EMA)

“The pair has turned red after facing resistance at 21-DMA and has been trading above 10-DMA so far in the day. A break above 610 levels would see a slight jump in the pair, while bullishness could be confirmed only above 628”, FxWirePro said in a statement.

BTC/USD faces immediate resistance at 607.34 (21-day MA) and a break above would target September 11 high of 628 (September 11 high)/651.79 (161.8% retracement of 628.99 and 592.10).

On the reverse side, support is seen at 595.46 (90 EMA) and a break below would target 546.85 (200-day MA)/527 (61.8% retracement of 465.28 and 628.99).