BTC/USD is trading weak on Wednesday and has slipped below 21-day MA. It is currently trading at 576 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 569.12

Kijun Sen: 561.32

Trend reversal: 591.70 (90 EMA)

Long-term trend is bullish for the pair and it faces major resistance at 591.70 (90 EMA) and a break above would target 605 (100-day MA)/634 (161.8% retracement of 603 and 522.30).

On the reverse side, support is likely to be found at 550 (psychological level) and break below would drag the pair to 514 (200-day MA)/465.28 (August 2 low).