BTC/EUR has recovered sharply after forming a minor bottom around 1940 and jumped till 2621 levels (CEXIO). Intraday weakness can be seen only below 2420 level. It is currently trading around 2539 at the time of writing.

Ichimoku analysis 4-Hour chart shows:

Tenkan-Sen level: 2492

Kijun-Sen level: 2423

Major reversal level -1908 (200- 4H MA)

Long-term trend remains to be bullish. BTC/EUR downside capped by 23.6% fibo and any minor weakness can be seen only if it breaks below that level.

Major resistance is around 2675 (May 25th 2017 high) and any break above will take the pair to next level till 2778 (113% retracement of 2675 and 1940)/2800. Short-term support is seen at 2420 (23.6% retracement of 1940 and 2621) and any break below will drag the pair down till 2214 (89- 4H EMA)/2000.

It is good to buy on dips around 2280 with SL around 2000 for the TP of 2670/2778.