BTC/USD is seen trading below in red on Monday. The pair has recovered after making a low of $645 levels (BITSTAMP) on Tuesday. It is currently trading at $655.18 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: $664.50

Kijun-Sen level: $655.24

Trend reversal level - (90 EMA)-$592.94

The long-term trend remains to be bullish. BTC/USD is facing strong support at $630 (55 days EMA).It should break below this level for further weakness.

Major resistance is around $665 (daily Tenken-Sen) and any break above targets $685 (Jun25th high)/ $705 (Jul 2nd high). Short term support is seen at $645 (Jul 22nd low) and any violation below will drag the pair till $630 (55 days EMA)/$605 (Jul 7th low).