BTC/USD has declined after jumping till $603 yesterday. It is currently trading at $593 (Bitstamp).

Long-term trend: bullish

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $539

Kijun-Sen level: $574.73

Trend reversal level - (90 EMA)-$596.72

“The pair is facing strong resistance at $597 (90 day EMA) and close above that level confirms minor bullishness”, FxWirePro said in a statement.

Major resistance is around $597 (90 day EMA) and any break above targets $622 (21 day EMA)/$658 (61.8% retracement of $778 and $465). Short-term support is seen at $574 (daily Kijun-Sen) and any violation below targets $540 (38.2%retracement of $465 and $583)/ $500 (200 day MA).