BTC/EUR is seen trading slightly below on Monday. The pair has broken trend line resistance 585 and slightly jumped from that level (COINBASE). It is currently trading around 585.42 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 567.50

Kijun-Sen level: 557.60

Trend reversal level - (100 days MA) – 551.69

Long-term trend remains to be bullish. In the daily chart, the pair is trading well above short term MA (5- day, 10 day MA) and also above long term MA (100- day MA , 200- day MA). So a slight jump till 623 can be seen.

Major resistance is around 585 (trend line joining 546.20 and 562.30) and any violation above will take the pair till 607 (61.8% retracement of 698 and 434.78)/623 (Jul 17th high). Short-term support is seen at 575 (9- day EMA) and any break below targets 567 (daily Tenken-Sen)/558.65 (21- day MA).