BTC/EUR kicked off the New Year by jumping till 988.58 yesterday and is expected to break psychological level in the short term (COINBASE). The pair has slightly declined till 951.30 after making fresh lifetime high. It is currently trading around 977 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 898

Kijun-Sen level: 849.24

Minor weakness level – 930 (7- day EMA)

Minor reversal level -800 (Dec 25th low)

Long-term trend remains to be bullish.In the daily chart, BTC/EUR is trading well above previous year high and slight jump till 1012 is likely.

Major resistance is around 988 (Jan 2nd high) and any break above will take the pair to next level till 1000/1012 (161.8% retracement of 988.58 and 951.30). Short term support is seen at 930 (7-day EMA) and any break below will drag the pair till 898 (daily Tenken-Sen)/840 (21- day MA)