BTC/GBP traded strongly on Wednesday and briefly broke above the 600 mark. It is currently trading at 596.99 levels at the time of writing (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 573.21

Kijun Sen: 558.48

Trend reversal: 506.42 (90 EMA)

On the upside, a consistent break above 600 levels would see the pair testing 611.12 (November 03 high). Further strength would target 650 levels.

On the downside, support is seen at 560.34 (21-day MA) and a break below would drag it to 535 (November 03 low)/527.44 (55 EMA).