BTC/EUR recovered slightly after hitting a low of 2382 yesterday (CEXIO). The pair temporary top is around 2716 and any bullish continuation can be seen only above that level. It is currently trading around 2436 at the time of writing.

Ichimoku analysis of 4-Hour chart shows:

Tenkan-Sen level: 2434

Kijun-Sen level: 2405

Major reversal level -2314 (200- 4H MA)

Long-term trend remains to be bullish. BTC/EUR trades slightly positive and downside capped by cloud bottom in the 4 hour chart. Any close below confirms further weakness.

Major resistance is around 2550 (76.4% retracement of 2716 and 2015) and any break above will take the pair to next level till 2601 (Jun 13th 2017 high)/2716 (Jun 12th 2017 high)/ 2791 (113% retracement of 2716 and 2160). Short term support is seen at 2365 (4H Cloud bottom) and any break below will drag the pair down till 2298 (200-4H MA)/2015.

It is good to buy on dips around 2430-2435 with SL around 2365 for the TP of 2540/2715.