BTC/EUR recovered sharply after forming a minor bottom around 2008 yesterday (CEXIO). Intraday weakness can be seen only below 2000 level. It is currently trading around 2205 at the time of writing.

Ichimoku analysis 4-Hour chart shows:

Tenkan-Sen level: 2101

Kijun-Sen level: 2078

Major reversal level -1721 (200- 4H MA)

Long-term trend remains to be bullish. BTC/EUR downside capped by 2008 (89- 4H EMA) and any minor weakness can be seen only below this level.

Major resistance is around 2231 (May 28th high) and any break above will take the pair to next level till 2325 (61.8% retracement of 2675 and 2070)/2515 (100% projection of 1502 and 2108 to 1908)/2670. Short term support is seen at 2008 (89 -4H EMA) and any break below will drag the pair down till 1940 (May 28th 2017 low)/1660 (200 4H MA).

It is good to buy on dips around 2150 with SL around 2000 for the TP of 2500/2670.