BTC/EUR is seen trading below 21-day MA and facing strong support at 50-day MA on Monday. The pair has slightly retreated after making a low of 525 on 22nd Sep 2016 (CEXIO). It is currently trading around 537.99 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 535.64

Kijun-Sen level: 532.06

Trend reversal level - (100 days MA)- 559.90

Long-term trend remains to be bullish. In the daily chart, the pair is struggling to close above 61.8% retracement of 561.30 and 525. So a break above targets 560.

Major resistance is around 541.85 (21-day MA) and any violation above will take the pair till 547.58 (61.8% retracement of 561.43 and 525) /560 (100- day MA). Short-term support is seen at 522.75 (Cloud bottom) and any break below targets 513 (38.2% retracement of 434.58 and 562.30)/503 (Sep 2nd low).