BTC/EUR hits once again all-time high at 1648 after breaking the high of 1559 made on May 8th 2017 (COINBASE). The pair has shown a minor profit booking after hitting 1648 level. It is currently trading around 1608 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1455

Kijun-Sen level: 1358

Major reversal level -1358 (21- EMA)

Long-term trend remains to be bullish. BTC/EUR breaks major resistance at 1625 (161.8% retracement of 1514 and 1343) and a jump till 1707/1943 likely.

Major resistance is around 1707 (161.8% retracement of 1648 and 1556) and any break above will take the pair to next level till 1943 (261.8% projection of 826 to 1160 from 1069). Short term support is seen at 1455 (daily Tenkan-Sen) and any break below will drag the pair down till 1335 (38.2% retracement of 826 and 1648)/119 (55- EMA).