BTC/EUR is seen trading low in red on Monday. The pair has once again retreated after jumping till 100-day MA (COINBASE). It is currently trading around 543.98 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 539.18

Kijun-Sen level: 533.28

Trend reversal level - (90 days EMA)-53.52

Long-term trend remains to be bullish. In the daily chart BTC/EUR is facing strong resistance at 565 (100-day MA) and further bullishness can be seen only above that level.

Major resistance is around 565 (100-day MA) and any violation above will take the pair till 575/608 (61.8% retracement of 715.65 and 434.78). Short-term support is seen at 528 (21- day MA) and any break below targets 513 (38.2% retracement of 434.58 and 562.30)/502 (Aug 16th 2016 low)/480 (Jun 23rd low).