BTC/USD is continuing its upward movement on Friday and has hit $778.70 levels this morning (Bitstamp). It is currently trading at $772.90 levels at the time of writing.

Ichimoku analysis (4 Hour chart):

Tenkan-Sen level: $726

Kijun-Sen level: $704

Trend reversal level - (90 day 4H EMA)-$622

The pair has broken major resistance $755 on Thursday and now faces major resistance around $776 (61.8% retracement of $1163 and $152). Any consistent break above this level will see the pair testing $830 (127.2% retracement of 9686 and $153)/$886.

On the downside, short-term support is likely to be found at $740 (7 4H EMA) and any violation below will drag the pair till $704/$655 (4 h 55 EMA). Long-term trend remains bullish.