BTC/USD has broken above the June 18 high of 778.85 levels (December 02) and is trading at 779 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 758.56

Kijun Sen: 743.25

Trend reversal: 691.77 (90 EMA)

A consistent break above 778.85 levels (June 18 high) would see the pair testing 799.74 levels (161.8% retracement of778.07 and 743)/ 819 (113% retracement of 778.85 and 465.28)/865.

On the downside, the pair has taken support near 765 (7-EMA) and a break below would drag it to 743 (December 05 low)/714 (November 20 low).