BTC/USD has resumed its upward trend, following a slight correction seen on July 14. In fact, the broken the major resistance at 725 levels (June 13 high) today morning and hit 732 levels. It is currently trading at 727.25 levels (Bitstamp), at the time of writing.

Ichimoku analysis (4 Hour chart):

Tenkan-Sen level: $675

Kijun-Sen level: $652

Trend reversal level - (90 day 4H EMA)-$605

Any break above $725 confirms major bullish trend, a jump till $755(1.13% retracement of $686 and $152.93)/ $776 (61.8% retracement of $1163 and $152)/$830 seems likely. On the other hand, the pair is likely to find short-term support at $689 (7 4H EMA) and any violation below will drag the pair till $675/$652 (4 h Kijun-Sen). Long-term trend remains bullish.

Tuur Demeester, Editor in Chief at Adamant Research, tweeted:

“$Bitcoin: after testing it three days ago — this time the $700 is shattered for real”.