BTC/USD fell to 743 levels on Monday after it hit 778.07 levels on December 02. It currently trades at 748 levels (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 749.53

Kijun Sen: 730.65

Trend reversal: 681.05 (90 EMA)

On the upside, the pair faces immediate resistance at 760.54 (50% retracement of 778 and 743) and a break above would target 778.07 (December 02 high). A break above this level would confirm further bullishness in the pair and see it testing 799.74 (161.8% retracement of 778.07 and 743).

On the down side, the pair has taken support near 741.22 (21-day MA) and a break below would see a dip till 714 (November 20 low)/ 700.