BTC/USD is showing a slight dip after it hit 740.86 levels on Wednesday. It is currently trading at 713 levels (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 707.75

Kijun Sen: 684.66

Trend reversal: 637.27 (90 EMA)

On the upside, further bullishness in the pair could be seen only if it breaches 745 levels (November 03 high). A break above this level would target 778.85 (June 18 high)/ 800.00.

On the reverse side, 15-day MA (703 levels) is acting as a strong support for the pair. A break below this levels would see the pair falling to 686 (21-day MA) and then to 655 (55 EMA).