BTC/USD continues trading flat on Friday and is currently hovering around 778 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 772.52

Kijun Sen: 753.63

Trend reversal: 698.96 (90 EMA)

On the upside, the pair is facing strong resistance at 782.63 levels (113% retracement of 778.07 and 743) and a break above would target 793.27 (December 13 high). Further strength would see the pair testing 799.74 levels (161.8% retracement of778.07 and 743) /819 (113% retracement of 778.85 and 465.28).

On the flip side, the pair has taken support near 770 (10-EMA) and a break below would drag it to 757 (21-day MA)/743 (December 05 low)/714 (November 20 low).