BTC/USD is trading in a narrow range between 760 and 750 levels as it faces resistance from 50% fib retracement. It is currently trading at 751 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: 682.74 (90 EMA)

The pair’s upside is being capped by 760.54 (50% retracement of 778.07 and 743) and a break above would target 778.07 (December 02 high)/800.

On the downside, the pair faces strong support near 743.51 (21-day MA) and a break below would see a dip till 714 (November 20 low)/ 700.