BTC/GBP hit a fresh high of 847.56 levels on Monday before closing at 829.39 levels. It is currently trading at 832.13 levels (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 766.89

Kijun Sen: 726.35

Trend reversal: 618.79 (90 EMA)

On the upside, the pair faces strong resistance at 850 levels and a break above would see it testing 874.69 (272.2% retracement of 805.75 and 751.55)/891 (127.2% extension of 686.22 and 847.56).

Momentum studies remain bullish – MACD line is above the signal line and RSI(14) is at 83.44 – suggesting further upside possibility.

On the flip side, the pair is likely to find support near 794.08 (7-EMA) and a break below would drag it to 751.55 (December 30 low)/713.37 (21-day MA).