BTC/USD has broken above our previous target of 1,050 and is currently trading at 1,065 levels at the time of writing.
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 963.50
Kijun Sen: 901.50
Trend reversal: 771.23 (90 EMA)
On the upside, the pair will run into resistance at 1074.30(161.8% extension of 670.32 and 920) and a break above would target 1080 levels (300% retracement of 980.74 and 931)/1100.
Momentum studies remain bullish for the pair – the MACD line still above the signal line and RSI(14) is at 87.92 – suggesting further uptrend is likely to follow.
On the reverse side, the pair is likely to take support at 985.97 (7-EMA) and a break below would see it testing 963.55 (10-DMA)/931 (December 30 low).
