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).