BTC/USD is trading higher on Thursday after it broke above 23.6% retracement of 891.33 and 2760 rally. It has hit 2432 levels so far in the day and is hovering around this level at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 2305.05

Kijun Sen: 2142.55

On the upside, the pair will run into resistance at 2457 (341.4% retracement of 1350 and 891.33) and a break above would target 2510 (161.8% extension of 891.33 and 1892)/2565 (78.6% retracement of 2760 and 1850)/2600.

Momentum studies appear bullish with RSI and stochs showing higher bias on daily and intraday charts. On the 4-hour chart, the pair has broken above 4h 50-SMA and holding well above that level.

On the flip side, support is seen at 2318.99 (23.6% retracement of 891.33 and 2760) and a break below would drag it to 2269 (10-DMA)/2230 (10-EMA).