BTC/USD has broken above major resistance at 845 levels (trend line joining 628.27 and 683.23) and is now inching closer to 900 levels. It has hit a high of 896 levels so far in the day and is currently trading at 881 levels at press time (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 846.57

Kijun Sen: 945.61

Trend reversal: 798.50 (90 EMA)

On the upside, a decisive break above 899.77 (38.2% retracement of 1139.89 and 751.34) would face further resistance at 922 (21-DMA)/945.

Momentum studies appear slightly bullish. RSI(14) is at 51 with upside bias and MACD seems to be on the verge of a bullish crossover. A consistent break above 910 (trend line joining 628.99 and 745.19) would see further upside in the pair.

On the downside, the pair is likely to find support near 798.50 (90 EMA) and a break below would target 767.73 (100-DMA)/732.50 (113% retracement of 751.34 and 896.23).