BTC/USD has broken above previous high of 745 levels and is currently trading at 747 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 713.05

Kijun Sen: 686.88

Trend reversal: 648.19 (90 EMA)

On the upside, the pair is now targeting 778.85 (June 18 high) and a break above would see the pair testing 800 (psychological level)/819.61 (113% retracement of 778.85 and 465.28).

On the reverse side, support is likely to be found near 707.98 (21-day MA) and a break below would see a dip till 683(November 13 low)/ 670 (November 03 low).