BTC/USD has broken above 100-day MA and has hit 616.47 levels so far in the day. It is currently trading at 614.50 levels (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 610.99

Kijun Sen: 604.54

Trend reversal: 599.11 (90 EMA)

On the upside, the pair will face resistance at 628.99 (September 11 high) and a break above would target 651.79 (161.8% retracement of 628.99 and 592.10)/ 704.99 (July 03 high)

On the flip side, the pair seems have taken support near 611.05 (10-day MA) and a consistent break below would weaken it to 599.11 (90 EMA)/552.30 (August 19 low).