BTC/USD has broken above the previous high of 755 levels and is trading at 771 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 737.99

Kijun Sen: 719.15

Trend reversal: 673.65 (90 EMA)

On the upside, the pair is now targeting 778.85 (June 18 high) and a break above would take it to 819.61 (113% retracement of 778.85 and 465.28)/850.

On the downside, the pair has taken support near 730.74 levels (21-day MA) and any violation would drag it to 697.56 (55-EMA)/683.23 (November 13 low).