BTC/USD is gradually moving up after falling to 670.32 levels on November 03. It is currently trading at 707.29 levels (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 707.75

Kijun Sen: 684.66

Trend reversal: 632.21 (90 EMA)

On the upside, it faces major resistance at 745 levels (November 03 high) and a break above would see the pair testing 778.85 (June 18 high)/ 800.00.

On the downside, the pair is trying to hold its strength above the 700 mark. A break below would drag it to 675 (21-day MA) and then to 648 levels (55 EMA).