BTC/USD continues to trade in a narrow range, holding its strength above the 630.00 level. It is currently trading at 635.83 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 626

Kijun Sen: 617.25

Trend reversal: 604.86 (90 EMA)

On the upside, major resistance is seen at 642 levels (October 15 high) and a break above would see the pair testing 648.12 levels (161.8% retracement of 642 and 632.10)/684.19 (July 17 high).

On the downside, the pair is likely to find support near 630.09 (10-day MA) and a close below would target 610.69 (100-day MA)/ 604.86 (90 EMA).