BTC/USD broke above the previous high of 920 levels on the back of newly found momentum and is currently trading at 957 levels (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 861.71

Kijun Sen: 839.71

Trend reversal: 734.54 (90 EMA)

On the upside, the pair faces immediate resistance at 957.70 levels (161.8% retracement of 920 and 859)  and a consistent break above would target 981/1000.

On the reverse side, the pair is likely to find support at 898.12 (5-EMA) and any violation would drag it to 859.57 (10-day MA)/814.87 (21-day MA).

With the recent surge in bitcoin price, its market capitalization has surpassed the $15 billion mark.