BTC/GBP soared higher on Tuesday and has hit a high of 844 levels so far in the day. It is currently trading at 841 levels at press time (Coinbase).

Ichimoku analysis of daily chart:

Tenkan Sen: 781.22

Kijun Sen: 720

Trend reversal: 691.73 (90-EMA)

On the upside, the pair has broken above the trend line joining 950 and 835 and is holding above that level. Momentum studies suggest further bullishness in the pair as RSI (14) is at 68 and the MACD line is above the signal line.

Immediate resistance is seen at 847.68 (upper Bollinger) and a decisive break above would target 876 (78.6% retracement of 950 and 605)/900.

On the flipside, the pair has taken support near 806 (7-DMA) and any violation would drag it to 777 (trend line joining 467.77 and 611.12)/757.21 (21-DMA).