BTC/USD is gradually moving north and is currently trading at 790 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 778.64

Kijun Sen: 757.13

Trend reversal: 704.58 (90 EMA)

On the upside, the pair is facing strong resistance at 797 levels (trend line joining 745.19 and 778.07) and a consistent break above would send it soaring to 819 (113% retracement of 778.85 and 465.28)/ 864/900.

On the down side, the pair has taken support near 777.54 (10-EMA) and a break below would drag it to 764.82 (21-day MA)/743 (December 05 low).