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.