Based on a wavelet expansion of the velocity field, we present a novel optical flow algorithm dedicated to the estimation of continuous motion fields such as fluid flows. This scale-space representation, associated to a simple gradient-based optimization algorithm, naturally sets up a well-defined multi-resolution analysis framework for the optical flow estimation problem, thus avoiding the common drawbacks of standard multi-resolution schemes. Moreover, wavelet properties enable the design of simple yet efficient high-order regularizers or polynomial approximations associated to a low computational complexity. Accuracy of proposed methods is assessed on challenging sequences of turbulent fluids flows.