BTC/USD hit a high of 1044 levels on February 04 but failed to hold its strength. The pair is currently hovering around 5-DMA and is trading at 1013 levels at press time (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 977.11

Kijun Sen: 897.78

Trend reversal: 849.85 (90 EMA)

On the upside, a consistent break above 1044 (February 04 high) would see the pair testing 1056 (78.6% retracement of 1139.89 and 751.34)/ 1100.

Momentum studies remain bullish: RSI(14) is at 65, bias higher; and MACD line is above signal line, Stochs in overbought zone.

On the downside, the pair is likely to find support at 975 (23.6% retracement of 751.34 and 1044.23) and a break below would drag it to 955 (trend line joining 628.99 and 745.19)/931.52 (21-DMA).