BTC/USD broke above the 1100 mark on Monday and is currently trading just shy of 50-DMA at 1111 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1032.24

Kijun Sen: 1120.66

On the upside, the pair faces strong resistance at 1117.04 (50-DMA) and a close above would see a further bullish trend, targeting 1139.89 (January 04 high)/1174.79 (61.8% retracement of 1350 and 891.33)/1200.

Overall bias appears bullish: RSI is strong at 53, bias higher; and MACD line is above the signal line.

The pair has taken support near 1075.80 (5-DMA) and any violation would drag it to 1052.42 (20-DMA)/ 1030.60 (90-EMA).