BTC/USD in the red in a narrow range on Wednesday after it hit a fresh all-time high at 2933 levels on June 06. It is currently trading at 2827 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 2543.64

Kijun Sen: 2267.23

On the upside, a consistent break above 2878 levels (113% retracement of 2760 and 1850) would see the pair testing 2933 (June 06 high)/3007 (127.2% retracement 2760 and 1850)/3073 (113% extension of 1850 and 2933).

On the daily chart, RSI is strong at 74, MACD line is above the signal line, suggesting overall bullish bias. Caution is advised as RSI and stochs are in overbought zone. Moreover, bearish divergence could be seen in RSI and stochs on the daily chart.

Some weakness could be seen in the hourly charts as RSI, stochs, and MACD suggest lower bias. The pair could see a dip till 2765 (1h 50-SMA). A break below would target 2695 (5-DMA)/2519 (38.2% retracement of 1850 and 2933)/2337 (20-DMA). Narrowing of the Bollinger bands in the 1-hour chart suggests some consolidation around current levels.