BTC/USD is consolidating in a narrow range inside Ichimoku cloud with its upside capped by 100-DMA. It is currently trading at 8735 levels at the time of writing (Bitstamp).

On the top side, the pair faces resistance at 8840 (100-DMA) and a break above would test 8948 (10-DMA)/9057 (Cloud top). Further strength would target 9160 (20-DMA)/9660 (trend line joining 11688 and 9948.98)/9957 (Upper Bollinger).

On the downside, support is likely to be found at 8612 (1h 50-SMA) and a break below would drag it to 8361 (Lower Bollinger)/8286 (50-DMA). Further weakness would see it testing 8000/7772 (61.8% retracement of 6427.16 and 9948.98)/7572 (Cloud bottom).

Momentum studies: On the daily chart, RSI is below 50 and MACD line is below the signal, while stochs have rolled over from oversold zone.

On the 4h chart, the pair is testing 200-SMA (8833 levels) and a break above would see further upside.

Watch out for a break above cloud for minor upside in the pair. Bullishness could be confirmed on a decisive break above 200-DMA.

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