BTC/USD is extending its consolidation on Tuesday and trading at 18800 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 17171.59

Kijun Sen: 13771

The pair has been looking for a close above 19000 levels in the past couple of sessions. A decisive break above would target 19117 (161.8% retracement of 16666.66 and 12701.05)/19666 (December 17 high). Further strength would see the pair testing 19817 (200% extension of 2972.01 and 11395)/20000/20391 (127.2% extension of 2972.01 and 16666.66)/20632.

On the reverse side, support is seen at 18000 (7-DMA) and a break below would drag the pair to 17513 (4h 50-SMA)/17455 (1h 200-SMA).. Further weakness would see it testing 17380 (10-DMA)/16586 (3h 100-SMA)/15970 (4h 90-EMA)/15370 (4h 100-SMA)/15030 (20-DMA).

Momentum studies: Overall bias remains bullish as the pair is holding well above 7-DMA and major moving averages are biased higher. Also, MACD line above the signal line. However, bearish RSI divergence and stochs in overbought zone call for high caution.

Bias appears slightly bearish on the intraday chart. Watch out for a break below 7-DMA for signs of minor bearishness in the pair.

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