BTC/USD is trading in a close range on Tuesday as it is trying to hold above 20-DMA. It is currently trading at 14961 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 15018.18

Kijun Sen: 15412.96

On the topside, immediate resistance is seen at 15249 (10-DMA) and a break above would see it testing 15688 (1h 50-SMA)/16036 (5-DMA). Further strength would target 16416 (61.8% retracement of 19666 and 11159.93)/16875(trend line joining 19666 and 17234)/17000.

On the reverse side, a decisive break below 14871 (20-DMA) would target 14709 (2h 200-SMA)/14275 (38.2% retracement of 5555.55 and 19666). Further weakness would drag it to 13866 (50-DMA)/13547 (Cloud top).

Momentum studies: Bias appears bearish on the daily chart, RSI is weak at 49 and stochs have rolled over from overbought levels. Bias appears weak on the intraday charts as well.

A consistent break below 50-DMA would confirm further downside in the pair.

Call Update: We recommended going short in our previous call. Both the targets have been hit.

Recommendation: Book partial profits, stay short. Good to go short on close below 20-DMA.

Trail SL to 16000. TP: 13865/13547.

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