BTC/USD continues trading higher on Tuesday and has hit a fresh all-time high at 9866 so far in the day. It is currently trading at 9810 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 8814

Kijun Sen: 7706.77

On the upside, the pair is likely to run into resistance at 9922 (Upper Bollinger) and a break above would target 10000/10200 (200% retracement of 7888 and 5555.55).

On the flip side, short-term support is seen at 9658 (3h 10-SMA) and any violation would drag the pair to 9427 (1h 50-SMA)/9179 (4h 20-SMA). Further weakness would target 9137 (5-DMA)/9000/8767 (trend line joining 4979.90 and 7888).

Momentum studies: Bias remains bullish on the daily chart with no signs of reversal – RSI strong at 77, MACD line above the signal line, and major moving averages biased sharply higher. However, cautions is advised as stochs are in the overbought zone.

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