BTC/USD is trading in a narrow range on Thursday and trying to hold above 100-DMA. It is currently trading at 1044 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1002.86

Kijun Sen: 1120.66

Intraday bias appears neutral with spinning tops from last two days and a flat-lined RSI. The pair has found strong support near 1017 (100-DMA) and a break below could see further downside.

Overall bias appears bullish as long as 100-DMA support holds. Stochastics point higher and MACD seems to be on the verge of a bullish crossover.

The trend line joining 1350 and 1068.26 is acting as a major resistance for the pair and a consistent break above would see it testing 1068.26 (March 28 high)/1080.27 (20-DMA)/1110.26 (50-DMA)

On the downside, the pair has taken strong support near 1017 (100-DMA) and a break below would target 1000 (38.2% retracement of 891.33 and 1068.26)/979.80/944.36 (March 18 low).