BTC/USD hit a fresh all-time high for second consecutive day on Monday at 1368 levels. It is currently trading at 1363 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1295.71

Kijun Sen: 1251.18

Momentum studies appear highly bullish with MACD line above the signal line, RSI strong at 78, and major moving averages pointing north. However, caution is advised as stochs are in the overbought zone.

On the upside, the pair could now see upside till 1375 (upper Bollinger) and further strength would see it testing 1400 (psychological)/1429 (113% extension of 891.33 and 1368).

On the downside, support is seen at 1341.48 (5-DMA) and any violation would see a dip till 1299.32 (10-DMA)/1247.26 (20-DMA).