BTC/USD is trading in a narrow range on Friday, after it closed well above 5-DMA at 2806 levels on June 08. It is currently trading at 2812 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 2614.90

Kijun Sen: 2287.11

On the upside, the pair faces resistance at 2878 levels (113% retracement of 2760 and 1850) and a break above would target 2933 (June 06 high)/3007 (127.2% retracement 2760 and 1850)/3073 (113% extension of 1850 and 2933).

Overall bias remains bullish with RSI is holding at 70, MACD line above the signal line, and the pair currently holding well above 5-DMA. However, caution is advised as bearish divergence could be seen in RSI and stochs on the daily chart.

On the downside, support is seen at 2770 (2h 50-SMA) and any violation would drag it to 2707 (5-DMA)/ 2677 (23.6% retracement of 1850 and 2933)/ 2612 (June 07 low)/2519.