BTC/USD dropped to 1141 levels on Thursday, before closing at 1172.91. It is currently trading at 1170 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1181.68

Kijun Sen: 1060.16

On the upside, the pair faces immediate resistance at 1188 (10-DMA) and a break above will target 1200 (psychological)/1229 (April 11 high)/ 1260 (March 15 high).

Stochs have rolled over from the overbought zone and MACD seems to be on the verge of bearish crossover. RSI is holding above 50, but bias appears to be lower.

The pair has taken support near 1143.51 (50-DMA) and a close below would see further bearishness in the pair, dragging it till 1126.23 (20-DMA)/1100.