BTC/USD dropped to 891.33 levels on March 25, after it broke below the Ichimoku cloud. The pair has restored its strength to above5-DMA and is currently hovering around Cloud bottom at 992 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1004.61

Kijun Sen: 1120.66

The pair is currently hovering around Cloud bottom and a consistent break above would see it testing 1012.10 (10-DMA)/1024.24 (90-EMA)/1066.54 (38.2% retracement of 1350 and 891.33). Bullishness could be confirmed if the pair edges above Ichimoku cloud.

In the daily chart, support is seen at 976.68 (2H 50-SMA) and a break below would drag it to 913.73 (February 09 low)/891.33 (March 25 low). In the weekly chart, watch out for a close below 946.60 (20-SMA) for further downside.