BTC/USD Short term outlook
BTC/USD is trading around $295 (trend line resistance joining $265 and $285) and nay break above will target $307 in short term. Overall trend is bullish as long as support $275 (55 day EMA) holds.
It is facing short term resistance around $308 and any break above could pave the way for next target $342 (61.8% retracement of $162.68 and $454).
Any short term trend reversal can happen only below 275.Any break below will take the pair further down till $259/250.Minor support is around $285(Kijun –Sen).
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy BTC/USD around $285, SL $274, Targets $307/$340.
It is facing short term resistance around $308 and any break above could pave the way for next target $342 (61.8% retracement of $162.68 and $454).
Any short term trend reversal can happen only below 275.Any break below will take the pair further down till $259/250.Minor support is around $285(Kijun –Sen).
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy BTC/USD around $285, SL $274, Targets $307/$340.
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