FxWirePro: BTC/USD faces major resistance around $300, good to sell on rallies

BTC/USD has made a high of $296 and started to decline from that level. Short term trend is bearish as long as resistance $300 holds.

• The pair's minor support is around $277 and any break below will drag the pair further down till $269/$258.
   
• On the higher side any break above $300 will take the pair till $310/$317.

 Indicator (Daily chart)

CCI (50) -Buy

Ichimoku- Buy

We prefer to sell on rallies around $290-92 with SL at $300 for the TP of $277/$268.