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BTC/USD Short Term outlook

BTC/USD is trading well above both short term resistance $237 (trend line joining $269.90 and $258.80) and also long term resistance $225 (trend line joining $299 and $257.48) and this confirms short term bullishness, a …

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BTC/USD Short Term outlook
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  • BTC/USD is trading well above both short term resistance $237 (trend line joining $269.90 and $258.80) and also long term resistance $225 (trend line joining $299 and $257.48) and this confirms short term bullishness, a jump till $258 cannot be ruled out.

  • The pair's major resistance is around $244

  • On the down side short term weakness only below $224 and any break below will take the pair further down till $211.

 Indicator (Daily chart)

CCI (50) - Buy

Woodies CCI (14) - Buy

Ichimoku- Buy

It is good to buy around $235 with stop around $224 for the target of $258.

 

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