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BTC/USD Short Term outlook

  • BTC/USD has broken major resistance $248 and this confirms short term bullishness, a jump till $269 cannot be ruled out.

  • Bullish invalidation can happen only below $232 level. The minor support is around $240 and break below will drag the pair further down till $232/$225.

  • Any break below will take the pair down till $218/$211.

  • The pair' minor resistance is around $248 and any break above would extend gains till $269 .

 Indicator (Daily chart)

CCI (50) -Buy

CCI (14) - Buy

Ichimoku- Buy

We prefer to go buy at dips around $248 with stop around $239 for the target of $269.

 

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