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BTC/USD Short Term outlook

  • BTC/USD has made a high $257 and retreats from that level. Overall trend is bullish as long as support $ 234 holds.

  • Bullish invalidation can happen only below $234 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's major resistance is around $258 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 around $243 with stop around $234 for the target of $269.

 

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