- BTC/USD has broken major support $258 (200 day 4HMA) and is trading well below that level. This confirms that BTC/USD has formed temporary top around $299 and decline till $210 cannot be ruled out.
- The pair's minor resistance is around $265 and any break above could pave way for next target $272/$280.
- It is facing short term support around $230 and any break below will drag the pair further down till $220/$210.
Indicators (4 Hour chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell
Recommendation: Sell BTC/USD around $252, SL $266, Targets $230/$212.
