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BTC/USD breaks major support $200, decline till $165 is possible

Tuesday, August 25, 2015 6:48 AM UTC

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BTC/USD has broken major support $211 and declined till $192 from that level. Short term trend is bearish as long as resistance $220 holds.

  • The minor resistance is around $220 and break above will take the pair to next target $235/$248.
  • The pair's minor support is around $192 and any break below will drag the pair further down  till $180/$162.

Indicator (Daily chart)

CCI (50) -Sell

Ichimoku- Sell

We prefer to sell on rallies around $210 with stop around $220 for the target of $192/$165

 

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