BTC/USD continues directionless trading

BTC/USD continues trading in a narrow 226.33-229.64 range today, at the time of writing. The trading for pair has been flat from the past few sessions and the chart provides no definite direction.

The pair's minor support is seen at $220 levels and a convincing break below this level will see the pair falling to $210/$198. It appears to be in consolidation phase ever since it recovered from the low of $198 (Aug 8). Short term trend is bullish as long as support $198 holds.

The minor resistance is located around $240 levels and a break above will see the pair soaring to $250/$268.

It is advisable to stay off the market for now and wait for definite signal.