BTC/USD trades below major support $248, decline till $200 is possible

BTC/USD has broken major support $248 (200 day MA) and declined till $211. It is currently trading at $232. Short term trend is bearish as long as resistance $247 holds.

•  The major resistance is around $248 (200 day MA) and break above will take the pair to next target $258/$270.
• The pair's minor resistance is around $220 and any break above would extend gains till $211/$200.

Indicator (Daily chart)

CCI (50) -Sell

Ichimoku- Sell

We prefer to sell on rallies around $240 with stop around $248 for the target of $220/$211.