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FxWirePro: BTC/USD consolidates in narrow range, good to buy at dips

Pattern Formed- Triple bottom Major support - $435 Major resistance- $451 (21 day MA) BTC/USD has made a high of $449.60 yesterday and slightly retreated from that level. . It is currently trading around $447.93. The pai…

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FxWirePro: BTC/USD consolidates in narrow range, good to buy at dips
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  • Pattern Formed- Triple bottom
     
  • Major support - $435
     
  • Major resistance- $451 (21 day MA)
     
  • BTC/USD has made a high of $449.60 yesterday and slightly retreated from that level. . It is currently trading around $447.93.
     
  •  The pair should break below $435 for further weakness.
     
  • Any break below $435 will drag the pair down till $420 (55 day EMA)/$385 (200 day EMA).The minor support is around $448.
     
  • On the higher side resistance is at $451 (21 day MA) and any indicative break above targets $456/$465/$470.

It is good to buy at dips around $445 with SL around $435 for the TP of $460/$470

 

 

 

 

 

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