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FxWirePro: BTC/USD faces strong resistance around $250, good to sell on rallies

BTC/USD has retreated after making a high of $246 and is currently trading at $236. Short term trend is weak as long as resistance $250 holds. The major resistance is around $250 and break above will take the pair to nex…

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FxWirePro: BTC/USD faces strong resistance around $250, good to sell on rallies
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  • BTC/USD has retreated after making a high of $246 and is currently trading at $236. Short term trend is weak as long as resistance $250 holds.

  •  The major resistance is around $250 and break above will take the pair to next target $258/$271.

  • The pair's minor support is around $230 and any break below will drag the pair further down till $210/$198.

 Indicator (Daily chart)

CCI (50) -Sell

Ichimoku- Neutral

We prefer to sell on rallies  around $240 with stop around $251 for the target of $215.

 

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