FxWirePro: BTC/USD faces strong resistance around $273, good to sell on rallies

BTC/USD has made a high of $272.95 and started retreats from that level. It is currently trading at $ pair has almost formed a double top around $273 and any further movement can be seen only above that level.

• The major resistance is around $273 and break above will take the pair to next target $280/$286.
• The pair's minor support is around $258 and any break below will drag the pair further down till $250/$245.
• Bullish invalidation only below $245

Indicator (Daily chart)

CCI (50) -Buy

Ichimoku- Buy

We prefer to sell on rallies around $268-270 with SL around $280 for the TP of $250/$246.