FxWirePro: BTC/USD faces strong resistance around 200 4HMA, good to sell on rallies
BTC/USD has retreated till $223 after making a high of $246 and is currently trading at $229. Short term trend is weak as long as resistance $250 holds. The major resistance is around $250 and break above will take the p…
BTC/USD has retreated till $223 after making a high of $246 and is currently trading at $229. 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/$270.
The pair's minor support is around $220 and any break below will drag the pair further down till $210/$198.
Indicator (Daily chart)
CCI (50) -Sell
Ichimoku- Sell
We prefer to sell on rallies around $240 with stop around $251 for the target of $215.
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