FxWirePro: BTC/USD faces strong resistance at $470, good to sell on rallies

• Major resistance -$470 (Apr 26th 2016)
   
• BTC/USD has slightly recovered from the low of $451 yesterday. It is currently trading around $453.79
   
• Minor trend is slightly bearish as long as resistance $470 holds.
   
• The pair’s major support - $435 (55 day EMA) and any slight weakness can be seen only below $435.
   
• 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 $470 and any indicative break above targets $504/$550.

It is good to sell on rallies around $456-$458 with SL around $470 for the TP of $435/$420.