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FxWirePro: BTC/USD faces strong support around $400, good to buy at dips

  • BTC/USD has declined till $407 and once gain recovered to $429.80 at the time of writing. It is currently trading around $428.90.
     
  • Short term trend is still bullish as long as support $400 holds.
     
  • The pair's minor resistance is around $435 and any break above will take the pair to next level till $480/$502 is possible. Overall trend reversal can be seen only below $400.
     
  • On the lower side below $400 will drag the pair to next level $380/$ trend reversal only below $348.

It is good to buy at dips around $410 with SL around $395 for the TP of $465/$480

 

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