FxWirePro: BTC/USD forms head and shoulder pattern, good to sell on rallies

BTC/USD is facing strong support around $220 and any further weakness only below $220 level. It is currently trading at $224.95. Short term trend is weak as long as resistance $235 holds.

•  The major resistance is around $235 and break above will take the pair to next target $250/$258.
   
• The pair's minor support is around $220 and any break below will drag the pair further down till $210/$198.

 Indicator (4 Hours chart)

CCI (50) -Sell

Ichimoku- neutral

We prefer to sell on rallies around $227 with stop around $236 for the target of $210/$205