FxWirePro: BTC/USD struggles to break above $400, good to sell on rallies
BTC/USD has broken major trend line support $400 (trend line joining $294 and $310) and declined till $350. It is currently trading around $375. Short term trend is bearish as long as resistance $408 holds. The pair's ma…
BTC/USD has broken major trend line support $400 (trend line joining $294 and $310) and declined till $350. It is currently trading around $375.
Short term trend is bearish as long as resistance $408 holds.
The pair's major resistance is around $408 and any break above will take the pair to next level till $425/$450/$465. Overall trend reversal can be seen only above $465.
On the lower side below $350 will drag the pair to next level $310/$295.
It is good to sell on rallies around $380-85 with SL around $410 for the TP of $350/$310.
