FxWirePro: BTC/USD trades flat, good to buy at dips
Wednesday, March 16, 2016 8:06 AM UTC
- Major resistance - $425
- BTC/USD is consolidating between $421.59 and $406 for the past three trading session. It is trading around $414.
- Short term trend is slightly bullish as long as support $370 holds.
- On the lower side major support is around $370 and any break below $370 confirms minor trend reversal, decline till $350/$318 is possible. The minor support is around $400
- BTC/USD minor resistance is around $415 and break above targets $425/$450.
It is good to buy around $415-$418 with SL around $400 for the TP of $450/$465