BTC/USD Short term outlook

BTCE:BTCUSD   Bitcoin / U.S. Dollar
167 4
BTC/USD has retreated till $272 after making a high of $299. Overall trend is bullish as long as support $275 (100 day 4HMA) holds.

It is facing short term resistance around $308 and any break above could pave the way for next target $342 ( 61.8% retracement of $162.68 and $454).

Any short term trend reversal can happen only below $272.Any break below will take the pair further down till $259/$250.

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy BTC/USD around $280, SL $270, Targets $307/$340.
I hadn't seen your chart yesterday, but I was bearish already. But I didn't expect such a large and fast drop.
I don't like how it penetrated the cloud, for a long.
whether or not, the current daily trendline can hold is the key
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