BTC/USD Short term outlook Long

Description

⋅ Mar 17, 2015 6:23 AM

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.

Comments

ChartArt

⋅ Mar 18, 2015 3:25 PM

I hadn't seen your chart yesterday, but I was bearish already. But I didn't expect such a large and fast drop.

IvanLabrie

⋅ Mar 17, 2015 5:05 PM

I don't like how it penetrated the cloud, for a long.

jangseohee

⋅ Mar 17, 2015 2:11 PM

jangseohee

⋅ Mar 17, 2015 2:11 PM

whether or not, the current daily trendline can hold is the key