BTC/USD Short Term Outlook

BTCE:BTCUSD   Bitcoin / U.S. Dollar
79 0 0
Intraday trend-Bearish

BTC/USD has broken short term support $227 and decline till $214.Short term trend is weak as long as resistance $235 holds.

In 4hours chart CCI (50) has formed bullish divergence and a slight pullback till 225 cannot be ruled out.

On downside major support is around $213 and any break below could pave way for next target $200/$193.

The pair’s minor resistance is around $235 and break above would extend gains till $245/$259.

Indicators (4 Hour chart)

Woodies CCI (14)- Sell

CCI (50)- Sell

We prefer to Sell BTC/USD around $225 SL $235, Targets $213/$208.

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