BTC/USD Short term outlook

BTCE:BTCUSD   Bitcoin / U.S. Dollar
102 0 1
BTC/USD is struggling to break above 200 day 4HMA ($246) and any trend reversal can happen only above that level.

On upside major resistance is around $246 (200 day HMA ) and any break above could pave way for next target $253/$267.The pair’s minor support is around $234 and break below will target $225/$220.

Indicators (1 Hour chart)

CCI (50) - Sell

CCI (14) - Sell

CCI (14) - Neutral

Recommendation: Sell BTC/USD around $245 SL $253, Targets $234/$225
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