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Short

BTC/USD trades below $400,decline till $350/$310 is possible

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
419 0 7
BTC/USD has broken major trend line support $400 ( trend line joining $294 and $310) and declined till $350. It is currently trading around $376.

Short term trend is bearish as long as resistance $408 holds.

The pair's major resistance is around $408 and any break above will take the pair to next level till $425/$450/$465. Overall trend reversal can be seen only above $465.

On the lower side below $350 will drag the pair to next level $310/$295.

It is good to sell on rallies around $380-85 with SL around $410 for the TP of $350/$310.
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