BTC/USD forms triple bottom at $220,jump till $250 is possible

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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BTC/USD is facing strong support around $220 and any further weakness only below $220 level. It is currently trading at $224.95. Short term trend is weak as long as resistance $235 holds.

The major resistance is around $235 and break above will take the pair to next target $250/$258.

The pair’s minor support is around $220 and any break below will drag the pair further down till $210/$198.

Indicator (4 Hours chart)

CCI (50) –Buy

Ichimoku- Buy

We prefer to buy around $228 with SL around $219 for the TP of $250
You never gave an explanation for the 250 target?
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