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