FxWirePro
Long

BTC/USD faces strong resistance around $454, good to buy at dips

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
796 0 9
BTC/USD has broken major psychological resistance $400) and jumped till $443 at the time of writing. It is currently trading at $435.It has declined till $402 in the morning and recovered from that level.

Short term trend is bullish as long as support $374 holds.

The pair is facing major resistance around $453 (Nov 2014 high) and break above confirms further bullishness, a jump till $469/$500/$523 is possible

On the downside any break below $374 will drag the pair further down till $358/$349

The pair’s minor support is around $399 and break below will drag the pair till $380/$374 .

It is good to buy at dips around $395-400 with SL around $374 for the TP of $453/$470


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