FxWirePro
Long

BTC/USD breaks minor resistance around $400, targets $465.

BITSTAMP:BTCUSD   Bitcoin / Dollar
296 0 2
BTC/USD breaks minor resistance $408 and jumped till $423. It is currently trading around $416.

Short term trend is bullish as long as support $370 holds.

On the lower side any break below $370 will drag the pair down till $350/$315 (200 day MA).

The pair’s resistance is around $425 and break above will take the pair to next level $450/$466.

Overall bullish invalidation below $315.

Momentum indicator Stoch RSI is above 20 level and is showing buy signal.

It is good to buy at dips around $400 with SL around $370 for the TP of $450/$465


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