BTC/USD Short term outlook

BTCE:BTCUSD   Bitcoin / U.S. Dollar
176 1 3
BTC/USD is trading around $295 ( trend line resistance joining $265 and $285) and nay break above will target $307 in short term. Overall trend is bullish as long as support $275 (55 day EMA ) holds.

It is facing short term resistance around $308 and any break above could pave the way for next target $342 ( 61.8% retracement of $162.68 and $454).

Any short term trend reversal can happen only below $275.Any break below will take the pair further down till $259/$250.Minor support is around $285(Kijun –Sen).

Indicators (4 Hour chart)

CCI (50) - Buy

CCI (14) - Buy

Ichimoku- Buy

Recommendation: Buy BTC/USD around $285, SL $274, Targets $307/$340.

Your blue CCI shows a tiny bearish divergence to the price.
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