BTC/USD Short term outlook

BTCE:BTCUSD   Bitcoin / U.S. Dollar
64 0 1
BTC/USD has recovered after making a low of $243. Overall trend is still weak if BTC/USD not able to close above $265 (200 day 4 Hour EMA ).

The pair’s minor resistance is around $265 and any break above could pave way for next target $272/$280.

It is facing short term support around $238 and any break below will drag the pair further down till $220/$210.

Indicators (4 Hour chart)

CCI (50) – Sell

CCI (14) - Sell

Ichimoku- Neutral

Recommendation: Sell BTC/USD around $257, SL $266, Targets $238/$220.

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