BTC/USD Short term outlook

BTCE:BTCUSD   Bitcoin / U.S. Dollar
137 0 1
Intraday trend-Bullish

BTC/USD has taken support at $243.80 ( Trend line joining $24.08 and $236) and recovered from that level. Short term trend is bullish as long as support $243 holds.

On upside major resistance is around $251 (20 day MA) and any break above could pave way for next target $258/$269.

Indicators ( Daily chart )

CCI (50) - Sell

CCI (14) - Buy

Ichimoku - Neutral

Recommendation: Buy BTC/USD around $249 SL $243, Targets $259/$268.

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