It is facing short term resistance around $285 and any break above could pave the way for next target $304(Jan 26th high).
Any short term trend reversal can happen only below $264.Any break below will take the pair further down till $250/$239.
Indicators (4 Hour chart)
(50) - Buy
(14) - Buy
Recommendation: Buy BTC/USD around $275, SL $264, Target $304.