Description
⋅ BTC/USD is currently trading around $276 after making low of $259. Overall trend is bullish as long as support $264 (55 day EMA) holds.
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)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy BTC/USD around $275, SL $264, Target $304.