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Short

BTC/USD faces strong resistance at $450, good to sell on rallies

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
242 0 7
Major resistance - $450

BTC/USD has formed almost a double top around $445 and declined from that level. It is trading around $418.

Short term trend is slightly weak as long as resistance $450 holds.

On the lower side major support is around $409 and any break below $409 confirms minor trend reversal, decline till $370/$350 is possible.

BTC/USD major resistance is around $450 and break above targets $465/$505. The minor resistance is at $425/$440

It is good to sell on rallies around $425-$430 with SL around $450 for the TP of $400/$$370
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