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Long

BTC/USD Short term outlook

BTCE:BTCUSD   Bitcoin / U.S. Dollar
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BTC/USD is slightly recovering after making low of $259. Overall trend is bullish as long as support $254 (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 $254.Any break below will take the pair further down till $242/$233.

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy BTC/USD around $265, SL $254, Targets $285/$304.
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