Description
⋅ 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.