BTC/USD faces resistance at $425,break above targets $465

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
211 0 4
Major resistance - $425

BTC/USD has broken major resistance $409 and jumped till $421 at the time of writing. It is currently trading around $419. Short term trend is slightly bullish as long as support $390 holds.

On the higher side any break above $425 will take the pair till $450/$465.

The pair’s major support is around $390 and any break below will drag the pair further down till $370/$350.

Overall trend reversal only below $350.

It is good to buy above $425 with SL around $405 for the TP of $450/$465.

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