FXWIREPRO: BTC/USD Faces Strong Resistance Around $436, Good to Sell on Rallies
- Major resistance - $436 (trend line joining $502.48 and $465)
- BTC/USD has slightly retreated after making a high of $427.80 recovered till $417.55 at the time of writing after making a low of $403. It is currently trading around $415.89
- Short term trend is slightly weak as long as resistance $436 holds.
- On the lower side major support is around $390 (trend line joining $294 and $365) and any break below $390 will drag the pair down till $370/$350 is possible. The minor support is around $409 ( trend line joining $403 and $406.50)
- BTC/USD major resistance is around $436 and break above targets $450/$465.The minor resistance is around $425.
- It is good to sell on rallies around $425 with SL around $436 for the TP of $390/$370
The material has been provided by InstaForex Company - www.instaforex.com