FxWirePro: BTC/USD Consolidates in Narrow Range, Good to Buy at Dips

FxWirePro: BTC/USD Consolidates in Narrow Range, Good to Buy at Dips

14 April 2016, 12:08
Roberto Jacobs
0
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FxWirePro: BTC/USD Consolidates in Narrow Range, Good to Buy at Dips

  • Major Resistance    - $428 
  • BTC/USD has slightly retreated  till $420.57 at the time of writing after making a high of $426.67. It is currently trading around $422. 
  • Short term trend is slightly bullish as long as support $400 holds. 
  • On the lower side major support is around $400 and any break below $390 will drag the pair down till $380/$350 is possible. 
  • BTC/USD major resistance is around $428 and break above targets $450/$465.The minor resistance is around $425. 

It is good to buy at dips around $420 with SL around $400 for the TP of $450/$465.

The material has been provided by InstaForex Company - www.instaforex.com



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