BTC/USD Hits Two Month High, Jump Till $480/$504 Is Possible

BTC/USD Hits Two Month High, Jump Till $480/$504 Is Possible

22 April 2016, 10:30
Roberto Jacobs
0
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BTC/USD Hits Two Month High, Jump Till $480/$504 Is Possible

  • BTC/USD breaks major resistance $448 and hits two month high yesterday. The pair has slightly retreated after making a high of $452. 
  • The pair has consolidating between $410-$430 for several weeks and broken major resistance $448 yesterday. 
  • The pair’s major support - $433 (7 day EMA) and any slight weakness can be seen only below $433. 
  • Any break below $433 will drag the pair down till $420 (55 day EMA)/$385 (200 day EMA). 
  • On the higher side resistance is at $452.11 (Yesterday high) and any indicative break above targets $465/$480/$504.

It is good to buy at dips around $443-$445 with SL around $432 for the TP of $465/$480/$504.

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