FxWirePro: BTC/USD Trades Well Above $450, Good to Buy at Dips
- Major resistance -$465
- BTC/USD breaks major resistance $465 and jumped till $470 yesterday. It is currently trading around $458.
- Short term trend is bullish as long as support $434 holds
- The pair’s major support - $434 (7 day EMA) and any slight weakness can be seen only below $433.
- Any break below $434 will drag the pair down till $420 (55 day EMA)/$385 (200 day EMA).
- On the higher side resistance is at $470 (Yesterday high) and any indicative break above targets $480/$504/$550.
It is good to buy at dips around $450 with SL around $434 for the TP of $480/$504/$550.
The material has been provided by InstaForex Company - www.instaforex.com