FxWirePro: BTC/USD Trades Well Above $450, Good to Buy at Dips

FxWirePro: BTC/USD Trades Well Above $450, Good to Buy at Dips

25 April 2016, 12:22
Roberto Jacobs
0
7

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



Share it with friends: