FxWirePro: BTC/USD Struggles to Break Above $470, Good to Buy at Dips

FxWirePro: BTC/USD Struggles to Break Above $470, Good to Buy at Dips

26 April 2016, 11:47
Roberto Jacobs
0
7

FxWirePro: BTC/USD Struggles to Break Above $470, Good to Buy at Dips

  • Major resistance -$470 
  • BTC/USD has once again retreated after making a high of $469.47. It is currently trading around $464. 
  • Short term trend is bullish as long as support $432 holds 
  • The pair’s major support - $432 (21 day MA) and any slight weakness can be seen only below $432. 
  • Any break below $432 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: