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