FxWirePro: BTC/USD Takes Support Near 21 Day MA, Good to Buy at Dips

FxWirePro: BTC/USD Takes Support Near 21 Day MA, Good to Buy at Dips

28 April 2016, 11:50
Roberto Jacobs
0
8

FxWirePro: BTC/USD Takes Support Near 21 Day MA, Good to Buy at Dips

  • Major resistance -$470 
  • BTC/USD has broken minor support $450 and declined till $435at the time of writing. It is currently trading around $448. 
  • Short term trend is bullish as long as support $435 holds 
  • The pair’s major support - $435 (21 day MA) and any slight weakness can be seen only below $432. 
  • Any break below $435 will drag the pair down till $420 (55 day EMA)/$385 (200 day EMA).The minor support is around $453(7 day EMA)/$440. 
  • On the higher side resistance is at $470 (Yesterday high) and any indicative break above targets $480/$504/$550.The minor resistance is around $452/$461

It is good to buy at dips around $445 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: