FxWirePro: BTC/USD Faces Resistance at $457, Good to Buy at Dips

FxWirePro: BTC/USD Faces Resistance at $457, Good to Buy at Dips

2 May 2016, 11:16
Roberto Jacobs
0
10

FxWirePro: BTC/USD Faces Resistance at $457, Good to Buy at Dips

  • Major resistance -$457 (61.8% retracement of $469.87 and $435) 
  • BTC/USD has retreated after making a low of $456.60.It is currently trading around $446.99. 
  • 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 $457 and any indicative break above targets $470/$504/$550.

It is good to buy at dips around $445 with SL around $434 for the TP of $480/$504/$550.

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