BTC/USD Faces Strong Support at $435, Break Below Targets $400

BTC/USD Faces Strong Support at $435, Break Below Targets $400

20 May 2016, 12:36
Roberto Jacobs
0
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BTC/USD Faces Strong Support at $435, Break Below Targets $400

  • Major resistance -$470 (Apr 26th 2016) 
  • Major support - $435 
  • BTC/USD has once again slightly recovered after making a low of $435. It is currently trading around $442. 
  • The pair should break below $435 for further weakness. 
  • Any break below $435 will drag the pair down till $420 (55 day EMA)/$385 (200 day EMA).The minor support is around $448. 
  • On the higher side resistance is at $470 and any indicative break above targets $504/$550.


It is good to sell below $435 with SL around $451 for the TP of $409/$400

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