- BTC/USD has made a high of $299 and slightly retreated from that level. Overall trend is bullish as long as support $272 (55 day EMA) holds.
- It is facing short term resistance around $308 and any break above could pave the way for next target $342 (61.8% retracement of $162.68 and $454).
- Any short term trend reversal can happen only below $ break below will take the pair further down till $259/$ support is around $285(Kijun -Sen).
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy BTC/USD around $282, SL $272, Targets $304/$340.