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FxWirePro: BTC/USD takes support near 200 day 4HMA, good to buy at dips

  • BTC/USD has made a low of $250 and slightly recovered from that level. It is currently trading at $256. Short term trend is bullish as long as support $247 holds.

  •  The major support is around $247 (200 day MA) and break below will drag the pair further down till $232/$220.

  • The pair's minor resistance is around $266 and any break above would extend gains till $276/$290.

 Indicator (Daily chart)

CCI (50) -Sell

Ichimoku- Sell

We prefer to buy at dips around $255 with stop around $247 for the target of $275/$286.

 

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