For a benevolent bearwhale it's easily possible to break the resistance in a (I suppose) flash-crash to finally get rid of the weak hands that cling on to the "established" resistance. Whenever you are talking about possibilities: Never forget, it is still bitcoin you are talking about. Hence everything is possible!
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BTC/USD is trading well above both short term resistance $237 (trend line joining $269.90 and $258.80) and also long term resistance $225 (trend line joining $299 and $257.48) and this confirms short term bullishness, a jump till $258 cannot be ruled out.
The pair's major resistance is around $244
On the down side short term weakness only below $224 and any break below will take the pair further down till $211.
Indicator (Daily chart)
CCI (50) - Buy
Woodies CCI (14) - Buy
Ichimoku- Buy
It is good to buy around $235 with stop around $224 for the target of $258.
(Source: http://fxwire.pro/BTC/USD-Short-Term-outlook-32776)
I'd be quite scared if we indeed go below $213 from here. Some serious panic might kick in, and depending on when it would happen, we'd be left with no more support lines or resistance lines that are broken. There's this slight bullishness that seems to persist currently, but I agree that it will be difficult to break above $244, we've established quite some resistance there!
BTC/USD is trading well above both short term resistance $237 (trend line joining $269.90 and $258.80) and also long term resistance $225 (trend line joining $299 and $257.48) and this confirms short term bullishness, a jump till $258 cannot be ruled out.
The pair's major resistance is around $244
On the down side short term weakness only below $224 and any break below will take the pair further down till $211.
Indicator (Daily chart)
CCI (50) - Buy
Woodies CCI (14) - Buy
Ichimoku- Buy
It is good to buy around $235 with stop around $224 for the target of $258.
(Source: http://fxwire.pro/BTC/USD-Short-Term-outlook-32776)
I'd be quite scared if we indeed go below $213 from here. Some serious panic might kick in, and depending on when it would happen, we'd be left with no more support lines or resistance lines that are broken. There's this slight bullishness that seems to persist currently, but I agree that it will be difficult to break above $244, we've established quite some resistance there!