BTC/USD trades well above 200 day MA, targets $272

BTC/USD has broken minor resistance $250 and jumped till $256 It is currently trading at $254. Short term trend is bullish as long as support $235 holds

The major resistance is around $258and break above will take the pair to next target $272/$276.

The pair’s minor support is around $245 and any break below will drag the pair further down till $240/$235.

Bullish invalidation only below $234

Indicator (Daily chart)

CCI (50) –Buy

Ichimoku- Buy

We prefer to buy around $250 with SL around $244 for the TP of $272/$280.