BTC Daily TA Neutral Bullish
BTCUSD daily guidance is neutral bullish. Recommended ratio: 60% BTC, 40% Cash.
*Cryptos, Equities, EURUSD and GBPUSD are all down while Equity Futures, Commodities, DXY, US Treasuries and VIX are all up. OPEC+ and the USA continue their ongoing battle as OPEC+ defied USA requests to not cut output. Key Upcoming Dates: FOMC Member Loretta Mester speaks twice on 10/06; September US Employment Situation at 830am EST 10/07; FOMC Members Kashkari, Waller and Williams speak on 10/07; FOMC Minutes at 2pm EST 10/12; September US CPI at 830am EST 10/13; September US Retails Sales at 830am EST 10/14; UofM October Consumer Sentiment Index at 10am EST 10/15.*
Price is currently testing the 50 MA as resistance at ~$20100 after bouncing off of $19417 support. Volume is High (moderate) and on track to break a two day streak of buyer dominance if it can close today's session in the red. Parabolic SAR flips bearish at $18627, this margin is neutral at the moment. RSI is currently trending down at 54 after forming a peak just below 57.34 resistance, the next support is the descending trendline from January 2021 at 42.41. Stochastic remains bullish for a second consecutive session and is currently trending up at 96 as it approaches a test of max top with signs of a soft peak formation beginning to show. MACD remains bullish and is currently trending up slightly at ~-100 as it continues to technically test -232.42 minor resistance with signs of a soft peak formation beginning to show. ADX is currently trending down slightly at 18 as Price attempts to push higher, this is mildly bearish at the moment.
If Price is able to break out above the 50 MA at ~$20100 then it will likely retest the descending trendline from November 2021 at ~$22200 as resistance. However, if Price is rejected here, it will likely retest $19417 support before potentially falling lower to retest the uptrend line from March 2017 at ~15k as support. Mental Stop Loss: (two consecutive closes below) $19417.
*Cryptos, Equities, EURUSD and GBPUSD are all down while Equity Futures, Commodities, DXY, US Treasuries and VIX are all up. OPEC+ and the USA continue their ongoing battle as OPEC+ defied USA requests to not cut output. Key Upcoming Dates: FOMC Member Loretta Mester speaks twice on 10/06; September US Employment Situation at 830am EST 10/07; FOMC Members Kashkari, Waller and Williams speak on 10/07; FOMC Minutes at 2pm EST 10/12; September US CPI at 830am EST 10/13; September US Retails Sales at 830am EST 10/14; UofM October Consumer Sentiment Index at 10am EST 10/15.*
Price is currently testing the 50 MA as resistance at ~$20100 after bouncing off of $19417 support. Volume is High (moderate) and on track to break a two day streak of buyer dominance if it can close today's session in the red. Parabolic SAR flips bearish at $18627, this margin is neutral at the moment. RSI is currently trending down at 54 after forming a peak just below 57.34 resistance, the next support is the descending trendline from January 2021 at 42.41. Stochastic remains bullish for a second consecutive session and is currently trending up at 96 as it approaches a test of max top with signs of a soft peak formation beginning to show. MACD remains bullish and is currently trending up slightly at ~-100 as it continues to technically test -232.42 minor resistance with signs of a soft peak formation beginning to show. ADX is currently trending down slightly at 18 as Price attempts to push higher, this is mildly bearish at the moment.
If Price is able to break out above the 50 MA at ~$20100 then it will likely retest the descending trendline from November 2021 at ~$22200 as resistance. However, if Price is rejected here, it will likely retest $19417 support before potentially falling lower to retest the uptrend line from March 2017 at ~15k as support. Mental Stop Loss: (two consecutive closes below) $19417.
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