BTCUSD Daily guidance is neutral with a bearish bias. Recommended ratio: 40% BTC, 60% Cash.
*Cryptos are giving back some of the gains they made last night and are now trading mainly flat for the weekend. The White House administration (once again) urged the SEC and CFTC yesterday to double down on developing new Crypto regulations to protect investors. Key Upcoming Dates: US August Building Permits and Housing Starts at 830am EST 09/20; 13th GDPNow US Q3 GDP estimate 09/20; FOMC meeting 09/20-09/21 (Statement Released at 2pm EST on 09/21); S&P US September Manufacturing PMI at 945am EST 09/23.*
Price continues to hover around $20k psychological support for a fifth consecutive session. Volume finished yesterday's session Moderate and has favored buyers in the past two sessions, it's currently on track to favor sellers in today's session if it closes in the red. Parabolic SAR flips bullish at $22466, this margin is neutral at the moment. RSI is currently testing the descending trendline from January 2021 at 45 as support, if it breaks below it will likely test 42.41 support. Stochastic is currently trending sideways and attempting to cross over bullish at 45; it's still technically testing 55.55 support. MACD remains bullish as it defies a bearish crossover at -327 for a second consecutive session just below -232 minor resistance; if it drops below -325 this would be a bearish crossover. ADX is currently trending down at 20 as Price continues to trend sideways, this is neutral at the moment.
If Price is able to bounce here then it will likely retest the 50 MA + the uptrend line from 06/18/22 at $21.6k as resistance. However, if Price breaks down here, it will likely formally retest $19417 support before potentially testing the uptrend line from March 2017 at $15k as support. Mental Stop Loss: (two consecutive closes above) $20315.
*Cryptos are giving back some of the gains they made last night and are now trading mainly flat for the weekend. The White House administration (once again) urged the SEC and CFTC yesterday to double down on developing new Crypto regulations to protect investors. Key Upcoming Dates: US August Building Permits and Housing Starts at 830am EST 09/20; 13th GDPNow US Q3 GDP estimate 09/20; FOMC meeting 09/20-09/21 (Statement Released at 2pm EST on 09/21); S&P US September Manufacturing PMI at 945am EST 09/23.*
Price continues to hover around $20k psychological support for a fifth consecutive session. Volume finished yesterday's session Moderate and has favored buyers in the past two sessions, it's currently on track to favor sellers in today's session if it closes in the red. Parabolic SAR flips bullish at $22466, this margin is neutral at the moment. RSI is currently testing the descending trendline from January 2021 at 45 as support, if it breaks below it will likely test 42.41 support. Stochastic is currently trending sideways and attempting to cross over bullish at 45; it's still technically testing 55.55 support. MACD remains bullish as it defies a bearish crossover at -327 for a second consecutive session just below -232 minor resistance; if it drops below -325 this would be a bearish crossover. ADX is currently trending down at 20 as Price continues to trend sideways, this is neutral at the moment.
If Price is able to bounce here then it will likely retest the 50 MA + the uptrend line from 06/18/22 at $21.6k as resistance. However, if Price breaks down here, it will likely formally retest $19417 support before potentially testing the uptrend line from March 2017 at $15k as support. Mental Stop Loss: (two consecutive closes above) $20315.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.