BTC/USD Daily TA Neutral Bearish
BTC/USD Daily neutral with a bearish bias. Bounce Watch. Recommended ratio: 40% BTC , 60% cash. Price is currently testing the 50/50 uptrend line from March 2017 (28.5k) as support for the fourth consecutive session. Volume has dropped significantly in the past two sessions and is now back to being moderately low as it is on track to favor buyers for a second consecutive session; this is mildly bearish because it indicates that a lot of the panic selling has slowed down. Parabolic SAR flips bullish at 
31K; this is mildly bullish . RSI is currently trending up slightly at 28 after bouncing from 25.60 support; the next resistance is the uptrend line from January 2022 at 42.41 resistance. Stochastic is currently in the process of reverting to a bullish crossover at 7 after only one day of being bearish ; the next resistance is at 29.70. MACD remains bearish and is currently beginning to form a trough at -3000 as it is still technically testing -2497 support. ADX is currently trending up at 41 as Price is testing a critical support, this is mildly bearish . If Price is able to defend support here at the 50/50 uptrend line from March 2017 (28.5k), then it will have to reestablish support at $30507 before it can test $36258 resistance. However, if Price breaks down here it will likely test $24180 minor support before potentially falling to 20k support ($19417). Mental Stop Loss: (two consecutive closes above) $30507.
**If Price loses this critical support, expect a 10-30% fall for BTC and most of the crypto market**
31K; this is mildly bullish . RSI is currently trending up slightly at 28 after bouncing from 25.60 support; the next resistance is the uptrend line from January 2022 at 42.41 resistance. Stochastic is currently in the process of reverting to a bullish crossover at 7 after only one day of being bearish ; the next resistance is at 29.70. MACD remains bearish and is currently beginning to form a trough at -3000 as it is still technically testing -2497 support. ADX is currently trending up at 41 as Price is testing a critical support, this is mildly bearish . If Price is able to defend support here at the 50/50 uptrend line from March 2017 (28.5k), then it will have to reestablish support at $30507 before it can test $36258 resistance. However, if Price breaks down here it will likely test $24180 minor support before potentially falling to 20k support ($19417). Mental Stop Loss: (two consecutive closes above) $30507.**If Price loses this critical support, expect a 10-30% fall for BTC and most of the crypto market**
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