BTC Daily TA Cautiously Bullish
BTCUSD Daily cautiously bullish. Recommended ratio: 75% BTC, 25% Cash. *July US Housing Starts are down -9.5% from June (compared to -2.5% consensus estimates); July US Building Permits are down -1.3% from June but are up 1.1% from June of 2021. The big miss on Housing Starts is reflective of recessionary fears and rising interest rates hindering people from wanting to commit to a mortgage right now. The 5th GDPNow US Q3 GDP estimate is 1.8%, down from 2.5% in the 4th estimate on 08/10. Major cryptos continue to lag behind Equities while altcoins are seeing a majority of the gains recently, which begs the question of wen BTC? Treasuries, Equities and Crypto are up and DXY, Gold, Commodities (aside from Nat Gas) are flat or down. Key dates this week: US Retail Sales at 830am EST 08/17; FOMC Minutes 2pm EST 08/17.* Price is currently testing $24180 minor support after briefly testing the lower trendline of the Ascending Triangle from 07/18/22 at 23.5k as support, the Ascending Triangle formation is still valid. Volume remains Moderate and is on track to favor sellers if it closes today's session in the red. Parabolic SAR flips bearish at 22.8k, this margin is mildly bearish at the moment. RSI is currently testing the uptrend line from 06/18 at 54; and though it appears far at the moment, it's still technically testing the 50/50 uptrend line from November 2018 + 57.34 support. Stochastic remains bearish and is currently trending down at 62 with no signs of trough formation, the next support is at 55.55; it's also still technically testing 78 support but is on the verge of losing it if the D% line falls below 78 (it is currently at 78.5). MACD remains bullish and is currently trending down at 490, if it crosses below 470 it would be a bearish crossover. ADX is currently trending sideways at 22 as Price continues to see selling pressure, this is neutral at the moment. If Price is able to break (and close) above $24180 resistance, the next likely target is a retest of the descending trendline from November 2021 at 
27K-28k as resistance. However, if Price breaks below the lower trendline of the Ascending Triangle from 07/18 at 23.5k as support then it will likely retest the 50 MA at ~22.2k as support before potentially retesting the uptrend line from 06/18/22 at 20k psychological support. Mental Stop Loss: (two consecutive closes below) 23.5k.
27K-28k as resistance. However, if Price breaks below the lower trendline of the Ascending Triangle from 07/18 at 23.5k as support then it will likely retest the 50 MA at ~22.2k as support before potentially retesting the uptrend line from 06/18/22 at 20k psychological support. Mental Stop Loss: (two consecutive closes below) 23.5k. 
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.