BTC Daily cautiously bullish. Recommended ratio: 80% BTC, 20% Cash. *Cryptos continue to enjoy a rally largely inspired by Ethereum's anticipated Merge date (09/19/22) and risk beginning to reenter money markets on: news that Nord Stream is reopening; the Fed effectively hindering demand in attempt to ring in inflation; and the DXY finally showing signs of having reached a local top. FTX Founder and CEO Sam Bankman Fried said on July 8th that most of the unwind (deleveraging) in crypto is behind us, this will likely be true if there isn't another liquidity crisis this year (due to war escalation, increased supply chain disruption, etc.). SEC Chair Gary Gensler spoke to Bloomberg TV today and mentioned that there are too many platforms that haven't registered with the SEC yet still are classified as securities and that the SEC will continue to bring "robust enforcement actions" all while being "technology neutral". Bitcoin fell 75% to $17.5k from its ATH of $69k and is currently 35% up from that low; at the current Price (~$23.5k) BTC is still 65% down from its ATH of $69k.* Price is currently testing the 50 MA at ~$23k as resistance just below $24181 minor resistance. Volume is Moderate (high) and currently on track to favor buyers for a second consecutive session and for six of the past seven sessions, this is bullish at these Price levels. Parabolic SAR flips bearish at ~$19k, this margin is mildly bearish at the moment. RSI is currently trending up at 61 as it attempts to reclaim support at the uptrend line from November 2018 at 57; if it can do this, the next resistance is at 79. Stochastic is currently trending sideways at 94 as it continue to barely resist a bearish crossover in the "bullish autobahn", the next resistance is at max top. MACD remains bullish and is currently testing -232 minor resistance, if it breaks and closes above this level the next resistance is at 313. ADX is currently forming a soft trough at 24 as Price pushes higher, this is mildly bullish. If Price is able to break above the 50 MA and turn $24181 minor resistance to support, the next likely target is a test of the uptrend line from March 2017 + the descending trendline from November 2021 at (around) $30508 resistance. However, if Price is rejected here then it will likely retest $19417 support before potentially heading lower to retest the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $21.6k.