dailytaguy

BTC Daily TA Neutral Bullish

COINBASE:BTCUSD   Bitcoin
BTCUSD Daily neutral with a bullish bias. Recommended ratio: 60% BTC, 40% Cash. *As feared earlier this month, 3AC defaulted on a ~$660 million loan from crypto lender Voyager Digital that was collateralized by staking ETH. 3AC was also exposed to Luna/UST which probably triggered this insolvency crisis. SEC Chairman Gary Gensler also stated today that Bitcoin is probably the only crypto he would consider a commodity. Important dates to watch out for: Q1 GDP (3rd Estimate) due 8:30am (EST) 06/29 and Core PCE Price Index due 12:30pm (EST) 06/30.* Price is currently attempting to push higher at $20800 in order to test $24180 minor resistance but risks forming a bear flag before it gets there. Volume remains Low and appears to have broken the ten day session streak of shrinkage without breakout or breakdown (still premature to say); it is on track to favor sellers for a second consecutive session. Parabolic SAR flips bearish at $18075, this margin is neutral at the moment. RSI is currently trending down slightly at 34; the next support is at 25.60 and next resistance is at 42.41. Stochastic remains bullish and is currently beginning to form a peak at 93.50 where it may crossover bearish in the "bullish autobahn zone" (when Stochastic coasts at these levels it usually implies that a continuation rally is underway). MACD remains bullish and is currently trending up at -2245 with no sign of peak formation as it attempts to confirm -2497 as support. ADX is currently trending sideways at 45 as Price continues to attempt to breakout of the $20k level, this neutral at the moment; in the event ADX begins to trend down as Price goes up, this would be mildly bullish. If Price is able to breakout here then it will likely test $24180 minor resistance. However, if Price breaks down here, it will have $19417 support as the last defense before potentially testing the uptrend line from April 2017 at ~$15k for the first time since September 2020. Mental Stop Loss: (one close below) $19417.

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