dailytaguy

BTC Daily TA Bullish

COINBASE:BTCUSD   Bitcoin
BTCUSD Daily bullish. Recommended ratio: 90% BTC, 10% Cash. *SUNDAY/MONDAY SCARIES WATCH. Cryptos are enjoying a mixed weekend with altcoins getting most of the gains while BTC and ETH stay relatively flat. The Sunday/Monday volatility seems to be rather tempered this weekend and it's reasonable to expect for more bullishness if Futures open green at 5pm today. Key dates this week: US Housing Starts and Building Permits at 830am EST 08/16; 5th GDPNow US Q3 GDP estimate at 915am EST 08/16; US Retail Sales at 830am EST 08/17; FOMC Minutes 2pm EST 08/17.* Price is currently breaking out above $24180 minor resistance after closing above it for the second consecutive session, the Ascending Triangle breakout is currently in play. Volume remains Moderate and is on track to favor buyers for a third consecutive session if it can close today's session in the green; this in conjunction with the attempted breakout is bullish. Parabolic SAR flips bearish at $22.7k, this margin is neutral at the moment. RSI is currently trending up slightly at 63 after reclaiming support of the 50/50 uptrend line from November 2018 at 58 and flipping 57 resistance to support; the next resistance is at 70. Stochastic remains bullish and is currently on the verge of testing max top. MACD remains bullish and continues trending up slightly at 580, the next resistance is at 890. ADX is currently trending up at 22 as Price is attempting to breakout of the Ascending Triangle, this is mildly bullish. If Price is able to continue up here, the next likely target is the Ascending Triangle breakout target of ~$28k as resistance which coincides with the descending trendline from November 2021. However, if Price breaks back down below $24180, it will likely retest the lower trendline of the Ascending Triangle at ~$23k as support before potentially falling lower to retest the uptrend line from 06/18/22 at $20k psychological support. Mental Stop Loss: (one close below) $22.5k.

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