dailytaguy

BTC/USD Daily TA Neutral Bearish

COINBASE:BTCUSD   Bitcoin
BTC/USD Daily neutral with a bearish bias. *BTC has been consolidating at $30k for 32 consecutive sessions now and is becoming more bearish every day now.* Recommended ratio: 35% BTC, 65% Cash. Price is currently trending down at $30k after being rejected by $30507, it still has support at the 50/50 uptrend line from March 2017 at $29.5k but if it breaks below that level it would be very bearish. Volume remains Moderate and is currently on track to both favor sellers and shrink for a third consecutive session, implying that a breakout/breakdown is due (leaning toward breakdown). Parabolic SAR flips bearish at $29250, this margin is mildly bearish. RSI is currently trending sideways at 45 where it is testing the uptrend line from 01/22/22 as support. Stochastic is currently crossing over bearish at 77.95 resistance. MACD remains bullish and is currently trending up slightly at -564 as it is beginning to form a peak; it is still technically testing -868 minor resistance. ADX is trending down at 24 as Price continues to hover around $30k, this is mildly bearish. If Price is able to defend support at the 50/50 uptrend line from March 2017 at $29.5k then it will likely retest $30507 resistance before potentially breaking out higher. However, if Price breaks down below $29.5k, the next likely target is a test of $24180 minor support (before potentially falling lower). Mental Stop Loss: (two consecutive closes above) $30507.

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