BTC/USD Daily TA Cautiously Bullish
BTC/USD Daily cautiously bullish. Recommended ratio: 62% BTC, 38% cash. Price is continuing to rally after breaking out from the largest supply zone and is currently testing the lower trendline of the ascending channel from November 2020 at 46.6k as resistance (this is just below the 50 MA + 
48K resistance). Volume remains moderate and has favored buyers in the last two sessions, a green close today would likely fuel a run to 48K resistance. Parabolic SAR flips bearish just below $44741 minor support. RSI is trending sideways at 62 after bouncing from the descending trendline from January 2021, if it can stay above this trendline (coinciding with 57.34 support) then it will likely retest 78.53 resistance for the first time since October 2021. Stochastic is bearish and currently trending down at 43.86 after its first bullish crossover rejection since being bearish; it is still technically testing 55.55 support. MACD is bullish and currently on the verge of a bearish crossover at 1591, if it dips below 1464 it would flip bearish. ADX is trending down slightly at 24 as Price continues to push higher, this is mildly bearish. If Price is able to close above 46.6k, then it will likely retest the 50 MA at $48173 resistance. However, if Price breaks down here then it will likely retest $44741 minor support. Mental Stop Loss: (one close below) $44288.
**NOT FINANCIAL ADVICE BUT WTF IT DEF IS**
48K resistance). Volume remains moderate and has favored buyers in the last two sessions, a green close today would likely fuel a run to 48K resistance. Parabolic SAR flips bearish just below $44741 minor support. RSI is trending sideways at 62 after bouncing from the descending trendline from January 2021, if it can stay above this trendline (coinciding with 57.34 support) then it will likely retest 78.53 resistance for the first time since October 2021. Stochastic is bearish and currently trending down at 43.86 after its first bullish crossover rejection since being bearish; it is still technically testing 55.55 support. MACD is bullish and currently on the verge of a bearish crossover at 1591, if it dips below 1464 it would flip bearish. ADX is trending down slightly at 24 as Price continues to push higher, this is mildly bearish. If Price is able to close above 46.6k, then it will likely retest the 50 MA at $48173 resistance. However, if Price breaks down here then it will likely retest $44741 minor support. Mental Stop Loss: (one close below) $44288. **NOT FINANCIAL ADVICE BUT WTF IT DEF IS**
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