BTCUSD Daily TA Cautiously Bullish. Recommended ratio: 70% BTC, 30% Cash. *US July Manufacturing PMI was reported today and showed a slight slowdown in manufacturing activity dropping from 52.7 last month to 52.3 this month; this sent Equities and Cryptos lower but again helps confirm that the Fed is being effective in reducing demand as a means of curbing inflation. California now accepts cryptocurrencies for campaign donations. FTX is in talks to buy South Korean crypto exchange Bithumb. Bitcoin is at a critical juncture as it currently tests the 200 MA as support for the first time since April of this year. The Merge expected in September will likely continue to have a bullish effect on cryptos through the rest of this month and most of August.* Price is currently testing the 200 MA as support at $22.8k after being rejected at $24180 minor resistance on the first test. Volume is Moderate and currently on track to favor sellers for a third consecutive session at this critical resistance, this is mildly bearish. Parabolic SAR flips bearish at $19.7k, this margin is neutral at the moment. RSI is currently testing the 50/50 uptrend line from 11/18 as support at 57 support; the next support is the descending trendline from January 2021 which would coincide with the uptrend line from 06/22 at ~48. Stochastic crossed over bearish in today's session and is currently trending down at 93, it is still technically in the 'bullish autobahn' but if it falls out then the next support is at 78. MACD remains bullish and is currently trending up slightly at 200 as it begins to form a soft peak just below 313 resistance (critical). ADX is currently flatlining at 23 (a sign of bottoming) as Price is attempting to keep the bullish momentum going, if ADX starts to go up in conjunction with Price this would be bullish; and if it starts to go up and Price goes down, this would be bearish. If Price is able to defend support at the 200 MA ($22.8k), it will have to break above $24180 minor resistance before it can retest the descending trendline from November 2021 at $30k as resistance. However, if Price loses support at the 200 MA ($22.8k), then it will likely retest $20k psychological support and/or $19417 support. Mental Stop Loss: (one close below) $21.6k.