BTCUSD Daily cautiously bullish. Recommended ratio: 70% BTC, 30% Cash. *Cryptos (mainly altcoins like ONE, XTZ and GRT) are bullish over the weekend as almost all financial markets attempt to continue the relief rally with (dire) hopes of finding a bottom.* Price is currently trending sideways at $21500 as it continues to test $20k psychological (and critical) support. Volume is Low and currently on track to favor sellers for a second consecutive session. Parabolic SAR flips bearish at $18845, this margin is neutral at the moment. RSI is currently trending sideways at 47, just below the descending trendline from January 2021 at ~50 (critical resistance); if rejected here (confirmed) it would be bearish. Stochastic remains bullish and is currently trending sideways at max top in the 'autobahn zone'; this is bullish. MACD remains bullish and is currently testing -869 minor resistance, if it breaks above this level then the next resistance is at 313. ADX is currently trending down at 33 as Price continues to push higher, this is mildly bullish. If Price is able to continue up here above $22k (transfer from altcoin gains), then the next likely target is a test of $24181 minor resistance. However, if Price breaks down here, it will it will likely retest $19417 support before potentially testing the uptrend line from April 2017 at ~$15k as support for the first time since September 2020. Mental Stop Loss: (one close below) $20k.
Comment:
BTC has tested $20k psychological support for twenty five consecutive sessions now