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Daily chart

BTC


 

Daily chart 


 

Important levels marked off for us..


 

Red box is the major resistance around 71.5K

Yellow dotted lines are support and resistance levels 

Green boxes are our major areas of support


 

EMAs 

Red - 20

Orange - 50 

Light blue - 100

Dark blue -200

We would want to look to bounce off 50, 100 or 200


 

All eyes will be on FOMC tomorrow to see if we get a rate cut to match Europe and Canada’s, at the moment it’s still looking like no cuts which one would think will continue the bleed down to the range lows which should tie in with the 200EMA, if we get a cut then BTC will fly. 


 

Zoom out and we’re still bullish, this is just another consolidation in the current ranges, lose the 200 EMA on a daily close then we need to evaluate the market conditions. 


 

Lots of bearish people out there but also a lot of smart money buying these dips.