BTCUSD Daily cautiously bearish. Recommended ratio: 15% BTC, 85% Cash. *Markets seemed to like the Fed's decision to go with a 75 bp rate hike, but with the next PMI report arriving on June 23rd it's unclear how long this excitement will last. If PMI comes in higher than last month and by a larger percentage than the previous report, it would imply that inflation is still raging and markets will likely react negatively; if it comes in higher than last month but by a lesser percentage than the previous report, it will likely signal that inflation is slowing and markets may react negatively but perhaps more briefly than in the previous scenario; and if it somehow comes in lower than it did in May we may see a stronger rally to end the month. The next CPI report is due July 13th and the next FOMC meeting is July 26-27. Vlad the Not so Great is likely going to continue escalating the war in Ukraine, China's 'Zero-Covid' Policy may or may not come to a halt come Autumn when it is election time for the CCP, and the situation between China/Taiwan/Japan and the South and East China Sea is still a wildcard for the end of 2022. Lots to be vigilant about so stay safe.* Price is currently forming a Bull Flag bottom in effort to reclaim $24180 minor support and avoid formally testing $19417 support. Volume remains high and is currently on track to favor buyers if it can close this session in the green; buyers reacted positively to the FOMC decision to raise the Fed Funds Rate by 75 bps. Parabolic SAR flips bullish at $31150, this margin is mildly bullish at the moment. RSI is currently trending up at 25.60 support as it attempts to reclaim support at the uptrend line form 01/22/22. Stochastic remains bearish and is currently trending sideways at max bottom; though it can coast in the "bearish autobahn zone" for some time, a bullish crossover is likely pending. MACD remains bearish and is currently trending down at -2037; the next support (minor) is at -2497 and the next resistance -1435 (still very loosely can act as support with a bounce here). ADX is currently trending up at 32 as Price is attempting to find a bottom, this is mildly bearish. If Price is able to continue the move upward it will likely test $24180 minor resistance before potentially going higher to test the 50/50 uptrend line from August 2017 at $29k. However, if Price breaks down here then it will likely test $19417 support. Mental Stop Loss: (two consecutive closes above) $24180.
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