BTCUSD trades flat with a long-term bias positive. It hit a high of $66588 at the time of writing and is currently trading around $66230.
CME Group, the world's largest futures exchange to launch BTC trading which will boost prices further higher.
US markets -
NASDAQ (negative correlation with BTC) - Bullish (neutral for BTC). The NASDAQ showed a minor profit booking after hitting a fresh all-time high. Any close above 18800 will take the index to 19000.
According to the CME Fed watch tool, the probability of a no-rate cut in June decreased to 91.3% from 96.5% a week ago.
Technicals-
BTCUSD trades above the short-term moving average (21 and 55 EMA) and the long-term moving average (200 EMA) in the 4-hour chart.
Minor support- $63000. Any break below will take it to the next level at $60000/$56000/$50000.
Bull case-
Primary supply zone -$67500. Any break above confirms a bullish continuation. A jump to $70000/$73500 is possible.
Secondary barrier- $75000. A close above that barrier targets $80000.
It is good to buy on dips around $63000 with SL around $60000 for TP of $70000.
