FxWirePro- BTCUSD Daily Outlook

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.