FxWirePro- BTCUSD Daily Outlook

Potential reversal zone- $52530.

BTCUSD  showed a minor pullback ahead of US Non-farm payroll data. It hit a low of  $59860  and is currently trading at around $61428.

BTC ETF

BTCETF saw outflows of $52M yesterday led by ARK 21 shares seen a withdrawal of -$58 million, According Spot On Chain data.

US markets -

NASDAQ (No correlation with BTC) - Bullish  (neutral for BTC). The NASDAQ trades flat ahead of US job data. Any close above 20000 will take the index to 20500.

 Technicals-

BTCUSD trades below the short-term moving average 34- EMA and 55 EMA and the above long-term moving average (200 EMA) in the 4-hour chart.

Minor support- $57000.  Any break below will take it to the next level at $55000/$52500/$50000/$46000.

 Bull case-

Primary supply zone -$63000.  Any break above confirms an intraday bullishness. A jump to $70000 is possible.      

  Secondary barrier- $70000. A close above that barrier targets $750000/$80000.

Indicator (4-hour chart)

CCI (50)- Bearish

Average directional movement Index - Bearish

 It is good to buy on dips around $60000 with SL around $57000 for TP of $70000.