FxWirePro- BTCUSD On-chain metrics show bullishness, good to buy on dips

Potential reversal zone- $52530.

BTCUSD pared some of its gains on profit booking. It hit a high of $66508 yesterday and is currently trading at around $63623.

Whale alert -

A dormant address containing 50 BTC (3,290,473 USD) has just been activated after 10.8 years

BTCETF saw inflows of $494.40M on Thursday  led by ARK 21 shares 203 million USD. According Spot On Chain data.

Binance's BTC long-to-short ratio slightly decreased by 2.48% to 1.1. and above indicates asset price to rise.

US markets -

 NASDAQ (No correlation with BTC) - Bullish  (neutral for BTC). The NASDAQ holds above 20000 on weak  US PCE 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- $63000.  Any break below will take it to the next level at $57000/$55000/$52500/$50000/$46000.

 Bull case-

Primary supply zone -$67000.  Any break above confirms a 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)- Bullish

Average directional movement Index - Bullish

 It is good to buy on dips around $62700 with SL around $60000 for TP of $70000.