FxWirePro- BTCUSD Daily Outlook

BTCUSD consolidating in a narrow range between $67249 and $65837 for the past two days. It hit a high of $67057 at the time of writing and is currently trading around $66054.

US major investment banker Morgan Stanley has filed a prospectus to add BTC in two of its funds. The company already filed for BTC exposure in twelve of its funds earlier this month.

  US markets -

 NASDAQ (negative correlation with BTC) - Bearish (neutral for BTC). The NASDAQ showed a minor pullback after upbeat Tesla earnings.. Any close above 18000 will take the index to 18500/18700.

According to the CME Fed watch tool, the probability of a no-rate cut in June increased to 84.60% from 82.70% 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- $60000.  Any break below will take it to the next level at $55990/$51825.

 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 $60000 with SL around $57000 for TP of $75000.