# FxWirePro- BTCUSD Daily Outlook By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/investing/11017 Published: 2024-01-05T01:41:14.000Z Updated: 2024-01-05T01:42:28.000Z Section: Investing > BTCUSD pared some of its gains after less dovish FOMC meeting minutes. The minutes meeting confirm that rates are at a peak and inflation is cooling down. The central bank will take further action depending on economi… BTCUSD pared some of its gains after less dovish FOMC meeting minutes. The minutes meeting confirm that rates are at a peak and inflation is cooling down. The central bank will take further action depending on economic data. It hit a low of $41454 and is currently trading around $43246. BTC ETF According to a crypto investment services provider Matrixport, the US SEC is expected to reject all BTC ETFs. The commission will approve a spot ETF by Jan 10th. Major Economic data for the week Economic calendar - Jan 4th, 2024, US ADP Employment (1:15 pm GMT) US initial jobless claims FOMC meeting minutes (7:00 pm GMT) Factors to watch for Bitcoin price action- US markets - NASDAQ (negative correlation with BTC) - Bullish (neutral for BTC). The 60-day correlation between Bitcoin and NASDAQ 100 turned negative, according to data from Kaiko. Any break below 16330 will drag the index to 16000/15695. According to the CME Fed watch tool, the probability of a no-rate cut in Jan increased to 91.20% from 81.40% a week ago. Technicals- Minor support- $43000. Any break below will take it to the next level at $41590/$40700. Bull case- Primary supply zone -$46000. Any surge past this level confirms a bullish continuation. A jump to $48000/$50000 is possible. Secondary barrier- $50000. A close above that barrier targets $52000/$56600. It is good to buy on dips around $41800 with SL around $39800 for TP of $50000. [TokenPost]() | info@tokenpost.com ## Links in this article - [TokenPost](https://www.tokenpost.com)