# FxWirePro- BTCUSD Daily Outlook By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/investing/11360 Published: 2024-03-06T09:52:43.000Z Updated: 2024-03-06T09:52:43.000Z Section: Investing > BTCUSD pared some of its gains after surging near all-time highs. It hit a high of $68850 yesterday and is currently trading around $66701. BTCUSD pared some of its gains after surging near all-time highs. It hit a high of $68850 yesterday and is currently trading around $66701. Stanford University's Blyth Fund has bought BTC with a 7% allocation of the total portfolio. Factors to watch for Bitcoin price action- US markets - NASDAQ (negative correlation with BTC) - Bullish (neutral for BTC). The NASDAQ showed a minor sell-off due to profit booking after hitting an all-time high of 18372. Any close above 18350 will take the index to 18500. According to the CME Fed watch tool, the probability of a no-rate cut in Mar decreased to 97% from 98% a week ago. Technicals- BTCUSD trades above the short-term moving average (21 and 55 EMA) and above the long-term moving average (200 EMA) in the daily chart. Minor support- $60000. Any break below will take it to the next level at $57900/$57450/$55000. Bull case- Primary supply zone -$69000. Any close above confirms a bullish continuation. A jump to $75000 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 $69000. [TokenPost]() | info@tokenpost.com ## Links in this article - [TokenPost](https://www.tokenpost.com)