# FxWirePro- BTCUSD Daily Outlook By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/investing/13055 Published: 2024-09-18T21:55:57.000Z Updated: 2024-09-18T21:55:57.000Z Section: Investing > Chart pattern- Inverted Head and Shoulder Chart pattern- Inverted Head and Shoulder Potential reversal zone- $52530. BTCUSD showed a minor jump above neckline and struggled to hold above that level ahead of Fed monetary policy. It hit a high of $ 61377 and is currently trading at around $58506. According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep increased to 67% from 14% a week ago. US markets - NASDAQ (No correlation with BTC) - Bearish (neutral for BTC). The NASDAQ trades flat ahead of US Fed monetary policy. Any close above 20000 will take the index to 20500. Technicals- BTCUSD trades above the short-term moving average 34- EMA and below 55 EMA and below the 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 -$61800. Any break above confirms an intraday bullishness. A jump to $63000/$65000/$67000/$70000 is possible. Secondary barrier- $70000. A close above that barrier targets $750000/$80000. Indicator (8-hour chart) CCI (14)- Bullish CCI (50)- Bullish Average directional movement Index - Neutral It is good to buy on dips around $57500-550 with SL around $52000 for TP of $70000. [TokenPost]() | info@tokenpost.com ## Links in this article - [TokenPost](https://www.tokenpost.com)