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SpanishA Big Move Likely to Come In BTC Trading, Does it take the BTC Up or Down?; Jan 10, 2022
Top 5 Headlines on Digital Currency:
- LCX exchange has lost a gargantuan $6.8 million in one of its hot wallets to hackers. Coming up with the news, the company has officially confirmed the incident after it suspended deposits and withdrawals – Investing.
- On Friday, PayPal Holdings Inc publicly announced its plans to roll out its own stablecoin as stated in a Bloomberg news article – Investing.
- Bitcoin miners made more than $15 billion in revenue over the course of 2021, according to The Block Research – Investing.
- Despite major internet blackouts amid anti – government protests in Kazakhstan, some Bitcoin (BTC) miners operating in the country are not planning to leave the country just yet – Investing.
- On Friday, JPMorgan analyst Kenneth Worthington gave bullish commentary on the cryptocurrency industry and crypto exchange Coinbase Global Inc – Investing.
Technical View:
- The BTC moves in rigid boundaries and hovers around $42,000 mark.
- The pair made intraday high at $42,256 and low at $41,607 mark.
- Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $43,100 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $40,500 will check further supports.
| SUPPORTS | RESISTANCES |
| $40,500 | $43,100 |
| $40,120 | $43,800 |
| $39,760 | $44,200 |
| $39,300 | $44,920 |
| $39,000 | $45,500 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills