A 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.
$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