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SpanishA Daily Outlook: BTC/USD; April 04, 2022
Top 5 Headlines on Digital Currency:
- The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for the ARK 21Shares Bitcoin exchange-traded fund (ETF) – Investing.
- Crypto is the next big thing in Indonesia. According to the Ministry of Trade, transactions for currencies like Bitcoin (BTC) grew over 14 times from a total of 60 trillion rupiahs ($4.1 billion) in 2020 to a total of 859 trillion rupiahs ($59.83 billion) in 2021 – Investing.
- The 19th millionth Bitcoin (BTC) was mined on Friday, a landmark occasion for the number one cryptocurrency. Nineteen million Bitcoin are now in circulation, with just 2 million Bitcoin yet to be minted (or mined) until roughly the year 2140 – Investing.
- The prime minister of Kyrgyzstan, Karim Khanjeza, moved to legalize cryptocurrency. During a meeting with the parliamentary committee on law and order, he endorsed regulation on the country’s crypto market and suggested law modifications to incorporate digital assets – Investing.
- American investment firm VanEck believes that Bitcoin has double the upside of gold and could be worth as much as $4.8 million per coin if it becomes the global reserve asset – Investing.
Technical View:
- The BTC continues to trade in rigid boundaries and consolidates around $46,500 mark.
- The pair made intraday high at $46,457 and low at $45,773 mark.
- Today a day chart is up and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $46,900 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $45,800 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $45,800 | $46,900 |
| $45,680 | $47,300 |
| $45,200 | $47,750 |
| $44,500 | $48,500 |
| $44,100 | $49,100 |
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