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SpanishA Daily Outlook: BTC/USD; April 07, 2022
Top 5 Headlines on Digital Currency:
- Bitcoin transaction fees have hit an all-time low – Investing.
- World’s largest darknet marketplace, Hydra, gets shut down. The operation happened with coordination between the German authorities and the US law enforcement – Investing.
- MicroStrategy announced that the company has bought $190.5 million BTC – Investing.
- Vantage Bank in Laredo, Texas is launching an alternative to traditional saving plans to its employees – the Bitcoin Savings Plan – Investing.
- Canadian Bitcoin (BTC) exchange-traded fund (ETF) holdings have increased to all-time highs, according to recent research, and spot-based products are leading the way – Investing.
Technical View:
- The BTC recovers slightly from previous losses and remains well supported above $43,000 mark.
- The pair made intraday high at $43,563 and low at $42,741 mark.
- Today a day chart is up and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $44,200 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $42,900 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $42,500 | $44,200 |
| $42,050 | $44,800 |
| $41,650 | $45,100 |
| $41,100 | $45,550 |
| $40,800 | $45,990 |
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