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April 8, 2022

A Daily Outlook: BTC/USD, April 08, 2022

Top 5 Headlines on Digital Currency:

Payments provider Bolt has announced plans to acquire cryptocurrency infrastructure provider Wyre to allow its customers to have more access to Bitcoin and the NFT space – Investing.
Ultimate Fighting Championship (UFC) has announced a new cryptocurrency bonus for its pay-per-view events. According to the announcement, the championship will distribute $60,000 worth of Bitcoin to fighters, determined by a fan vote – Investing.
The decentralized network Interplay wants to increase the security of user funds by introducing a new protocol for Bitcoin’s reciprocal relationship with DeFi. The network has already published a whitepaper on the matter to improve the capital efficiency of vaults via self-custody of BTC DeFi across chains – Investing.
The president of El Salvador and Bitcoin advocate, Nayib Bukele canceled his appearance at the Miami Bitcoin Conference 2022, scheduled on April 6-9. Due to a surge in gang-related violence in El Salvador, Bukele declared a state of emergency in the country 12 days ago – Investing.
Singaporean fintech adds Bitcoin payments for merchants with BitPay partnership – Investing.

Technical View:

The BTC remained almost unchanged after U.S. Treasury Sec Yellen’s comments and currently trading around $43,500 mark.
The pair made intraday high at $43,712 and low at $43,310 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

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