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SpanishA Daily Outlook: BTC/USD; April 11, 2022
Top 5 Headlines on Digital Currency:
- Avalanche is one of the leading blockchains in the market. The network is praised because of the low gas fees and fast speeds. Avalanche is currently the fourth-largest blockchain by total-value locked (TVL). One of the key executives on the Avalanche blockchain, Kevin Sekniqi, has explained why simplicity is necessary for layer one networks on Web3. The executive has stated that simple blockchains will achieve the desired performance levels. – Investing.
- One enterprising Bitcoin miner is using the energy produced by his mining hardware to heat his swimming pool – Investing.
- Crypto investment company Ark Invest founder, Cathie Wood, has dumped all of the firm’s holdings of PayPal and showed greater confidence in the long-term growth of the Cash App payment system which uses the Bitcoin Lightning Network – Investing.
- Texas-based Bitcoin (BTC) mining operator Applied Blockchain Inc filed an initial public offering (IPO) application on Apr. 8 to the United States Securities and Exchange Commission (SEC) to issue 3,236,245 shares of common stock onto the Nasdaq Global Select Market with the ticker symbol APLD – Investing.
- cryptocurrency storage company Blockstream and Block Inc. (formerly Square) announced the construction of a solar-powered Bitcoin (BTC) mining facility in Texas. As told by Blockstream, the mining site will be outfitted with 3.8 megawatts (MW) of electrical capacity using Tesla (NASDAQ:TSLA)’s Solar photovoltaic cell array and a 12 MWh Megapack – Investing.
Technical View:
- The BTC falls gradually against U.S. dollar and stabilizes below $42,000 mark.
- The pair made intraday high at $42,415 and low at $41,777 mark.
- Today a day chart is up and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $42,720 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $41,100 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $41,100 | $42,720 |
| $40,800 | $43,200 |
| $40,350 | $43,790 |
| $40,000 | $44,500 |
| $39,680 | $45,100 |
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