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SpanishA Daily Outlook: BTC/USD; April 12, 2022
Top 5 Headlines on Digital Currency:
- Crypto investment company Ark Invest founder Cathie Wood has dumped all of the firm’s holdings of PayPal (NASDAQ:PYPL) and showed greater confidence in the long-term growth of the Cash App payment system which uses the Bitcoin (BTC) Lightning Network – Investing.
- Data from Cointelegraph Markets Pro and TradingView showed last week’s downtrend gathering pace Monday after a disappointing weekly close. Bitcoin keeps falling as former BitMEX CEO gives $30K BTC price target for June – Investing.
- Ripio, the Latin American cryptocurrency platform, reported that it expects to make its official launch in Colombia in approximately two months, according to the website criptonoticias.com – Investing.
- English company Copper Technologies is planning to develop a top-level brokerage cryptocurrency platform. The firm, which specializes in providing infrastructure for digital assets, has recruited former Bank of America (NYSE:BAC) executives to run its new managing unit – Investing.
- Google, Disney, PayPal, Amazon, and Others on a Crypto Hiring Spree – Investing.
Technical View:
- The BTC recovers slightly from previous losses and hovers around $40,000 mark.
- The pair made intraday high at $40,207 and low at $39,296 mark.
- Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $40,800 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $39,200 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $39,500 | $40,800 |
| $39,050 | $41,500 |
| $38,650 | $41,900 |
| $38,100 | $42,300 |
| $37,800 | $42,800 |
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