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April 12, 2022

A 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

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