A Daily Outlook: BTC/USD; April 22, 2022

Top 5 Headlines on Digital Currency:

  • European Union (EU) officials discussed banning Bitcoin trading during a debate on a proposal to ban Proof of Work mining according to documents obtained through a freedom of information request – Investing.
  • United States House of Representatives member Jared Huffman and 12 other lawmakers have requested the Environmental Protection Agency, or EPA, assess crypto mining firms potentially violating environmental statutes – Investing.
  • The world’s leading cryptos gained all-time highs last year. And so did the multiple crypto investors, especially the ones from the United States, says blockchain analysis firm Chainalysis – Investing.
  • Sweden’s government is urging the European Union to prohibit energy-intensive cryptocurrency mining techniques such as those employed by Bitcoin – Investing.
  • According to a January report by the Bitcoin Mining Council, by Q4 2021, the global Bitcoin mining industry ran on an estimated 58.5% renewable energy – Investing.

Technical View:

  • The BTC trades flat on Friday and stabilizes above $40,000 mark.
  • The pair made intraday high at $40,808 and low at $40,237 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $41,250 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $39,300 on H1 chart requires for the downside rally.

Take a look and do trade wisely!
Good Luck