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SpanishA Daily Outlook: BTC/USD; April 25, 2022
Top 5 Headlines on Digital Currency:
- Kraken will open an office in Abu Dhabi and become the first exchange to offer UAE dirham trading after receiving a full license to operate in the country, Curtis Ting, Kraken’s managing director for Europe, the Middle East and Africa – CNBC.
- The Middle East is one of the fastest-growing cryptocurrency markets in the world, making up 7% of global trading volumes, according to Chainalysis – CNBC.
- The United States Treasury Department has added three Ethereum wallet addresses to sanctions allegedly linked to the hacker group responsible for the theft of more than $600 million in crypto from nonfungible token game Axie Infinity’s Ronin sidechain – Investing.
- Ethereum scaling solution Polygon has launched a new network for Web3 development, pledging $100 million to early users who can help fast-track adoption – Investing.
- The Ukrainian central bank officially announced a set of restrictions on cross-border operations, prohibiting individuals from buying cryptocurrencies like Bitcoin (BTC) with the national fiat currency, the hryvnia (UAH).
Technical View:
- The BTC starts a new week on a lower note and stabilizes around $39,000 mark.
- The pair made intraday high at $39,517 and low at $38,697 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $40,100 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $38,500 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $38,500 | $40,100 |
| $38,100 | $40,800 |
| $37,500 | $42,200 |
| $37,000 | $42,800 |
| $36,550 | $43,400 |
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