A 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.
$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