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SpanishA Daily Outlook: BTC/USD; April 27, 2022
Top 5 Headlines on Digital Currency:
- The New York State Assembly passed a bill late on Tuesday April 26 that would place a two-year ban on all new proof-of-work (PoW) cryptocurrency mining facilities in the state that use a carbon based fuel to power their operations – Investing.
- A recent study by the Central Bank of Spain shows that DEXs and unbacked cryptocurrencies are very popular in the European crypto scene – Investing.
- The launch of Australia’s first three Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETF) scheduled for today, has been delayed as a result of further “checks” needing to be completed – Investing.
- Argentina’s Schools will Teach About Bitcoin and Blockchain – Investing.
- According to recent research, Bitcoin adoption has failed to take off in El Salvador. The research was led by the National Bureau of Economic Research (NBER), an American nonprofit research organization. As a result, more than 60% of respondents dumped the government’s Chivo wallet after using the $30 bonus – Investing.
Technical View:
- The BTC recovers slightly from previous losses and stabilizes back above $38,000 mark.
- The pair made intraday high at $38,551 and low at $37,885 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $39,300 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $38,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $37,800 | $39,300 |
| $37,100 | $39,780 |
| $36,550 | $40,200 |
| $36,200 | $40,800 |
| $35,900 | $41,250 |
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