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SpanishA Daily Outlook: BTC/USD; April 29, 2022
Top 5 Headlines on Digital Currency:
- The Decentralized Finance (DeFi) market has grown to become a space worth more than $200 billion – Investing.
- Goldman Sachs (NYSE:GS) has offered its first Bitcoin-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall Street – Investing.
- Lawmakers in Panama have passed a bill that will regulate cryptocurrencies, including Bitcoin, in the Latin American country – Investing.
- The UK government plans to propose a law that could help combat crypto crimes – Investing.
- Central African Republic’s adoption of bitcoin, while many of the world’s largest economies stay wary of it, has puzzled the cryptocurrency world and residents of the gold and diamond-producing country, and prompted caution from the IMF – Investing.
Technical View:
- The BTC trades in narrow range and stabilizes above $39,000 mark.
- The pair made intraday high at $39,923 and low at $39,278 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $40,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $39,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $39,000 | $40,500 |
| $38,500 | $40,800 |
| $38,050 | $41,300 |
| $37,680 | $41,900 |
| $37,100 | $42,500 |
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