A 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.
$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