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April 29, 2022

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.

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

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