A Daily Outlook: BTC/USD; Aug 01, 2022

Top Headlines on Digital Currency:

  • The buzz around Cardano on social media was observed to be dropping along with the alt’s trading volume. According to the data shared by The TIE, the latter has plummeted to a six-month low.
  • A number of massive plans for the rest of 2022 were revealed for the Layer 2 scaling platform. This includes its mission to onboard a million developers to Polygon’s ecosystem. It would be achieved by focussing on three key areas – product, events, and accelerators.
  • Solana-based Nirvana has lost almost $3.5 million to a flash loan attack. Reports have observed the exploit to be similar to the one that affected Crema Finance earlier in July.
  • Solana has opened its first physical store in the Hudson Yards area of New York City.
  • The city of Miami is planning on launching a total of 5,000 Ethereum NFTs.

Source: ambcrypto

Technical View:

  • The BTC trades flat on Monday and stabilizes above $23,000 mark.
  • The pair made intraday high at $23,477 and low at $23,123 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $23,600 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $22,800 on H1 chart requires for the downside rally.
$22,800 $23,600
$22,410 $24,050
$22,000 $24,550
$21,750 $25,000
$21,400 $25,800


Take a look and do trade wisely!
Good Luck