A Daily Outlook: BTC/USD; Aug 02, 2022

Top Headlines on Digital Currency:

  • Cardano’s highly-awaited Vasil hard fork has been delayed again for several weeks. The news was revealed by the Technical Manager of Input Output Global (IOG) Kevin Hammon in a monthly update for July.
  • As per Ethereum’s on-chain data, exchange inflows have declined to low values, which is a sign that usually indicates bullishness for a cryptocurrency’s price.
  • There was a rapid increase in the number of Shiba Inu tokens being burned in 24 hours yesterday. As per the data provided by Shibburn blockchain tracking service, about 130% more tokens were blazed than usual during this period.
  • Polygon Network has shown a steady growth during the crypto winter. According to its Q2 report, the total number of unique addresses on the network has gone up by 12% from Q1.
  • The Aave DAO has voted to approve the creation of GHO stablecoin.
  • Ripple seemed to be persistent with increasing the number of XRP tokens in circulation. This came on the back of a surge in demand for its On-Demand Liquidity (ODL) service.
  • The Brazilian subsidiary of the Spanish banking giant is doing the groundwork to roll out crypto trading services in the country. While details of the services were not revealed, its CEO Mario Leão hinted that it would be revealed during the publication of the bank’s next quarterly results.

Source: ambcrypto

Technical View:

  • The BTC continues to trade lower and remains well supported below $23,000 mark.
  • The pair made intraday high at $23,451 and low at $22,724 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $23,500 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $22,500 on H1 chart requires for the downside rally.
$22,500 $23,500
$22,210 $24,050
$22,000 $24,550
$21,750 $25,000
$21,400 $25,800


Take a look and do trade wisely!
Good Luck