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SpanishA Daily Outlook: BTC/USD; Aug 03, 2022
Top Headlines on Digital Currency:
- Bitcoin miners are expected to make a comeback, which can be as soon as in August or by September latest. This was suggested by mining firm Blockware in its latest Intelligence Newsletter.
- Ethereum (ETH) made history by surpassing Bitcoin (BTC) in the options market recently. This added on to the speculation of the altcoin taking over the flagship cryptocurrency’s position in near future.
- Inflows into crypto investment products continued to soar for the fifth consecutive week.
- TRON Protocol (TRX) has become the second largest public chain by stablecoin market capitalization.
- Hundred more native tokens on the Cardano (ADA) network will be supported by Ledger from now on. Ledger is a French cryptocurrency hardware wallet manufacturer which was founded in 2014.
- Binance has lost about 90% of users after implementing KYC (know your customer) procedures.
- The U.K’s financial watchdog is planning to introduce tighter crypto marketing checks.
Source: ambcrypto
Technical View:
- The BTC trades flat on Wednesday and stabilizes around $23,000 mark.
- The pair made intraday high at $23,075 and low at $22,686 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.
| SUPPORTS | RESISTANCES |
| $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
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