English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishA Daily Outlook: BTC/USD; Aug 05, 2021
Top 5 Headlines on Digital Currency:
- A private Bitcoin (CRYPTO: BTC) fund is now reportedly in the works at JPMorgan Chase & Co even though its CEO Jamie Dimon has been less than enthusiastic about the apex cryptocurrency in the past – Investing.
- Hedge fund manager Ray Dalio says he’s still bullish on Bitcoin – Investing.
- Grayscale Investments plans to convert its largest fund – the Grayscale Bitcoin Trust to a Bitcoin exchange-traded fund, despite the unfavorable odds prevailing in the market – Investing.
- The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined how the SEC plans to regulate the crypto industry – Investing.
- Nigeria Has Become a Major Bitcoin Haven – Investing.
Technical View:
- The bitcoin trades marginally lower and stabilizes below $39,000 mark..
- The pair made intraday high at $39,857 and low at $38,705 mark.
- Today a day chart and H1 chart with triple EMA confirms bullish trend in short run.
- A sustained close above $39,850 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $38,200 will check further supports.
| SUPPORTS | RESISTANCES |
| $38,200 | $40,100 |
| $37,955 | $40,596 |
| $37,610 | $40,799 |
| $37,450 | $40,996 |
| $37,080 | $41,230 |
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