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August 5, 2022

A Daily Outlook: BTC/USD; Aug 05, 2022

Top Headlines on Digital Currency:

Bitcoin’s price traded above its 200-weekly moving average (MA) despite a number of hacks in the crypto field.
The most-recent Solana exploit saw nearly $4.5 million worth of crypto being swiped from several thousand total users. The attack is now said to be tied to Solana-based mobile wallet app Slope Finance.
The rising number of ADA wallets could be seen as a part of Cardano’s sustained growth. More than 1 million of these wallets have been added in less than ten months.
Whales are bullish on the meme cryptocurrency as they increased their SHIB stash by roughly $150 million in the last three days. This was revealed by the data shared by WhaleStats crypto tracker.
Market participants have reportedly spent approximately $2.7 billion on NFT minting on Ethereum blockchain in the first half of 2022.
Crypto market crash did not shutter the faith that some people had on cryptocurrencies. Nigeria was the leading country that was most interested in digital assets.

Source: ambcrypto

Technical View:

The BTC rises for the first time in a week and trading above $23,000 mark.
The pair made intraday high at $23,427 and low at $22,587 mark.
Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
A sustained close above $23,500 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $22,000 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

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