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.
$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