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SpanishA 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
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills