A Daily Outlook: BTC/USD; Aug 09, 2022

Top Headlines on Digital Currency:

  • As Ethereum’s Merge gets closer to launch, several proof-of-work (PoW) purists have proposed developing a fork.
  • Futures volumes continue to climb despite the pullback in crypto prices.
  • Whale addresses are back to accumulating Cardano’s ADA as per the data provided by Santiment. This happened after Cardano’s most recent milestone of achieving a new high in network activity.
  • Binance CEO denies the acquisition of WazirX.
  • LIBDOGECOIN was launched a few weeks after the release of Dogecoin Core version 1.14.6. It was announced by core developer Michi Lumin in Dogecoin Foundation’s official blog post.
  • Polkadot’s latest rally has helped it to overtake Dogecoin in trading volume.

Source: ambcrypto

Technical View:

  • The BTC remains almost unchanged on Tuesday and stabilizes around $24,000 mark.
  • The pair made intraday high at $23,927 and low at $23,636 mark.
  • Today a day chart and H1 chart with triple EMA suggest up trend for the time being.
  • A sustained close above $24,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $23,000 on H1 chart requires for the downside rally.
$23,200 $24,200
$23,000 $24,550
$22,550 $24,890
$22,210 $25,400
$22,000 $25,900


Take a look and do trade wisely!
Good Luck