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SpanishA Daily Outlook: BTC/USD; Aug 10, 2022
Top Headlines on Digital Currency:
- As Ethereum’s Merge slowly draws closer to its launch, ETH 2.0 deposit contracts crossed the 13 million mark yesterday. This was revealed through the data provided by Glassnode.
- The U.S. Treasury Department has placed sanctions on the popular coin mixing service Tornado Cash.
- The MicroStrategy stock has outperformed most of the asset classes since the company adopted its Bitcoin (BTC) strategy in 2020.
- Singapore-based crypto lender Hodlnaut has halted withdrawals amid supposed liquidity constraints.
- The number of cryptocurrency ATMs installed globally is approaching the 40,000 mark.
- The Bank of Thailand (BOT) is currently studying if retail CBDC models are suitable for the country. It has decided to launch a retail CBDC pilot by the end of this year.
Source: ambcrypto
Technical View:
- The BTC falls sharply on Wednesday and slips back below $23,000 mark.
- The pair made intraday high at $23,151 and low at $22,668 mark.
- Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $23,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $22,500 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $22,500 | $23,500 |
| $22,050 | $23,950 |
| $21,700 | $24,200 |
| $21,500 | $24,750 |
| $21,100 | $25,100 |
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