A 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.
$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