A Daily Outlook: BTC/USD; Aug 15, 2022

Top Headlines on Digital Currency:

  • The successful execution of the final testnet Goerli has set things in place for Ethereum’s highly-anticipated Merge. The event, which is just weeks away, is now expected to happen sooner than planned. Ethereum’s core developers have announced a tentative Merge date of September 15.
  • The Cardano network is currently processing around 80,000 transactions daily. However, this was lower than the transaction count noted at the start of this month, which was around 90,000 daily.
  • The crypto market witnessed inflows worth $250 billion over the past one month.
  • dYdX confirmed that it blocked user accounts associated with Tornado Cash to adhere to the Treasury Department’s sanctions.
  • The United States Securities and Exchange Commission (SEC) has sent investigative subpoenas and requests to Coinbase.
  • Binance’s venture capital arm has put money into Ankr protocol. It is a DeFi solution that powers staking compatibility with several blockchain networks, also known as cross-chain staking.
  • The European Union is currently working on a new bill passed by authorities in the form of Market in Crypto Assets(MiCA). The bill, when it becomes law, would make numerous changes to the space, including strict requirements aimed at preventing collapses like Terra (LUNA)’s, as well as treating non-fungible tokens (NFTs) like crypto.

Source: ambcrypto

Technical View:

  • The BTC jumps back above $25,000 mark and hits highest level since June 13, 2022 mark.
  • The pair made intraday high at $25,212 and low at $24,182 mark.
  • Today a day chart and H1 chart with triple EMA suggest up trend for the time being.
  • A sustained close above $25,050 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $24,100 on H1 chart requires for the downside rally.

Take a look and do trade wisely!
Good Luck