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August 16, 2022

A Daily Outlook: BTC/USD; Aug 16, 2022

Top Headlines on Digital Currency:

Shiba Inu’s market capitalization hit $10 billion briefly.
Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool as hackers breached the network and issued 1.2 billion aUSD tokens. The company revealed that the hack was allegedly caused by a bug in the iBTC/AUSD pool.
The Polygon team reported that apps on the network surged by 400%.
Monero executed a hard fork to improve security and privacy features.
According to Wall Street Journal, despite losses from the bear market, pension funds across North America remain bullish on crypto. The conditions of the market have however, made managers consider whether to double down on their crypto investments or walk away.
Aave confirmed that TRM labs’ ban list included dusted ethereum wallets.
LongHash ventures, an Asian investment firm and accelerator that is popularly known to be focused on Web3 development, recently launched a $100 million investment fund.

Source: ambcrypto

Technical View:

The BTC continue to trade lower on Tuesday and hovers around $24,000 mark.
The pair made intraday high at $24,250 and low at $23,813 mark.
Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being.
A sustained close above $24,400 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $23,800 on H1 chart requires for the downside rally.

Supports	Resistances
$23,800	$24,400
$23,500	$24,950
$23,050	$25,500
$22,800	$25,750
$22,400	$26,200

Take a look and do trade wisely!
Good Luck

TP Global FX Research Team

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