A Daily Outlook: BTC/USD; Aug 17, 2022

Top Headlines on Digital Currency:

  • According to a report by CoinShares, Bitcoin outflows were valued at $21 million, bringing month-to-date outflows to $29 million. At the same time, minor inflows were noted in Bitcoin’s short-call positions.
  • The Solana foundation reported various key metrics such as its total validator count, Nakamoto consensus, and distribution in its latest report. Solana currently estimates more than 3400 validators across six continents for independently verifying new transactions, and storing the state of the network’s ledger.
  • Investors moved $1.6 billion to USDT from USDC over the preceding month after U.S regulators raised regulatory compliances for cryptocurrency companies.
  • Fintech company Revolut received regulatory approval from the Cyprus Securities and Exchange Commission to provide crypto services to millions of users.
  • Crypto.com made the announcement that it has signed a pre-registration undertaking with the Ontario Securities Commission (OSC).

Source: ambcrypto

Technical View:

  • The spikes down sharply in European session and slips back below $24,000 mark.
  • The pair made intraday high at $24,448 and low at $23,745 mark.
  • Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $24,420 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $23,500 on H1 chart requires for the downside rally.
$23,500 $24,420
$23,220 $24,950
$23,050 $25,500
$22,800 $25,750
$22,400 $26,200

Take a look and do trade wisely!
Good Luck