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August 22, 2022

A Daily Outlook: BTC/USD; Aug 22, 2022

Top Headlines on Digital Currency:

The hackers behind the $625 million Ronin bridge attack in March have since transferred most of their funds from ETH into BTC using renBTC and Bitcoin privacy tools Blender and ChipMixer – Investing.
Bitcoin ATM manufacturer General Bytes had its servers compromised via a zero-day attack on Aug. 18, which enabled the hackers to make themselves the default admins and modify settings so that all funds would be transferred to their wallet address – Investing.
An announcement from USDT issuer Tether Holdings Limited revealed information from an independent attestation about the company’s previous quarter’s performance. The reviewer, top accounting firm BDO Italia, assessed Tether’s assets as of June 30, 2022 – Investing.
The Ethereum blockchain is all set to make its highly anticipated transition from its current proof-of-work (PoW) mining consensus to proof-of-stake (PoS) – Investing.

Technical View:

The BTC trades marginally lower on Monday and stabilizes below $21,500 mark.
The pair made intraday high at $21,520 and low at $21,174 mark.
Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
A sustained close above $21,800 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $20,500 on H1 chart requires for the downside rally.

SUPPORTS	RESISTANCES
$20,500	$21,800
$20,000	$22,200
$19,750	$22,500
19,500	$22,900
$19,100	$23,200

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

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