A Daily Outlook: BTC/USD; Aug 29, 2022

Top Headlines on Digital Currency:

  • Bitcoin Depot, operator of cryptocurrency ATMs, decided to list itself on the Nasdaq index.
  • IOG revealed that Cardano has made “made good progress” on the Vasil upgrade.
  • As per data from Dune Analytics, Synthetix was supposedly one of the best-performing decentralized exchanges of July. The DEX recorded a trading volume of 2.49 billion. This was a 26% decrease from the previous month’s trading volume of $3.4 billion.
  • Mastercard’s CEO Michael Miebach said that the firm is teaming up with Binance.
  • The Securities and Exchange Commission (SEC) delayed their decision on a bitcoin exchange-traded fund application.
  • According to the latest data by CryptoSlam, Ethereum [ETH]-based NFT collection, Azuki was the subject of a 311% increase in sales volume over the last 24 hours. About $703,760 exchanged hands between buyers and sellers within the aforementioned period.
  • Japan’s Financial Services Agency has considered amending the crypto taxation system.

Technical View:

  • The BTC remains slightly positive on Monday and stabilizes above $19,500 mark.
  • The pair made intraday high at $19,942 and low at $19,557 mark.
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $20,400 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $19,500 on H1 chart requires for the downside rally.
Supports
Resistances
$19,500
$20,400
$19,100
$20,920
$18,500
$21,300
$18,100
$21,780
$17,650
$22,200

Take a look and do trade wisely!
Good Luck