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SpanishA Daily Outlook: BTC/USD; Feb 01, 2022
Top 5 Headlines on Digital Currency:
- Banking giant Fidelity eyes Bitcoin technology – Investing.
- Bitcoin (BTC) stock-to-flow (S2F) in January 2022 hits below 62%, according to PlanB data – Investing.
- The bill to make Bitcoin (BTC) legal tender in the state of Arizona was presented to the state legislature by Senator Wendy Rogers (NYSE:ROG), who has been promoting the adoption of cryptocurrency for some time – Investing.
- In a new report published by CoinShares on Monday, the firm estimated that the Bitcoin (BTC) mining network emitted 42 megatons, or Mt, (1Mt = 1 million tons) of carbon dioxide, or CO2, in 2021 – Investing.
- Canadian online brokerage Wealthsimple wants to chart a future enabling the real-world use of cryptocurrencies rather than simply facilitating trading, but is likely to face unexpected costs and uncertain regulatory terrain along the way – Investing.
Technical View:
- The BTC spikes down sharply in European hours and hits fresh daily low at $38,214 mark.
- The pair made intraday high at $39,115 and low at $38,214 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $38,650 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $37,735 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $38,100 | $38,650 |
| $37,850 | $39,100 |
| $37,420 | $39,550 |
| $37,000 | $39,780 |
| $36,550 | $40,050 |
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