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SpanishA Daily Outlook: BTC/USD; Feb 08, 2022
Top 5 Headlines on Digital Currency:
- A group of major cryptocurrency firms including Coinbase, Circle, Anchorage Digital and Huobi Global are forming a new coalition aimed at cracking down on market manipulation in an effort to instill trust in the burgeoning digital asset industry – Investing.
- The Bitcoin Miners ETF by Valkyrie has received the green light to trade on Nasdaq. It will carry the ticker WGMI – Investing.
- Big Four auditor KPMG’s Canadian operation has officially added Bitcoin (BTC) and Ether (ETH) to its corporate treasury, joining other major companies in converting a portion of its fiat holdings into digital assets – Investing.
- El Salvador’s Bitcoin wallet, Chivo, is taking steps to improve security and eliminate transaction issues that had initially angered users and caused gripes to pile up against the application – Investing.
- The Venezuelan government has approved a new tax bill aiming to collect up to 20% in taxes from cryptocurrency transactions, according to local reports – Investing.
Technical View:
- The BTC continues to trade higher on Tuesday and remains well supported above $44,000 mark.
- The pair made intraday high at $45,501 and low at $43,600 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $45,800 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $44,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $44,000 | $45,800 |
| $43,310 | $46,200 |
| $43,000 | $46,750 |
| $42,550 | $47,100 |
| $42,100 | $47,800 |
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