A 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.
$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