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February 17, 2022

A Daily Outlook: BTC/USD; Feb 17, 2022

Top 5 Headlines on Digital Currency:

A bipartisan group of senators introduced legislation in the U.S. Senate which seeks to mitigate perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency – Investing.
Crypto market analysis company Arcane Research had recently published a report on the performance of Bitcoin. Their research highlighted that the coin experienced low volatility of over 70%, bolstering that this is the first time options traders have gone on a long-term bearish direction since last year May – Investing.
International oil and gas giant ConocoPhilips is dipping its toes into Bitcoin (BTC) mining as a way to eliminate the wasteful practice of flaring – Investing.
Banning cryptocurrencies like Bitcoin (BTC) is impossible, Russia’s finance minister Anton Siluanov declared as the Bank of Russia keeps calling on the state to ban crypto in the country – Investing.
Warren Buffett’s Berkshire Hathaway dumped a portion of its Visa (NYSE:V) and Mastercard (NYSE:MA) holdings and increased exposure in Nubank, the largest fintech bank in Brazil that’s also popular among the country’s Bitcoin investor – Investing.

Technical View:

The BTC trades flat on Thursday and consolidates around $44,000 mark.
The pair made intraday high at $44,204 and low at $43,373 mark.
Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
A sustained close above $44,590 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $42,500 on H1 chart requires for the downside rally.

SUPPORTS	RESISTANCES
$42,500	$44,590
$41,800	$45,100
$41,550	$45,550
$41,100	$46,820
$40,500	$47,400

Take a look and do trade wisely!
Good Luck

TP Global FX Research Team

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