A Daily Outlook: BTC/USD; Feb 21, 2022

Top 5 Headlines on Digital Currency:

  • “Trade,” launching today in version 3.1 of Telcoin’s official iOS and Android apps, aims to become the easiest and most affordable way for users to trade cryptocurrencies across decentralized finance (DeFi) protocols. Users across the globe can now trade TEL and 10 additional tokens with just a few taps of their smartphone – Investing.
  • Grayscale Investments’ latest report “Reimagining the Future of Finance” defines the digital economy as “the intersection of technology and finance that’s increasingly defined by digital spaces, experiences, and transactions – Investing.
  • JPMorgan Chase issued its own bullish outlook when it labeled the Metaverse a $1 trillion a year opportunity. In addition to JPMorgan, the New York Stock Exchange (NYSE) this week sent out a strong signal that nonfungible tokens (NFTs) and the Metaverse are part of its long-term plans – Investing.
  • The parliament of Ukraine has passed a bill legalizing cryptocurrencies, said Mykhailo Fedorov, Ukrainian minister of digital transformation. He disclosed that crypto exchanges will now operate legally, and crypto assets will be protected by the new law – Investing.
  • Billionaire investor Warren Buffett became infamous for calling Bitcoin a “rat poison“ in the crypto community. However, contrary to his prior remarks, a company owned by the legendary investor has made investment into Bitcoin – Investing.

Technical View:

  • The BTC starts a new week on a positive note and trading around $ 39,000 mark.
  • The pair made intraday high at $39,494 and low at $38,208 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $40,500 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $38,200 on H1 chart requires for the downside rally.
$38,200 $40,500
$37,650 $40,900
$37,050 $41,300
$36,800 $41,500
$36,200 $41,800

Take a look and do trade wisely!
Good Luck