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February 22, 2022

A Daily Outlook: BTC/USD; Feb 22, 2022

Top 5 Headlines on Digital Currency:

Canada’s move to freeze Bitcoin (BTC) wallets and bank accounts related to the COVID-19 vaccine protests is driving cryptocurrency adoption, with some crypto naysayers reconsidering their stance on Bitcoin – Investing.
Georgia punches well above its weight for Bitcoin mining – Investing.
El Salvador to Propose Citizenship to Investors, Crypto Included – Investing.
Kazakhstan, one of the world’s top Bitcoin (BTC) mining locations, is likely to lose its BTC hash rate share leadership in the next hash rate distribution update, according to industry experts – Investing.
U.S. banks partner with crypto custodians – Investing.

Technical View:

The BTC depreciates sharply against U.S. dollar and remains well supported below $40,000 mark.
The pair made intraday high at $37,462 and low at $36,368 mark.
Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
A sustained close above $38,200 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $36,100 on H1 chart requires for the downside rally.

SUPPORTS	RESISTANCES
$36,100	$37,500
$35,500	$38,200
$35,050	$38,710
$34,680	$39,100
$34,010	$39,550

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

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