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February 23, 2022

A Daily Outlook: BTC/USD; Feb 23, 2022

Top 5 Headlines on Digital Currency:

Amid a market wide downturn across major crypto assets over the past week, institutional traders tipped almost $89 million into Bitcoin (BTC) funds – Investing.
Thailand’s Central Bank announced their intentions to trial a central bank digital currency in the second quarter of 2022 – Investing.
A press officer for the European Commission says that presenting crypto assets to the consulate may be accepted as long as it is justified – Investing.
El Salvador’s adoption of Bitcoin (BTC) as legal tender in September 2021 has triggered a notable surge not only for its gross domestic product (GDP) but also for the local tourism development – Investing.
Japan Exchange Group (JPX), the Tokyo Stock Exchange and Osaka Exchange owner, warned the public against companies that are misleading Japanese investors by selling crypto assets under the JPX brand – Investing.

Technical View:

The BTC recovers noticeably and stabilizes above $38,000 mark.
The pair made intraday high at $39,021 and low at $37,552 mark.
Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
A sustained close above $40,550 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $37,000 on H1 chart requires for the downside rally.

SUPPORTS	RESISTANCES
$37,550	$39,100
$37,000	$39,550
$36,800	$39,900
$36,200	$40,100
$35,750	$40,550

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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