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SpanishA 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