English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishA Daily Outlook: BTC/USD; Feb 24, 2022
Top 5 Headlines on Digital Currency:
- Mexico Senator Indira Kempis is developing a bill on cryptocurrencies and intends to convince the Mexican government to follow the “Salvadorian scenario” by recognizing BTC as a means of payment – Investing.
- Ethereum creator Vitalik posted a tweet supporting Ukraine and the world’s democracy – Investing.
- Blockchain company Bitfury announced the launch of a new crypto-mining data center in Ontario, Canada. The new crypto mining center adds to the list of existing Canadian sites currently operating in Drumheller, Alberta and Medicine Hat – Investing.
- California joins the list of states in the U.S. that are looking to use bitcoin for tax payment. Senator Kamlager of California introduced a bill that would bring changes to the state’s code to allow for the acceptance of cryptocurrencies – Investing.
- U.S. President Joe Biden is expected to issue an executive order on cryptocurrencies this week. This executive order will push a number of government agencies to study cryptocurrency and CBDC with the aim of coming up with a government-wide strategy on how to regulate cryptocurrencies – Investing.
Technical View:
- The BTC spikes down on Thursday and hits lowest level since Jan 24, 2022.
- The pair made intraday high at $37,444 and low at $34,324 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $36,200 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $34,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $34,000 | $36,200 |
| $33,680 | $36,550 |
| $33,150 | $37,100 |
| $32,500 | $38,350 |
| $48,700 | $54,750 |
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