A Daily Outlook: BTC/USD; Feb 28, 2022

Top 5 Headlines on Digital Currency:

  • The crypto community is rallying together like never before to show support to Ukraine in the way of digital asset donations – Investing.
  • On-chain statistics through February have suggested positive sentiment for Bitcoin as addresses with a non-zero balance of BTC reached an all-time high – Investing.
  • Within the first week of the Russia-Ukraine war, the Ukrainian government has reached out to the crypto community on Twitter for raising funds to support its civilians and troops. Ukraine has now started accepting Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) as donations – Investing.
  • Senator Ted Cruz during his Conservative Political Action Conference (CPAC) speech on Friday advocated for Bitcoin (BTC) again while lauding its decentralization. Cruz said he is very bullish on Bitcoin because it is highly decentralized and cannot be controlled by any government or entity – Investing.
  • Blockchain-based global education content incubation protocol Label Foundation (LBL) has been listed on South Korean exchange Coinone – Investing.

Technical View:

  • The BTC moves in rigid boundaries and consolidates around $38,000 mark.
  • The pair made intraday high at $38,688 and low at $37,468 mark.
  • Today a day chart and H1 chart with triple EMA suggest down 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.

Take a look and do trade wisely!
Good Luck