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SpanishA Daily Outlook: BTC/USD, Jan 12, 2022
Top 5 Headlines on Digital Currency:
- A small river in the middle of coffee plantations, sugar cane fields and a forest provides energy to a hydroelectric power plant in Costa Rica that feeds hundreds of computers wired up to the cryptocurrency mining business – Investing.
- Investor Bill Miller is bullish on Bitcoin (BTC) despite the cryptocurrency touching multi-month lows below $40,000 in early January 2022 – Investing.
- Bitcoin Magazine’s YouTube channel was restored around three hours after being shut down, with the publication attributing the short ban to the YouTube algorithm flagging the word “Kazakhstan.”- Investing.
- Indian financial services giant Axis Bank issued a financial contract between two domestic businesses by using a government-backed blockchain platform called Secured Logistics Document Exchange (SLDE) – Investing.
- Cryptocurrency investment products and funds had net outflows last week totaling a record $207 million, a report from digital asset manager CoinShares showed on Monday, as prices continued their tumble in the first trading week of the year – Investing.
Technical View:
- The BTC erases previous loss against U.S. dollar and remains well supported above $42,000 mark.
- The pair made intraday high at $42,976 and low at $42,471 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $43,100 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $40,500 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $40,500 | $43,100 |
| $40,120 | $43,800 |
| $39,760 | $44,200 |
| $39,300 | $44,920 |
| $39,000 | $45,500 |
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