A Daily Outlook: BTC/USD; Jan 18, 2022

Top 5 Headlines on Digital Currency:

  • The majority of the population of the Central American country is still wary of cryptocurrency, a recent survey showed – Investing.
  • The global crypto ATM market size is expected to reach USD 1.88 billion by 2028, expanding at a CAGR of 59.2% from 2022 to 2028, according to a new report by Grand View Research, Inc – Investing.
  • Nervos today announced the launch of a new cross-chain bridge with Binance Smart Chain (BSC), growing its multi-chain strategy as the network rapidly expands its booming DeFi ecosystem – Investing.
  • On the first anniversary of the launch of Stacks blockchain (STX), which seeks to make Bitcoin (BTC) programmable, the network achieved over 350 million monthly API requests, 40,000 Hiro (development tool for Stacks to build applications on Bitcoin) wallet downloads, and 2,500 Clarity smart contracts – Investing.
  • Arif Alvi, currently serving as the president of Pakistan, called for additional training in emerging technologies including blockchain, artificial intelligence and cybersecurity while meeting with a delegation of blockchain technology experts – Investing.

Technical View:

  • The BTC falls gradually against U.S. dollar and stabilizes below $42,000 mark.
  • The pair made intraday high at $42,439 and low at $41,600 mark.
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $42,550 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $40,500 on H1 chart requires for the downside rally.
$41,100 $42,550
$40,500 $42,900
$40,080 $43,100
$39,750 $43,600
$39,320 $44,000

Take a look and do trade wisely!
Good Luck