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SpanishA Daily Outlook: BTC/USD; Jan 27, 2022
Top 5 Headlines on Digital Currency:
- Members of the executive board at the International Monetary Fund are urging lawmakers in El Salvador to no longer recognize Bitcoin as legal tender – Investing.
- The U.S. Securities and Exchange Commission has extended its window to approve the ARK 21Shares Bitcoin exchange-traded fund (ETF) originally proposed in July 2021 – Investing.
- ChainBytes, LLC, a Bitcoin ATM manufacturer and blockchain developer announced a collaboration with Museo del Caos to exhibit Mexican and Latin American musicians, artists, and startup galleries within the NFT and Metaverse spheres – Investing.
- BTC is one of the cryptocurrencies that was affected by the recent market downtrend as it attained a 90-day low price of $33,184.06. However, the Cup and Handle Chart pattern shows that it will experience a bullish run that would made it trade around $38,838.75 soon – Investing.
- The world’s largest cryptocurrency by market value advanced close to $38,000 at 2 p.m. in Hong Kong, its highest level since Jan 21, when a selloff in virtual coins and other risky assets accelerated sharply – Investing.
Technical View:
- The BTC trades marginally lower and stabilizes below $36,500 mark.
- The pair made intraday high at $37,114 and low at $35,535 mark.
- Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $38,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $33,100 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $35,720 | $38,500 |
| $35,550 | $38,740 |
| $35,100 | $39,200 |
| $34,400 | $39,550 |
| $34,000 | $39,900 |
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