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SpanishA Daily Outlook: BTC/USD; Jan 28, 2022
Top 5 Headlines on Digital Currency:
- The president of Turkey, Recep Tayyip Erdoğan, is turning into cryptocurrencies, as the national lira has been experiencing a downfall for the last few years. Turkey’s high inflation is disrupting the country, and cryptocurrency analysts believe that Bitcoin could help solve the country’s prolonged issues with inflation – Investing.
- Bitcoin (BTC) price continues to flash mixed signals, raising uncertainty among investors and negatively impacting asset prices across the market – Investing.
- $1M Grant Given to DeFi Launchpad for Harmony Integration – Investing.
- Crypto Money Laundering Grew By 30% in 2021, DeFi Involvement Rises – Investing.
- Raising claims of its potential financial stability risks, Russia’s central bank proposed a blanket ban on the use, trading, and mining of all cryptocurrencies within its borders. However, with recent reports, the ban looks less likely. In a January 26 video conference, the Russian President, Vladimir Putin, declared his stance, and it isn’t totally in line with the recent call from the Central Bank of Russia – Investing.
Technical View:
- The BTC trades in stiff boundaries and remains well supported below $37,000 mark.
- The pair made intraday high at $37,534 and low at $36,574 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $37,594 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $35,500 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $36,000 | $37,600 |
| $35,550 | $38,120 |
| $35,100 | $38,740 |
| $34,400 | $39,200 |
| $34,000 | $39,550 |
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