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SpanishA Daily Outlook: BTC/USD; Jan 31, 2022
Top 5 Headlines on Digital Currency:
- The growth of the Bitcoin network has become apparent, as hash rate figures for BTC continue to set new highs this month – Investing.
- The Internet Computer has released a roadmap for 2022 and beyond, indicating plans to roll out integrations with Bitcoin and Ethereum by the end of the year – Investing.
- Meta, the world’s biggest social media platform, has filed a trademark registration with the Brazilian authorities to design, develop and provision hardware and software for various Bitcoin (BTC) and crypto-related services – Investing.
- Bitcoin (BTC) craze among lawmakers has reached the Belgian parliament now, as Brussels member of parliament Christophe De Beukelaer became the first European politician to convert his salary to Bitcoin – Investing.
- Bitcoin ‘gives back gains’ after Fed comments ‘add downside risks’ to crypto markets – Investing.
Technical View:
- The BTC starts a new week on a lower note and remains well supported below $37,500 mark.
- The pair made intraday high at $37,970 and low at $36,631 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $38,200 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $36,500 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $36,800 | $38,200 |
| $36,630 | $38,740 |
| $36,280 | $39,100 |
| $35,800 | $39,550 |
| $35,500 | $39,780 |
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