A 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.
$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