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SpanishA Daily Outlook: BTC/USD; July 01, 2022
Top 5 Headlines on Digital Currency:
- MicroStrategy has grabbed the opportunity to buy another bulk of the flagship cryptocurrency at sale. This happened between May 3 and June 28 when the cryptocurrency market was experiencing a massive sell-off.
- MicroStrategy has purchased an additional 480 Bitcoin.
- On June 29, the SEC denied Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin exchange-traded fund (ETF).
- The eighth-largest blockchain has unveiled a new on-chain governance model. dubbed “Gov 2”, the model will replace current council-led governance with a ‘referendum’.
- The cryptocurrency exchange firm has added Solana as the seventh token in its list of coins that can be staked on the platform. For a user to start staking SOL, the minimum starting balance should be $1.
- The fees on Ethereum’s Layer 2 scaling solution rose more than the mainnet itself. This continued for over five hours on Wednesday.
- Taiwan’s central bank is working on developing a central bank digital currency (CBDC) but does not have a clear timeline for its public release.
Source: ambcrypto
Technical View:
- The BTC is enjoying a bumpy rise and currently trading below $20,000 mark.
- The pair made intraday high at $20,895 and low at $19,287 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $20,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $19,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $18,500 | $20,500 |
| $18,050 | $20,710 |
| $17,680 | $20,980 |
| $17,200 | $21,300 |
| $17,000 | $21,800 |
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