A 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.
$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