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July 5, 2022

A Daily Outlook: BTC/USD; July 05, 2022

Top Headlines on Digital Currency:

Bitcoin whales were heavily buying the dip at $19k, using the small window of opportunity to pile up their bags. Recently, the flagship cryptocurrency has been on a freefall, losing over 70% of its entire gains.
Cardano’s Vasil hard fork has been launched on its testnet.
Crema Finance has become the latest one to join the growing list of protocols being hacked. It is a concentrated liquidity market maker (CLMM) algorithm built on top of Solana blockchain.
The South Korean tech behemoth has started producing 3nm chips which can be used for Bitcoin mining hardware. These 3-nanometer (nm) process nodes are being made by applying Gate-All-Around (GAA) transistor architecture.
Colombia has taken the lead to launch its national land registry on XRP Ledger for over 50 million citizens. The news was broken by crypto software development firm Peersyst Technology, which heralded the country as the first to launch its land registry on top of XRPL.

Source: ambcrypto

Technical View:

The BTC recovers sharply from previous losses and jumps back above $20,000 mark.
The pair made intraday high at $20,440 and low at $20,133 mark.
Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
A sustained close above $20,550 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $19,800 on H1 chart requires for the downside rally.

SUPPORTS	RESISTANCES
$19,800	$20,550
$19,100	$20,980
$18,500	$21,300
$18,000	$21,800
$17,620	$22,400

Take a look and do trade wisely!
Good Luck

TP Global FX Research Team

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