A Daily Outlook: BTC/USD; July 06, 2022

Top Headlines on Digital Currency:

  • A significant development in the cryptocurrency market was the integration of Decentralised Exchanges (DEX) with the Coinbase app. This development was expected to provide exchanges with exposure to the users of the second biggest cryptocurrency exchange in the world.
  • The Polygon [MATIC] network and its native have been moving towards the green than staying around the red lately. Additionally, trader optimism has been high due to celebrations around 4 July. MATIC, has thus, witnessed a rampant price surge alongside a recovering crypto market.
  • The TRON Blockchain [TRX] has made tremendous progress since its launch. Housing over 100,000,000 accounts, the network has witnessed a transaction count of 3,481,985,024. According to data from blockchain analytics platform, Coin98, the TRON Blockchain ranked second on the list of top 10 blockchains.
  • Indian crypto traders/investors face a hefty fee structure on their crypto acquisitions. Keeping in mind the 30% income tax regime, cryptocurrency exchanges at the moment have come under added pressure from the additional 1% tax that went into effect on 1 July.
  • Ethereum has continued to enjoy a fair share of dominance among the altcoins. That goes for miners as well. Ether miners in 2021 earned over $3 billion more than their Bitcoin counterparts. However, the positive narrative around ETH miners took a major blow this year.

Source: ambcrypto

Technical View:

  • The BTC trades flat on Wednesday and hovers around $20,000 mark.
  • The pair made intraday high at $20,367 and low at $19,750 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.
$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