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SpanishA Daily Outlook: BTC/USD; July 08, 2022
Top Headlines on Digital Currency:
- Bitcoin miners have surpassed Ethereum in terms of June net revenues.
- One of Japan’s leading cryptocurrency exchanges has announced making Dogecoin available on its platform. The news was revealed by FTX Japan through its official website.
- Crypto exchange Bitstamp is now charging inactive customers a fee to make up for costs. This came as a repercussion to a steep decline in cryptocurrency trading volumes.
- CoinLoan has cut down on its $5,000 daily withdrawal cap by 99%. The firm stated a hike in money withdrawals as the main reason behind this decision.
- Turks have been turning to cryptocurrencies, using it as an inflation hedge. This happened as the country’s inflation rate hit its highest level in 24 years. Turkey’s annual inflation rate has reached 78.62%, a 24-year high.
Source: ambcrypto
Technical View:
- The BTC appreciates on Friday and hovers around $22,000 mark.
- The pair made intraday high at $22,401 and low at $21,572 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $22,200 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $21,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $21,500 | $22,400 |
| $21,000 | $22,750 |
| $19,700 | $23,200 |
| $19,550 | $23,680 |
| $19,000 | $24,050 |
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