A Daily Outlook: BTC/USD; July 11, 2022

Top Headlines on Digital Currency:

  • The Ethereum (ETH) network moved one step closer to completing its transition to proof-of-stake (PoS) this week after the successful completion of its second-to-last major Merge trial on the Sepolia public test network.
  • With China moving out of the picture following a permaban on crypto, the United States maintains the top position in terms of hash rate contribution and ATM installations worldwide.
  • Reddit to Introduce Collectible Avatars Backed by Blockchain.
  • Global GPU price drops to compensate for falling Bitcoin mining revenue.
  • RoboApe Finance As a deflationary cryptocurrency, RoboApe will provide an array of opportunities through which people can interact, generate, and manage finance in decentralized finance.
  • Many well-known blue-chip companies seem to agree with this as they themselves hold BTC on their balance sheets despite the volatility. Some of these companies include MicroStrategy, Tesla, and Block Inc.

Source: Investing

Technical View:

  • The BTC trades flat on Monday and stabilizes above $20,000 mark.
  • The pair made intraday high at $20,858 and low at $20,343 mark.
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $21,050 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $20,000 on H1 chart requires for the downside rally.
$20,000 $21,050
$19,500 $21,550
$19,100 $21,900
$18,750 $22,300
$18,100 $22,800


Take a look and do trade wisely!
Good Luck