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SpanishA 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.
| SUPPORTS | RESISTANCES |
| $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
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