A Daily Outlook: BTC/USD; July 14, 2022

Top Headlines on Digital Currency:

  • Despite high market volatility and bearish sentiments of the broader crypto market, Bitcoin managed to achieve a new milestone. Yesterday, the number of Bitcoin addresses ever to be created surpassed the one billion mark for the first time.
  • As the global crypto sector’s market capitalization dipped to $883 billion, the on-chain activity of Ethereum was much affected. As a result, its monthly active addresses declined to a low that hasn’t been seen since the past two years.
  • The number of smart contracts deployed on Cardano is just on the brink of touching the 3,000 milestone.
  • A liquidity provider on Uniswap was hacked in a phishing attack.
  • Brave, a cryptocurrency-centered internet browser, has added support for Solana based decentralized applications (dApps).
  • Shanghai is leading the way in promoting the growth of the metaverse. According to reports, its government is planning a $1.5 billion fund, dedicated exclusively for the growth of this field.
  • Indonesia is exploring the possibility of integrating cryptocurrencies into its financial system.

Source: ambcrypto

Technical View:

  • The BTC continues to trades in narrow range and consolidates around $20,000 mark.
  • The pair made intraday high at $20,407 and low at $19,895 mark.,
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $20,400 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $19,500 on H1 chart requires for the downside rally.
$19,500 $20,400
$19,000 $20,850
$18,750 $21,200
$18,400 $21,900
$18,100 $22,300


Take a look and do trade wisely!
Good Luck