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SpanishA 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.
| SUPPORTS | RESISTANCES |
| $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
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