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July 18, 2022

A Daily Outlook: BTC/USD; July 18, 2022

Top Headlines on Digital Currency:

Bitcoin, the world’s largest cryptocurrency, despite the latest price hike, is finding it difficult to lure miners and prevent the exodus. For many operators, Bitcoin mining was an astonishingly lucrative activity, with gross margins sometimes as high as 90%.
The Terra Classic community plans to address this issue through a 1.2% tax burn. And, a new update reveals healthy progress on this front.
The cryptocurrency market registered a much-needed surge recently, with the market cap up to almost $1 trillion. Ethereum, the world’s largest altcoin, led the charge with a 14% hike following recent developments around the Merge.
JPMorgan Chase analysts revealed that Bitcoin’s production cost has dropped to about $13,000.
The U.S. Securities and Exchange Commission’s (SEC) request to withhold internal documents in the XRP lawsuit has been denied.
Trading application Robinhood announced the listing of Uniswap’s UNI in a Twitter post on Thursday. It now offers users a total of 13 crypto assets.
Ripple released its new report titled ‘Crypto Trends in Business & Beyond’ on last week. It revealed how bullish Latin America, as well as the Asia Pacific region, is on cryptocurrencies.

Source: ambcrypto

Technical View:

The BTC appreciates on Monday and stabilizes above $22,000 mark.
The pair made intraday high at $22,392 and low at $20,757 mark.,
Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
A sustained close above $22,500 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
$21,000	$22,500
$20,800	$22,850
$20,200	$23,200
$19,500	$23,750
$19,000	$24,400

Take a look and do trade wisely!
Good Luck

TP Global FX Research Team

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