A Daily Outlook: BTC/USD; July 25, 2022

Top Headlines on Digital Currency:

  • The Bank of Central African States, or Banque des États de l’Afrique, which serves Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon and the Republic of the Congo, could be closer to releasing a central bank digital currency (CBDC) reportedly at the urging of its board – Investing.
  • Prince Filip Karađorđević, known as Philip Karageorgevitch in English, placated rumors that an Arab country would “soon” adopt Bitcoin (BTC) as legal tender – Investing.
  • Google Pay users will soon be able to buy cryptocurrencies. This has been made possible through the exchange platform Crypto.com’s integration of G-Pay – ambcrypto.
  • The U.S. Securities and Exchange Commission (SEC) has indicted former Coinbase product manager Ishan Wahi for insider trading – ambcrypto.
  • A stablecoin seemed to be on its way for Curve Finance. The news was announced by its CEO and Founder Michael Egorov in a recent online crypto conference – ambcrypto .
  • South Korea has delayed plans for the implementation of crypto tax regime again – ambcrypto.

Technical View:

  • The BTC starts a new week on a lower note and remains well supported below $22,000 mark.
  • The pair made intraday high at $22,673 and low at $21,745 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $22,800 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $21,500 on H1 chart requires for the downside rally.

Take a look and do trade wisely!
Good Luck