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SpanishA Daily Outlook: BTC/USD; July 26, 2022
Top Headlines on Digital Currency:
- Bitcoin whales maintained their holding spree despite the volatile market.
- The flagship cryptocurrency has been dealing with heavy liquidations and outflows in the past few days. This was mainly spearheaded by the HODLing behavior of Bitcoin dominant buyers.
- Ethereum’s outperformance continued as it led the top coins in terms of gains.
- The Cardano network has successfully worked without issues for almost 5 years.
- Crypto exchange platform FTX has proposed a joint withdrawal plan to the bankrupt Voyager Digital.
- Uniswap has become the leading DeFi decentralized exchange (DEX).
- A million-dollar hack victimized music streaming protocol Audius, known for being the Spotify competitor, on Saturday. The hacker managed the same by using a malicious governance vote.
- Yuga Labs has been hit with a class action over ApeCoin (APE).
Technical View:
- The BTC continues to trade lower on Tuesday and hovers around $21,000 mark.
- The pair made intraday high at $21,344 and low at $20,837 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $21,700 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $20,800 on H1 chart requires for the downside rally.
|
Supports
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Resistances
|
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$20,800
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$21,700
|
|
$20,350
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$22,200
|
|
$20,000
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$22,500
|
|
$19,750
|
$22,900
|
|
$19,200
|
$23,400
|
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