A 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

    Take a look and do trade wisely!
    Good Luck