A Daily Outlook: BTC/USD; July 27, 2022

Top Headlines on Digital Currency:
- Bitcoin sharks have been observed accumulating the coin despite its price dip.
- Shiba Inu has become a favorite amongst Ethereum whales. Despite the crypto market downturn, SHIB continued to be one of the largest holdings amongst Ethereum whales.
- The temperature has been rising for Celsius Network recently. Following the issues related to its bankruptcy, the crypto lending firm has now been charged with a class action lawsuit.
- Moonbeam has made the transfer of tokens between Polkadot and Cosmos ecosystems simpler. The cross-chain token swap was made possible through its partnership with Osmosis.
- The CEO of the world’s largest crypto exchange Changpeng Zhao seemed to be much concerned about his public image. He has charged Bloomberg’s Chinese subsidiary with a defamation case.
- The news of Tesla offloading 75% of its BTC reserves was followed by the one where the company recorded a $170 million impairment charge for the same. This was noted on its balance sheet during the first half of 2022.
- Cryptocurrencies were heralded as a ‘good alternative’ to the existing settlement processes. This was observed in a new study conducted by the International Association of Money Transfer Networks (IAMTN).
Technical View:
- The BTC trades flat on Wednesday and stabilizes below $22,000 mark.
- The pair made intraday high at $21,452 and low at $21,047 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 $21,000 on H1 chart requires for the downside rally.
Supports
|
Resistances
|
$20,800
|
$21,700
|
$20,350
|
$22,200
|
$20,000
|
$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