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July 27, 2022

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

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