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.

Take a look and do trade wisely!
Good Luck