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SpanishA Daily Outlook: BTC/USD; July 28, 2022
Top Headlines on Digital Currency:
- Institutional investors were getting back into the crypto market, focusing their bets on top coins like Bitcoin and Etherum.
- Cardano was observed to be the most developed asset in crypto as per Santiment.
- Solana has reached a new milestone in its active validator count, hitting 1,875. It had touched 1,000 active validators just over a year ago.
- Interest in Shiba Inu (SHIB) on Google has fallen to its lowest level in over a year.
- The total stablecoin supply was only about $151 billion by Q2 of this year.
- A new bill has been proposed in the U.S. to exempt small crypto transactions from capital gains tax. This would effectively make transactions under $50 tax-free.
Technical View:
- The BTC recovers slightly from previous losses and stabilizes above $23,000 mark.
- The pair made intraday high at $23,452 and low at $22,713 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $23,650 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $21,800 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $21,800 | $23,650 |
| $21,350 | $24,200 |
| $20,800 | $24,810 |
| $20,400 | $25,400 |
| $20,000 | $25,900 |
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