A Daily Outlook BTC/USD; June 01, 2022

Top 5 Headlines on Digital Currency:

  • As per the data from Bitcoin Visuals, the network attained a high of 3915.776 BTC yesterday. Since its payment channel balance is reflected without having to broadcast a transaction on chain, a second layer on top of the Bitcoin network is created that expands its capabilities – ambcrypto.
  • The Cardano ecosystem was buzzing with much development as its native token surged by over 25% to break through its $0.5 resistance. The network has now seen the minting of over 5 million NFTs – ambcrypto.
  • South Korean authorities have reportedly sent subpoenas to all employees at Terraform Labs – ambcrypto.
  • Mirror Protocol’s $90 million exploit has become the longest it has ever taken for a crypto exploit to be discovered. Going unnoticed for about seven months, the attack was revealed for the first time in the last few days – ambcrypto.
  • MoneyGram’s CEO Alex Holmes wishes the international remittances stalwart to be a bridge between the crypto and fiat worlds with its new service. Partnering with Stellar (XLM) blockchain, it will let people send stablecoins and convert them into hard currencies – ambcrypto.
  • The world’s largest crypto exchange is broadening its horizons in the European continent. The latest development has been Binance’s registration and regulatory approval in Italy –ambcrypto.
  • The e-CNY, China’s attempt at creating a central bank digital currency, would be utilized for bolstering the pandemic hit local economy – ambcrypto.

Technical View:

  • The BTC trades flat on Wednesday and hovers around $31,500 mark.
  • The pair made intraday high at $31,962 and low at $31,312 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $32,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $30,800 on H1 chart requires for the downside rally.
$30,800 $32,200
$30,150 $32,800
$29,800 $33,450
$29,500 $33,900
$29,000 $34,150


Take a look and do trade wisely!
Good Luck