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.

Take a look and do trade wisely!
Good Luck