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SpanishA Daily Outlook: BTC/USD June 07, 2022
Top 5 Headlines on Digital Currency:
- As the layer one network got closer to shifting to a proof-of-stake blockchain, the total value staked in ETH 2.0 soared to new highs. According to the data provided by Glassnode, the total number of Ether locked in ETH 2.0 is now above 12.764M – ambcrypto.
- Cardano was enjoying a good amount of institutional inflows as per CoinShares. Investors were observed pulling funds from Ethereum and Bitcoin to ADA – ambcrypto.
- According to reports, the New York State Senate has approved a bill that includes a two-year ban on Proof-of-Work (PoW) mining operation – ambcrypto.
- The St. Louis Federal Reserve stirred up a mix of amusement and curiosity from the crypto community on Tuesday, May 7, after publishing a post showing how the cost of eggs in Bitcoin (BTC) has fluctuated over the last 14-months compared to the U.S. dollar – Investing.
- A further two cryptocurrency-backed exchange-traded funds (ETF) have launched on the Cboe Australia exchange on Monday, bringing the total amount of crypto ETFs available to Australian traders to six – Investing.
- Indonesian crypto asset platform Pintu announced the closure of a $113 million Series B funding round participated by four prominent investors Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group – Investing.
Technical View:
- The BTC falls sharply on Tuesday and slips back below $30,000 mark.
- The pair made intraday high at $31,351 and low at $29,184 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $31,200 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $29,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $29,000 | $31,500 |
| $28,750 | $31,950 |
| $28,200 | $32,400 |
| $27,900 | $32,800 |
| $27,500 | $33,150 |
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