A Daily Outlook: BTC/USD; June 10, 2022

Top 5 Headlines on Digital Currency:

  • Bitcoin witnessed a 52% reduction in the number of times it was declared ‘dead’ despite a persistent bearish market.
  • Ethereum developers have successfully activated the Merge of Ropsten’s proof-of-work chain with the proof-of-stake Beacon Chain. The event happened June 8th, and involved a couple of minor hiccups that will be fixed before the mainnet launch.
  • As per a recent twitter poll, Cardano has emerged as the most held cryptocurrency in a bear market. Developers of the blockchain, Input Output (IOHK), have also revealed that the Cardano network now has over 1,000 projects building on it.
  • The decentralized exchange Osmosis has been exploited for approximately $5 million due to a bug in the system. The bug allowed malicious users to drain liquidity from the exchange by depositing and immediately withdrawing 50% more money from the pools.
  • Major South Korean exchanges have delisted Litecoin (LTC) due to its new privacy features.
  • Russia’s latest bill seeks to ban crypto as means of payment. If this bill is passed, cryptocurrencies won’t be accepted as a means of payment in the country.

Source: ambcrypto

Technical View:

  • The BTC continues to trade in stiff boundaries and consolidates around $30,000 mark.
  • The pair made intraday high at $30,333 and low at $29,550 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $32,300 on D1 chart requires for the upside rally.
  • Alternatively, a consistent close below $28,500 on D1 chart requires for the downside rally.
$29,500 $30,780
$29,150 $31,200
$28,800 $31,650
$28,500 $32,000
$28,100 $32,300


Take a look and do trade wisely!
Good Luck