A Daily Outlook: BTC/USD; June 29, 2022

Top 5 Headlines on Digital Currency:

  • Bitcoin balance on exchanges saw major decreases in the past few days. The flagship cryptocurrency is being drained out from exchange wallets. Major decreases in BTC supplies were seen in the past few days, especially last Sunday when the level hit a 3-year low.
  • Cardano took the third spot in the long list of most phished crypto projects and brands. The data was collated by VPN provider Atlas VPN.
  • Goldman Sachs has downgraded Coinbase’s stock rating to sell.
  • Crypto hedge fund Three Arrows Capital (3AC) was back in the news for defaulting on its 15,250 Bitcoin loan, as well as a $660 million USDC loan. A notice of default was filed by Voyager Digital due to the same.
  • Central African Republic’s highly-awaited crypto hub is all set to launch on July 3, 2022. The news was announced by the country’s President Faustin-Archange Touadéra.
  • The European Union (EU) is planning to ban interest payments on deposits in stablecoins.

Source: ambcrypto

Technical View:

  • The BTC trades marginally lower on Wednesday and hovers around $20,000 mark.
  • The pair made intraday high at $20,364 and low at $19,883 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $21,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $19,800 on H1 chart requires for the downside rally.
$19,800 $21,200
$19,680 $21,800
$19,320 $22,450
$19,050 $22,900
$18,620 $23,500


Take a look and do trade wisely!
Good Luck