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SpanishA Daily Outlook: BTC/USD; March 04, 2022
Top 5 Headlines on Digital Currency:
- Switzerland’s southern city of Lugano plans for many local businesses to accept some cryptocurrencies as “de facto” legal tender as part of a partnership with Tether – Investing.
- The People’s Bank of China revealed the effects of the country’s latest cryptocurrency ban on the financial markets – Investing.
- Ukraine said that it would accept cryptocurrency donations in the form of the Dogecoin (DOGE) cryptocurrency token from supporters of the conflict with Russia – Investing.
- President Joe Biden’s four nominees to join the Commodity Futures Trading Commission told lawmakers that the main U.S. derivatives overseer should take on new responsibilities regulating cryptocurrencies – Investing.
- Russian crypto volume across major exchanges plunges by 50% – Investing.
Technical View:
- The BTC erases previous gain and remains well supported below $42,000 mark.
- The pair made intraday high at $42,540 and low at $41,077 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $42,800 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $40,550 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $40,500 | $42,800 |
| $40,021 | $43,300 |
| $39,650 | $43,720 |
| $39,100 | $44,100 |
| $38,500 | $44,500 |
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