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SpanishA Daily Outlook: BTC/USD; March 21, 2022
Top 5 Headlines on Digital Currency:
- Businesses in El Salvador have been slow to adopt Bitcoin (BTC) ever since the country famously recognized the digital asset as legal tender in September 2021, according to a recent survey by the Salvadoran Chamber of Commerce – Investing.
- While the Ukrainian government has moved to legalize Bitcoin (BTC) amid the ongoing attacks from the Russian military, some of the largest local banks have reportedly banned their clients from buying BTC using the national currency – Investing.
- IMF Asked Argentina to Discourage the Use of Bitcoin – Investing.
- Crypto-fueled relief aid for Ukraine – Investing.
- SBF opens Aussie Blockchain Week as Govt says we’re “open for business” – Investing.
Technical View:
- The BTC starts a new week on a lower note and remains well supported around $41,000 mark.
- The pair made intraday high at $41,475 and low at $40,516 mark.
- Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $41,550 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $40,800 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $40,100 | $41,550 |
| $39,500 | $41,900 |
| $39,050 | $42,300 |
| $38,720 | $42,650 |
| $38,200 | $43,100 |
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