English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishA Daily Outlook: BTC/USD; March 25, 2022
Top 5 Headlines on Digital Currency:
- An official at the Ministry of Finance of Malaysia reportedly opposed the idea of adopting cryptocurrencies like Bitcoin (BTC) as a payment method following recent crypto-friendly proposals by the deputy communications minister – Investing.
- Japan’s social media giant Line is launching an NFT marketplace – Investing.
- Eric Balchunas and James Seyffart, exchange-traded fund (EFT) analysts for Bloomberg, said that a proposed rule change with the United States Securities and Exchange Commission (SEC) could be the catalyst for the regulatory body approving a spot Bitcoin ETF in mid-2023 – Investting.
- The Russian Federation’s energy chief Pavel Zavalny has floated the possibility of accepting Bitcoin as payment for its oil and gas from “friendly countries” such as China and Turkey – Investing.
- El Salvador, the first country to adopt Bitcoin as legal tender, is seeking support from the world’s biggest cryptocurrency exchange, Binance, on how to foster its bitcoin adoption – Investing.
Technical View:
- The BTC rises sharply against U.S. dollar and hovers around key resistance at $44,590 mark.
- The pair made intraday high at $44,400 and low at $43,858 mark.
- Today a day chart and H1 chart with triple EMA suggest bullish trend for the time being.
- A sustained close above $44,590 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $42,300 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $43,800 | $44,590 |
| $43,150 | $45,100 |
| $42,680 | $45,550 |
| $42,200 | $46,200 |
| $41,500 | $46,780 |
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