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May 3, 2022

A Daily Outlook: BTC/USD; May 03, 2022

Top 5 Headlines on Digital Currency:

The Bitcoin Mining Council (BMC) responded to a letter sent to the United States Environmental Protection Agency (EPA) administrator Michael Regan by Democratic legislators last month with a letter of its own seeking to rectify inaccuracies about Bitcoin (BTC) mining and its environmental impact – Investing.
While billionaire Warren Buffett recently lashed out at Bitcoin as an unproductive asset, Tesla (NASDAQ:TSLA), in a recent SEC filing, has lauded Bitcoin’s liquidity and long-term potential – Investing.
Years after trash-talking Bitcoin and calling it “rat poison,” Warren Buffett appears to be finally coming around. However, the billionaire is not stoked by the performance of the world’s most populous cryptocurrency – Investing.
El Salvador’s government-backed Bitcoin (BTC) wallet has reached significant success in terms of adoption, according to an exec at the cryptocurrency exchange behind the wallet – Investing.
Meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) seem to reign on different continents. While DOGE is the most googled coin in the United States, European users tend to search for Shiba Inu more often – Investing.

Technical View:

The BTC remains almost unchanged on Tuesday and trading around $38,500 mark.
The pair made intraday high at $38,606 and low at $38,309 mark.
Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
A sustained close above $39,100 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $38,200 on H1 chart requires for the downside rally.

SUPPORTS	RESISTANCES
$38,200	$39,450
$37,750	$39,900
$37,400	$40,200
$37,050	$40,800
$36,500	$41,300

Take a look and do trade wisely!
Good Luck

TP Global FX Research Team

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