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SpanishA Daily Outlook: BTC/USD; May 11, 2022
Top 5 Headlines on Digital Currency:
- A Russian independent news company has raised more than US$250,000 in cryptocurrency donations from supporters in order to continue reporting independent news under a barrage of Russian government propaganda and censorship – Investing.
- El Salvador bought 500 Bitcoin at an average price of $30,744 – Investing.
- Townsquare Media (NYSE:TSQ), a New York based digital marketing and radio station company is the latest business to back the original cryptocurrency with its addition of $5 million worth of Bitcoin (BTC) to its balance sheet – Investing.
- Australia is set to list its first three cryptocurrency exchange-traded funds (ETFs) on Thursday, May 12th. The first-ever Austrailian crypto ETFs will go live on the CBOE exchange network, and will be managed by Cosmos Asset Management and ETF Securities – Investing.
- The Fed cites worries about stablecoin in its latest Financial Stability Report – Investing.
Technical View:
- The BTC remains slightly volatile on Wednesday and trading around $30,500 mark.
- The pair made intraday high at $31,882 and low at $30,260 mark.
- Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $32,400 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $30,000 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $30,000 | $32,800 |
| $29,600 | $33,150 |
| $29,000 | $33,720 |
| $28,550 | $34,050 |
| $28,100 | $34,680 |
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