A 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.
$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