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SpanishA Daily Outlook: BTC/USD; May 13, 2022
Top 5 Headlines on Digital Currency:
- Chile’s central bank will make a decision on the launch of its digital currency (CBDC) in early 2023, announced the president of the issuing body, Rossana Costa, in a report on the benefits and challenges of this project published on Thursday – Investing.
- Legendary Value Investor Says Only Cryptoasset Without Any Competition Is Bitcoin – Investing.
- One of the United Arab Emirates (UAE)’s leading airlines, Emirates Airline, said it has plans to add “bitcoin as a payment service.” – Investing.
- Nomura has begun offering bitcoin over-the-counter derivatives to clients, it said Friday, the latest move by a traditional financial institution into the cryptocurrency industry, even as markets are in turmoil – Investing.
- The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was made in relation to a lawsuit filed in a district court in October 2020 involving the recovery of a loan of 1 Bitcoin (BTC) – Investing.
Technical View:
- The BTC trades almost flat on Friday and consolidates around $30,500 mark.
- The pair made intraday high at $30,960 and low at $28,686 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $30,950 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $29,400 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $29,400 | $30,950 |
| $29,050 | $31,200 |
| $28,650 | $31,800 |
| $28,250 | $32,200 |
| $27,900 | $32,800 |
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