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SpanishA Daily Outlook: BTC/USD; May 23, 2022
Top 5 Headlines on Digital Currency:
- Ethereum’s core developer has announced that the much-awaited proof-of-stake merge could be finalized within the next three months – ambcrypto.
- Solana has also launched the features of the v1.10.15 testnet on Twitter – ambcrypto.
- Tether reportedly reduced its commercial paper holdings in Q1 of 2022 to improve the quality of its reserves – ambcrypto.
- Commodity Futures Trading Commission (CFTC) chair Rostin Behnam said cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) would be categorized as either a security or a commodity for regulation purposes. He announced that digital assets deemed as commodities would be regulated by the CFTC, and those considered securities would have the oversight of the Securities and Exchange Commission (SEC) – ambcrypto.
- Nine out of ten of the world’s central banks have been investigating CBDCs, which reportedly encompass more than 90 percent of the GDP worldwide – ambcrypto.
- A Swiss-based think tank has urged greater international cooperation on cryptocurrency regulation – ambcrypto.
Technical View:
- The BTC trades in narrow range on Monday and stabilizes above $30,000 mark.
- The pair made intraday high at $30,628 and low at $30,012 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $30,800 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 | $30,800 |
| $29,450 | $31,300 |
| $28,610 | $31,900 |
| $28,000 | $32,400 |
| $27,500 | $32,650 |
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