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SpanishA Daily Outlook; BTC/USD; May 27, 2022
Top 5 Headlines on Digital Currency:
- JPMorgan has said that the fair price of Bitcoin is $38,000. The bank also revealed Bitcoin and other cryptocurrencies as its preferred “alternative assets”. – ambcrypto.
- Cardano network seems to be preferred by users more than that of the altcoin king Ethereum. Messari’s latest data exposed that the number of Cardano active users greatly exceeded that of Ethereum’s in percentage terms – ambcrypto.
- The United States Securities and Exchange Commission (SEC) has filed its objection to the amici request made on behalf of XRP token holders in the SEC v. Ripple Labs lawsuit. – ambcrypto.
- The European Central Bank (ECB) published a report titled ‘Decrypting financial stability risks in crypto-asset markets’. The survey conducted for the report disclosed the rising increase in retail interest in digital assets – ambcrypto.
Technical View:
- The BTC remained highly volatile in previous session and currenyl trading around $29,000 mark.
- The pair made intraday high at $29,360 and low at $28,604 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $30,200 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $28,500 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $28,000 | $30,200 |
| $27,680 | $30,800 |
| $27,200 | $31,450 |
| $26,550 | $31,800 |
| $26,050 | $32,500 |
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