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SpanishA Daily Outlook: BTC/USD; May 30, 2022
Top 5 Headlines on Digital Currency:
- The number of new addresses on the Bitcoin network has been plummeting recently – ambcrypto.
- On-chain data has revealed that whales have been collectively accumulating XRP recently – ambcrypto.
- Cardano’s Blockchain Insights released the results of the epoch 340 yesterday – ambcrypto.
- Cathie Wood’s ARK Investment Management has filed for another spot Bitcoin exchange-traded fund (ETF) – ambcrypto.
- Binance has decided to tighten its KYC and sanctions screening to address the exchange’s potential ‘risks’ – ambcrypto.
- The Portuguese parliament has blocked the bill to tax cryptocurrencies – ambcrypto.
Technical View:
- The BTC recovers sharply from previous losses and remains well suppoted above $30,000 mark.
- The pair made intraday high at $30,887 and low at $29,276 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $31,200 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $29,800 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $29,000 | $31,200 |
| $28,500 | $31,680 |
| $28,050 | $31,900 |
| $27,600 | $32,500 |
| $27,050 | $33,000 |
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