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SpanishA Daily Outlook: BTC/USD; May 4, 2022
Top 5 Headlines on Digital Currency:
- Institutional investors shed $133 million worth of Bitcoin (BTC) investment products last week, marking the largest week of outflows since June last year – Investing.
- Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy – Investing.
- Record-high surge in Ethereum Name Service domains triggers 90% rally in ENS (Ethereum Name Service) – Investing.
- Weiss Ratings has issued a warning regarding the risks of crypto mortgages. One of the companies that the firm placed a spotlight on is a digital baking startup based in Miami, called Milo – Investing.
- Popular BTM Operator: Bitcoin of America Launches New Website and Blog – Investing.
Technical View:
- The BTC appreciates on Wednesday and remains well supported above $38,000 mark.
- The pair made intraday high at $38,371 and low at $37,665 mark.
- Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $38,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $37,100 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $37,100 | $38,500 |
| $36,500 | $38,900 |
| $36,050 | $39,400 |
| $35,550 | $39,650 |
| $35,100 | $40,200 |
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