BTC Consolidates Around $30,000 mark, A Consistent Close Above $30,500 Requires for the Upside Rally; May 20, 2022

Top 5 Headlines on Digital Currency:

  • According to Santiment, idle Bitcoin addresses have become active again after being dormant for a long period – ambcrypto.
  • Ethereum drops below its $2k mark as trading volumes decrease. Market sentiment seems low despite the upcoming proof-of-stake merge – ambcrypto.
  • Shiba Inu’s burn rate soared by 800% in 24 hours.
  • The sudden spike in burn rate occurred after the crypto started awarding $burntSHIB, which could be used to get RYOSHI – ambcrypto.
  • Do Kwon’s governance proposal that could fork the Terra blockchain has seen 85% of votes from LUNA holders favoring the split – ambcrypto.
  • Ripple will be partnering with a Lithuanian fintech firm to facilitate cross-border money transfers – ambcrypto.
  • Binance said it has been trying to acquire a regulatory permit in Germany. The cryptocurrency exchange already engages with regulators across Europe – ambcrypto.

Technical View:

  • The BTC trades flat on Friday and trading above $30,000 mark.
  • The pair made intraday high at $30,725 and low at $29,834 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $30,500 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $29,800 on H1 chart requires for the downside rally.
$29,800 $30,500
$29,200 $31,300
$28,610 $31,900
$28,000 $32,400
$27,500 $32,650


Take a look and do trade wisely!
Good Luck