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SpanishBTC 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.
| SUPPORTS | RESISTANCES |
| $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
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