BTC Faces Sudden Downside Pressure, A Sustained Close below $21,200 Tests Further Weaknesses; Aug 19, 2022

Top Headlines on Digital Currency:

• BTC hits fresh 3 – week low, the reason for the drop is not immediately clear.
• Cardano recently released the Cardano Rosetta 1.8.0 upgrade.
• Phantom wallet recently launched a new burn feature that allows users to remove spam NFTs sent by scammers. The new feature is said to be accessible via the Burn Token tab in the wallet’s app, allowing users to receive a small deposit of SOL every time they use it.
• Chainanalysis revealed hacks and exploits have increased with stolen crypto’s worth totalling $1.9 billion.
• The Acala network recovered nearly 3 billion aUSD following the two traces it made after an exploit that minted a billion aUSD.
• Input Output Global (IOG) recently partnered with NKMR, which claims to be ‘the number one NFT minting and payment infrastructure ecosystem on Cardano.’ NKMR will be building a Minting API for a new NFT ecosystem to enable NFT adoption on the Cardano network.
• Ontario-based crypto exchanges Bitbuy and Newton have announced the new change after working on getting registered with the Ontario Securities Commission (OSC).
• Ukraine’s Deputy Prime Minister Mykhailo Fedorov recently revealed that through the government-run initiative ‘Aid For Ukraine,’ they were able to collect $54 million in crypto funds.
• Colombia’s central bank governor Leonardo Villar has hinted towards the development of a new national digital currency. Colombia’s central bank is looking to “advance toward the development of a system of digital transfers,” said Villar – Investing.

Source: ambcrypto

• Colombia’s central bank governor Leonardo Villar has hinted towards the development of a new national digital currency. Colombia’s central bank is looking to “advance toward the development of a system of digital transfers,” said Villar – Investing.

Technical View:

• The BTC spikes down sharply on Friday and hits lowest level since July 27, 2022.
• The pair made intraday high at $23,202 and low at $21,404 mark.
• Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
• A sustained close above $22,500 on H1 chart requires for the upside rally.
• Alternatively, a consistent close below $21,000 on H1 chart requires for the downside rally.

Take a look and do trade wisely!
Good Luck