Daily Outlook: BTC/USD; May 02, 2022

Top 5 Headlines on Digital Currency:

  • Goldman Sachs has offered its first Bitcoin- (BTC)-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall Street – Investing.
  • Bitfinex, among the world’s largest cryptocurrency exchanges, recently announced its plans to expand into Turkey – Investing.
  • Elon Musk buys Twitter (NYSE:TWTR) for $44B crypto industry reacts – Investing.
  • Bitcoin network difficulty breaks into a new all-time high of 29.794T – Investing.
  • Billionaire investor Warren Buffett back bashing Bitcoin, claims it ‘doesn’t produce anything’ – Investing.

Technical View:

  • The BTC trades marginally higher on Monday and hovers around $39,000 mark.
  • The pair made intraday high at $39,153 and low at $38,373 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $39,450 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $38,500 on H1 chart requires for the downside rally.
$38,500 $39,450
$38,050 $39,900
$37,680 $40,200
$37,100 $40,800
$36,500 $41,300


Take a look and do trade wisely!
Good Luck