English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishKey Hurdles For BTC: $28,500 or $29,500? A Sustained Close of Either side will decide the Future of BTC; May 19, 2022
Top 5 Headlines on Digital Currency:
- Crypto-loving S.Koreans bet on Luna rising from ashes, worrying regulator – Investing.
- Luna had been one of the world’s most popular cryptocurrencies and its downfall, alongside TerraUSD, caused mayhem across the crypto spectrum globally, with bitcoin losing around a quarter of its value between May 9-12 – Investing.
- El Salvador’s big bet on bitcoin, which the Central American nation has been buying since September, has soured in recent weeks as a cryptocurrency rout shaved over a third of the value of the government’s holdings, Reuters calculations show – Investing.
- Despite being technically outlawed in China, Bitcoin mining is slowly regaining its ground in the country. According to data from the University of Cambridge, the country is now the second-largest contributor to Bitcoin’s global hash rate, closely following the United States – Investing.
- Huge testing milestone’ for Ethereum: Ropsten testnet Merge set for June 8 – Investing.
Technical View:
- The BTC trades slightly higher on Thursday and remains well supported above $28,500 mark.
- The pair made intraday high at $29,407 and low at $28,656 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $29,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $28,500 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $28,500 | $29,500 |
| $28,050 | $29,922 |
| $27,500 | $31,310 |
| $27,100 | $31,800 |
| $26,650 | $32,400 |
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