Key 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.
$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