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SpanishThe Wait is Over as BTC Broke the Rigid Boundaries, Hits Lowest Level Since Dec 2020; June 13, 2022
Top 5 Headlines on Digital Currency:
- The world’s largest digital token tumbled as much as 9% to below the $25,000 level — its lowest since December 2020. Other cryptocurrencies also declined as a broader sell-off continued.
- One of reason for sudden downfall is of Friday’s strong U.S. inflation data and upcoming U.S. FOMC Meeting due on Wednesday.
- Binance exchange has come up with a promotional offer “Binance learn and stake” for new users, allowing them to earn free Shiba Inu (SHIB) tokens. A total of 45,000 SHIB are up for grabs after new users complete an online course and quiz.
- Grayscale Investments has been preparing its legal team to work on its spot Bitcoin ETF application.
- According to an official announcement released on Thursday, layer 1 blockchain VeChain and sports powerhouse Ultimate Fighting Championship have entered a partnership centered around marketing and global promotions. The agreement is reportedly worth $100million and will be valid for a period of five years.
- Binance CEO, Changpeng Zhao (CZ), recently shared plans of acquiring two licenses that will be critical for the firm’s operations within the Philippines.
- The Japan Virtual and Crypto assets Exchange Association (JVCEA) – the country’s digital assets’ watchdog is likely to loosen up its screening process.
Source: ambcrypto
Technical View:
- The BTC depreciates extremely on Monday and hits lowest level since Dec, 2020.
- The pair made intraday high at $26,845 and low at $24,502 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $27,000 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $22,800 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $22,800 | $27,000 |
| $22,500 | $27,380 |
| $22,200 | $27,900 |
| $21,750 | $28,500 |
| $21,400 | $29,000 |
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