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SpanishWhat To Expect From BTC? Bull or Bear? May 18, 2022
Top 5 Headlines on Digital Currency:
- The largest investment bank in Japan, Nomura, is on its way to establish a new subsidiary company. The company will help clients invest in cryptocurrency and non-fungible tokens (NFTs) – Investing.
- As crypto adoption picks up around the world, the United Arab Emirates has turned out to be a flag bearer of the decentralized currency in the Middle East. According to reports, UAE is one of the top markets globally, where 33% of residents say they have invested in crypto – Investing.
- Portugal is often referred to in the media as a European tax haven, especially when it comes to crypto. Be that as it may, it looks like that portion of Portugal’s reputation is coming to a close – Investing.
- Former Fed Chair Ben Bernanke is confident Bitcoin will not ‘take over as alternate form of money’ – Investing.
- China returns as 2nd top Bitcoin mining hub despite the crypto ban – Investing.
Technical View:
- The BTC trades in rigid boundaries and consolidates around $30,000 mark.
- The pair made intraday high at $30,670 and low at $29,664 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $31,300 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 |
| $29,400 | $31,300 |
| $29,050 | $31,800 |
| $28,650 | $32,200 |
| $28,250 | $32,780 |
| $27,900 | $33,100 |
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