What 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.
$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