Gtag:

A Daily Outlook: BTC/USD; April 07, 2022

Top 5 Headlines on Digital Currency:

  • Bitcoin transaction fees have hit an all-time low – Investing.
  • World’s largest darknet marketplace, Hydra, gets shut down. The operation happened with coordination between the German authorities and the US law enforcement – Investing.
  • MicroStrategy announced that the company has bought $190.5 million BTC – Investing.
  • Vantage Bank in Laredo, Texas is launching an alternative to traditional saving plans to its employees – the Bitcoin Savings Plan – Investing.
  • Canadian Bitcoin (BTC) exchange-traded fund (ETF) holdings have increased to all-time highs, according to recent research, and spot-based products are leading the way – Investing.

Technical View:

  • The BTC recovers slightly from previous losses and remains well supported above $43,000 mark.
  • The pair made intraday high at $43,563 and low at $42,741 mark.
  • Today a day chart is up and H1 chart with triple EMA suggests bearish trend for the time being.
  • A sustained close above $44,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $42,900 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$42,500 $44,200
$42,050 $44,800
$41,650 $45,100
$41,100 $45,550
$40,800 $45,990

 

Take a look and do trade wisely!
Good Luck

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