Gtag:

A Daily Outlook: BTC/USD; April 20, 2022

Top 5 Headlines on Digital Currency:

  • The Australian markets look set for their first taste of cryptocurrency, with two Spot Bitcoin Exchange Traded Funds (ETFs) and one Ethereum Exchange Traded Fund (ETF) going live as early as next week – Investing.
  • India’s 30% crypto tax came into law on March 31 and was effective April 1, despite warnings from several stakeholders about its possible ill impact on the budding crypto industry – Investing.
  • Financial regulators have greenlit Australia’s first Bitcoin ETF to begin trading on April 27 and the Australian Financial Review reports it could see up to $1 billion in inflows – Investing.
  • Blockchain.com is set to become the second crypto exchange to launch an IPO in the U.S. – Investing.
  • Bitcoin (BTC) is in line for a relief bounce but still risks dropping all the way to $30,000 before May, a new analysis warned on April 18 – Investing.

Technical View:

  • The BTC trades flat on Wednesday and hovers around $41,500 mark.
  • The pair made intraday high at $41,734 and low at $41,244 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $41,800 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $40,500 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$40,200 $41,800
$39,650 $42,300
$39,100 $42,780
$38,500 $43,400
$38,022 $43,900

 

Take a look and do trade wisely!
Good Luck

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