A Daily Outlook: BTC/USD; Feb 15, 2022

Top 5 Headlines on Digital Currency:

  • Russia had become the third-largest centre for bitcoin mining in the world as of last August, according to data from Britain’s Cambridge Centre for Alternative Finance – Investing.
  • The United States accounts for the largest share of mining, about 42.7% of the global “hashrate” – the computing power being used by computers connected to the bitcoin network – followed by Kazakhstan and Russia with 18.1% and 11.2% respectively –Investing.
  • The U.S. Securities and Exchange Commission has allowed comments and feedback on a proposed rule change that would convert Grayscale’s Bitcoin Trust to a spot-based exchange-traded fund – Investing.
  • Uber (NYSE:UBER) to Accept Crypto, Robinhood (NASDAQ:HOOD) to Undertake ‘Crypto First’ Global Expansion – Investing.
  • Bitcoin’s biggest competitor, Ethereum, has also recorded significant improvements of late, with its gas fees dropping to their lowest point in six months. Gas fees on the Ethereum network are now 71% cheaper than they were in January – Investing.

Technical View:

  • The BTC spikes up sharply and remains well supported above $43,000 mark.
  • The pair made intraday high at $43,805 and low at $42,469 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $44,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $42,500 on H1 chart requires for the downside rally.
$42,500 $44,200
$41,800 $44,620
$41,550 $45,100
$41,100 $45,550
$40,500 $45,900

Take a look and do trade wisely!
Good Luck

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