A Daily Outlook: BTC/USD; Feb 18, 2022

Top 5 Headlines on Digital Currency:

  • Arizona and Wyoming are racing to become the first US states to allow tax payments with crypto – Investing.
  • Gary Gensler, chair of the U.S. Securities and Exchange Commission, has responded to a letter from lawmakers calling the regulator denying approval of Bitcoin spot exchange-traded funds “unacceptable.” – Investing.
  • Digital assets institution Cabital unveils its secure fiat on-ramp and off-ramp solution for crypto exchanges — Cabital Connect. Cabital Connect aims to serve as a gateway for crypto platforms that allow users to utilize fiat currencies to buy and sell cryptocurrencies – Investing.
  • Coinbase Global announced the launch in Mexico of a pilot program that will allow recipients of cryptocurrency funds sent from abroad to collect their money in pesos, in a press release posted on its blog – Investing.
  • Bitcoin (BTC) mining generates a lot of “waste” heat. As energy prices spiral out of control in Europe, miners have come up with creative ways of recycling the heat generated by solving valid Bitcoin blocks – Investing.

Technical View:

  • The BTC spiked down sharply in previous session and currently remains well supported below $41,000 mark.
  • The pair made intraday high at $40,972 and low at $40,331 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $41,400 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $40,000 on H1 chart requires for the downside rally.
$40,000 $41,400
$39,610 $41,780
$39,300 $42,200
$39,050 $42,890
$38,800 $43,100

Take a look and do trade wisely!
Good Luck

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