Gtag:

A Daily Outlook: BTC/USD; Feb 25, 2022

Top 5 Headlines on Digital Currency:

  • China’s crackdown on cryptocurrencies continues as the country’s Supreme Court declares fundraising through cryptocurrency illegal – Investing.
  • China’s new law will come into effect on March 1, 2022 – Investing.
  • Russian Bitcoin (BTC) miners are reportedly running as usual despite the government’s invasion of Ukraine this week – Reuters.
  • USDT premiums soar on Ukraine’s Kuna exchange – Investing.
  • Tonga’s timeline for Bitcoin as legal tender and BTC mining with volcanoes – Investing.

Technical View:

  • The BTC trades in narrow range on Friday and stabilizes below $40,000 mark.
  • The pair made intraday high at $39,019 and low at $38,176 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $39,100 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $37,000 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$38,100 $39,100
$37,550 $39,550
$37,000 $39,999
$36,780 $40,200
$36,200 $40,550

Take a look and do trade wisely!
Good Luck

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