Gtag:

A Daily Outlook: BTC/USD; Feb 4, 2022

Top 5 Headlines on Digital Currency:

  • Crypto miner in Texas shuts down 99% of operations as winter storm approaches – Investing.
  • The government of El Salvador is seeking to solve the serious technical flaws of the Chivo Wallet. Since the installation of Bitcoin as legal tender in the country, the states smartphone application for Bitcoin has experienced an array of technical problems – Investing.
  • Canada-based Purpose Bitcoin ETF attracted over $38 million worth of Bitcoin (BTC) this Tuesday, its third-largest daily inflow to date – Investing.
  • The United States’ national debt has passed $30 trillion — and even all the Bitcoin (BTC) in the world would hardly touch it – Investing.
  • Tax filing platform TurboTax is allowing U.S. filers to get their refunds directly in crypto as part of an arrangement with crypto exchange Coinbase – Investing.

Technical View:

  • The BTC trades slightly higher on Friday and hovers around $38,000 mark.
  • The pair made intraday high at $38,222 and low at $37,064 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $39,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $35,000 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$36,550 $38,550
$36,050 $38,900
$35,800 $39,200
$35,500 $39,650
$35,100 $40,100

Take a look and do trade wisely!
Good Luck

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