Gtag:

A Daily Outlook: BTC/USD; Jan 03, 2022

Top 5 Headlines on Digital Currency:

  • January 3 marks Bitcoin Genesis Day, which is widely celebrated by the crypto community as the day that the first BTC block was released way back in 2009. Hong Kong’s Bitcoin Association was one of the first to celebrate Genesis Day as Asian markets awoke to begin the first trading week of 2022 – Investing.
  • El Salvador’s president has made six predictions relating to bitcoin for 2022. He expects two more countries to adopt bitcoin as legal tender this year. Meanwhile, he expects El Salvador’s Bitcoin City to commence construction during the year and his country’s volcano bonds to be oversubscribed – Investing.
  • More billionaires turning to crypto on fiat inflation fears – Investing.
  • Estonia is set to introduce sweeping changes to its definition of Virtual Asset Service Providers, or VASPs, to include several cryptocurrency-related services — a move that could impact Bitcoin (BTC) ownership in the country — according to European compliance specialist Sumsub – Investing.
  • Bitcoin (BTC) institutional demand is conspicuously wanting at the end of the year as data flags the “underperformance” of the United States’ first Bitcoin futures exchange-traded fund (ETF) – Investing.

Technical View:

  • The BTC enjoys roller coaster movement and consolidates around $47,000 mark.
  • The pair made intraday high at $47,291 and low at $46,725 mark.
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $48,650 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $45,500 will check further supports.
SUPPORTS RESISTANCES
$46,280 $48,650
$46,150 $49,100
$45,800 $49,550
$45,500 $49,980
$45,220 $50,200

Take a look and do trade wisely!
Good Luck

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