A Daily Outlook: BTC/USD; Jan 28, 2022

Top 5 Headlines on Digital Currency:

  • The president of Turkey, Recep Tayyip Erdoğan, is turning into cryptocurrencies, as the national lira has been experiencing a downfall for the last few years. Turkey’s high inflation is disrupting the country, and cryptocurrency analysts believe that Bitcoin could help solve the country’s prolonged issues with inflation – Investing.
  • Bitcoin (BTC) price continues to flash mixed signals, raising uncertainty among investors and negatively impacting asset prices across the market – Investing.
  • $1M Grant Given to DeFi Launchpad for Harmony Integration – Investing.
  • Crypto Money Laundering Grew By 30% in 2021, DeFi Involvement Rises – Investing.
  • Raising claims of its potential financial stability risks, Russia’s central bank proposed a blanket ban on the use, trading, and mining of all cryptocurrencies within its borders. However, with recent reports, the ban looks less likely. In a January 26 video conference, the Russian President, Vladimir Putin, declared his stance, and it isn’t totally in line with the recent call from the Central Bank of Russia – Investing.

Technical View:

  • The BTC trades in stiff boundaries and remains well supported below $37,000 mark.
  • The pair made intraday high at $37,534 and low at $36,574 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $37,594 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $35,500 on H1 chart requires for the downside rally.
$36,000 $37,600
$35,550 $38,120
$35,100 $38,740
$34,400 $39,200
$34,000 $39,550

Take a look and do trade wisely!
Good Luck

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