A Daily Outlook: BTC/USD; March 01, 2022

Top 5 Headlines on Digital Currency:

  • KPMG Canada has purchased a World of Women (WoW) Ethereum NFT for 25 ETH weeks after adding Bitcoin and Ethereum to its balance sheet – Investing.
  • Cryptocurrency investment funds recorded a sizable increase in inflows last week, signaling that institutional investors were still gaining exposure to digital assets despite extreme volatility in the market – Investing.
  • The international hacktivist collective, which calls itself Anonymous and has never revealed its identity, declared cyberwar against Russian governmental and financial institutions after Russian forces entered Ukraine’s territory and started a full-scale war last Thursday – Investing.
  • The leading crypto news channel Watcher Guru has announced its listing of the top 10 most popular crypto currencies on Twitter. The post surprisingly listed BNB as the most popular, followed by Bitcoin and Dogecoin as the second and third most popular – Investing.
  • The use of cryptocurrencies in Venezuela has skyrocketed in the last three years due to a series of factors such as hyperinflation, the constant loss of value of the bolivar, the shortage of banknotes, and the general mistrust of the local currency, explains economist Aaron Olmos – Investing.

Technical View:

  • The BTC trades in narrow range and hovers around $44,000 mark.
  • The pair made intraday high at $43,750 and low at $42,870 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $45,100 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $42,000 on H1 chart requires for the downside rally.
$42,800 $45,100
$42,200 $45,500
$42,000 $46,300
$41,550 $46,810
$41,000 $47,200

Take a look and do trade wisely!
Good Luck

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