A Daily Outlook: BTC/USD; March 10, 2022

Top 5 Headlines on Digital Currency:

  • Bitcoin surged Wednesday after President Joe Biden signed an executive order to review the U.S. approach to cryptocurrencies that some say could spur adoption by legitimizing it as an asset class and provide investors with a long-awaited framework to assess the popular cryptocurrency – Investing.
  • Recently, blockchain payments startup Basqet announced the launch of its cryptocurrency payments gateway which will allow businesses to accept Bitcoin and other cryptocurrencies as payment – Investing.
  • On Wednesday, total crypto donations across Ukrainian government wallet addresses, charities and relief efforts tracked by Cointelegraph have reached $108 million – Investing.
  • U.S. Treasury Secretary Janet Yellen praised President Joe Biden’s executive order regarding digital assets in a statement on the Treasury’s website on Tuesday – Investing.
  • With a New Apple iPhone Feature, Cryptocurrency Payments May Become Easy Peasy Crypto Squeezy – Investing.

Technical View:

  • The BTC remained extremely volatile since last two day and currently hovers around $39,000 mark.
  • The pair made intraday high at $42,053 and low at $38,796 mark.
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $42,550 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $38,200 on H1 chart requires for the downside rally.
$38,200 $42,550
$37,500 $42,800
$37,000 $43,100
$36,550 $43,700
$36,100 $44,050

Take a look and do trade wisely!
Good Luck

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