Gtag:

A Daily Outlook: BTC/USD; March 25, 2022

Top 5 Headlines on Digital Currency:

  • An official at the Ministry of Finance of Malaysia reportedly opposed the idea of adopting cryptocurrencies like Bitcoin (BTC) as a payment method following recent crypto-friendly proposals by the deputy communications minister – Investing.
  • Japan’s social media giant Line is launching an NFT marketplace – Investing.
  • Eric Balchunas and James Seyffart, exchange-traded fund (EFT) analysts for Bloomberg, said that a proposed rule change with the United States Securities and Exchange Commission (SEC) could be the catalyst for the regulatory body approving a spot Bitcoin ETF in mid-2023 – Investting.
  • The Russian Federation’s energy chief Pavel Zavalny has floated the possibility of accepting Bitcoin as payment for its oil and gas from “friendly countries” such as China and Turkey – Investing.
  • El Salvador, the first country to adopt Bitcoin as legal tender, is seeking support from the world’s biggest cryptocurrency exchange, Binance, on how to foster its bitcoin adoption – Investing.

Technical View:

  • The BTC rises sharply against U.S. dollar and hovers around key resistance at $44,590 mark.
  • The pair made intraday high at $44,400 and low at $43,858 mark.
  • Today a day chart and H1 chart with triple EMA suggest bullish trend for the time being.
  • A sustained close above $44,590 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $42,300 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$43,800 $44,590
$43,150 $45,100
$42,680 $45,550
$42,200 $46,200
$41,500 $46,780

 

Take a look and do trade wisely!
Good Luck

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