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A Daily Outlook: BTC/USD; March 29, 2022

Top 5 Headlines on Digital Currency:

  • Bitcoin influencer Alex Gladstein is getting ‘canceled’ on Twitter after sharing his sentiments towards targeted smart sanctions in Russia – Investing.
  • The total value of the cryptocurrency market rose above $2 trillion on Friday, according to analytics platform CoinMarketCap. To put that in context, the market briefly hit $3 trillion on Nov. 10, when bitcoin reached $69,000 – Investing.
  • Grayscale CEO Michael Sonnenshein said the firm is gearing up for a legal fight if Grayscale’s Bitcoin Spot ETF product is denied by the United States Securities and Exchange Commission (SEC) – Investing.
  • Thailand’s financial authorities spoke out against using crypto as a means of payment, while rumors of potential legal tender adoption of crypto emerged and died in Honduras – Investing.
  • Over in the United Kingdom, both the central bank and the Financial Conduct Authority also dropped position papers on crypto-related issues – Investing.

Technical View:

  • The BTC trades slightly higher on Tuesday and stabilizes above $47,000 mark.
  • The pair made intraday high at $47,752 and low at $47,082 mark.
  • Today a day chart and H1 chart with triple EMA suggest bullish trend for the time being.
  • A sustained close above $48,050 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $46,100 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$46,100 $48,050
$45,800 $48,480
$45,680 $48,755
$45,200 $49,100
$44,500 $49,500

 

Take a look and do trade wisely!
Good Luck

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