Gtag:

A Daily Outlook: BTC/USD; May 4, 2022

Top 5 Headlines on Digital Currency:

  • Institutional investors shed $133 million worth of Bitcoin (BTC) investment products last week, marking the largest week of outflows since June last year – Investing.
  • Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy – Investing.
  • Record-high surge in Ethereum Name Service domains triggers 90% rally in ENS (Ethereum Name Service) – Investing.
  • Weiss Ratings has issued a warning regarding the risks of crypto mortgages. One of the companies that the firm placed a spotlight on is a digital baking startup based in Miami, called Milo – Investing.
  • Popular BTM Operator: Bitcoin of America Launches New Website and Blog – Investing.

Technical View:

  • The BTC appreciates on Wednesday and remains well supported above $38,000 mark.
  • The pair made intraday high at $38,371 and low at $37,665 mark.
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $38,500 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $37,100 on H1 chart requires for the downside rally.
SUPPORTS RESISTANCES
$37,100 $38,500
$36,500 $38,900
$36,050 $39,400
$35,550 $39,650
$35,100 $40,200

 

Take a look and do trade wisely!
Good Luck

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