A Daily Outlook: BTC/USD; Dec 01

Top 5 Headlines on Digital Currency:

  • The performance of cryptocurrencies in the past seven days might have seemed slightly unexciting, especially since the total market capitalization increased by “only” 1.8% to reach $2.7 trillion – Investing.
  • Aarika Rhodes, a Democrat running to represent California’s 30th congressional district in the U.S. House of Representatives, has begun to accept campaign contributions in Bitcoin using the Lightning Network – Investing.
  • MicroStrategy has purchased an additional 7,002 more Bitcoins (BTC) added to its growing cryptocurrency in its treasury. In fact, the firm now has 121,044 Bitcoins holdings – Investing.
  • Twitter Co-founder — Jack Dorsey — announced publicly Monday, via the social media company he founded, that he would be resigning from his position as Chief Executive Officer of the company. It seems that Dorsey intends to continue as CEO of digital payment platform, Square – Investing.
  • Leading asset manager Fidelity Investments launches a spot Bitcoin ETF in Canada – Investing.

Technical View:

  • The BTC moves in rigid boundaries and consolidated around $57,000 mark.
  • The pair made intraday high at $57,742 and low at $56,700 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $58,900 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $55,900 will check further supports.
$55,900 $58,900
$55,610 $59,150
$55,080 $59,600
$54,780 $60,200
$54,400 $60,800

Take a look and do trade wisely!
Good Luck