A Daily Outlook: BTC/USD; Dec 02, 2021

Top 5 Headlines on Digital Currency:

  • According to the timer on BlocksScan.io, XinFin’s XDC Network update on its XDPoS consensus protocol will go live at block number 38383838 on December 2nd, 2021. The XinFin DPoS 2.0 is the next-generation decentralized consensus engine by the XinFin XDC Network – Investing.
  • On Dec. 2, Square announced that it is changing the company name so it can give the “full Square brand” to its Seller business. The move follows social media giant Facebook’s decision to rebrand to Meta in late October. It also comes just days after CEO Jack Dorsey stepped down from Twitter – Investing.
  • MicroStrategy has gone on a Bitcoin buying spree. The intelligence software firm has now become the biggest buyer of Bitcoin – Investing.
  • Major American electronics retailer Newegg continues diving is enabling payments in major cryptocurrency – Investing.
  • Pangolin, the community-driven decentralized exchange for Avalanche (AVAX) and Ethereum (ETH) assets with fast settlement, low transaction fees, and democratic distribution, has announced a formal partnership with Olympus to create a unique, bonding program and co-marketing push – Investing.

Technical View:

  • The BTC continues to trade in rigid boundaries and hovers around $57,000 mark.
  • The pair made intraday high at $57,413 and low at $55,840 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
$50,100 $60,200
$54,400 $60,800

Take a look and do trade wisely!
Good Luck