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SpanishA Daily Outlook: BTC/USD; Dec 06, 2021
Top 5 Headlines on Digital Currency:
- According to data from Coinglass (formerly Bybt), positions worth around $2.4 billion have been liquidated over weekend, with BTC representing over 42% of them – Investing.
- Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000 after losing over 15% in market value – Investing.
- Crypto exchange platform BitMart was hacked and suffered an almost $200M-loss in a hot wallet compromise that was hosted on the Binance Smart Chain (BSC) AND Ethereum (ETH) blockchain – Investing.
- Crypto currency expert and White House adviser Whit Gibbs shows that Joe Biden’s government is mining bitcoins – Investing.
- South Korean parliament likely to suspend a planned 20 percent tax on annual profits from Digital Asset investments exceeding 2.5 million won for another year – Investing.
Technical View:
- The BTC remained extremely volatile over the weekend and touched $41,967 mark.
- Today also BTC starts a new day on a lower note and stabilizes below $50,000 mark.
- The pair made intraday high at $49,525 and low at $47,825 mark.
- Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $50,400 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $47,800 will check further supports.
| SUPPORTS | RESISTANCES |
| $47,800 | $50,400 |
| $46,500 | $50,980 |
| $46,100 | $51,320 |
| $45,700 | $51,700 |
| $44,900 | $52,050 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills