A Daily Outlook: BTC/USD; Dec 07, 2021

Top 5 Headlines on Digital Currency:

  • The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November – Investing.
  • The crypto arm of the recently rebranded Square (now Block) has demonstrated its Lightning Development Kit (LDK) as it aims to turbocharge the Bitcoin network – Investing.
  • According to a report published by Grayscale Investments on Monday, more than one-quarter of U.S. investors surveyed (26%) said they already own Bitcoin (BTC) – Investing.
  • Phase One of the NEVM launch is complete! Our Bitcoin-secured Layer 1 for EVM smart contracts reached mainnet on block 1,317,500, December 6th, 2021. With this upgrade to the Syscoin network, one can simultaneously enjoy all the benefits of Bitcoin’s POW security and the flexibility of smart contracts on a modular chain built to remain indefinitely decentralized, scalable, and affordable – Investing.
  • Japan’s financial regulators may propose legislation in 2022 restricting stablecoin issuance – Investing.

Technical View:

  • The BTC appreciates on Tuesday and remains well supported above $50,000 mark.
  • The pair made intraday high at $51,500 and low at $50,421 mark.
  • Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $52,100 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $47,450 will check further supports.
$47,450 $51,700
$46,500 $52,100
$46,100 $52,810
$45,700 $53,050
$44,900 $53,680

Take a look and do trade wisely!
Good Luck