A Daily Outlook: BTC/USD; Dec 29, 2021

Top 5 Headlines on Digital Currency:

  • According to a study by the National Bureau of Economic Research (NBER), the top Bitcoin holders own 1% of the 27% of the 19 million Bitcoin currently in circulation – Investing.
  • Blockchain data research firm Arcane Research has taken a look at the year that was in its final report for 2021 and offered its predictions for crypto markets going into 2022. “Bitcoin will outperform the S&P 500 in 2022.”- Investing.
  • Bitcoin daily losses near $4K as S&P 500 hits 69th all-time high of 2021 – Investing – Investing.
  • Turkish laws keep the growth of the crypto industry in check as the lira suffers its worst devaluation in years. The law to regulate BTC is to be sent “without delay” to parliament. – Investing.
  • Mexico’s third-richest person sent out a heart-warming New Year message to Bitcoin (BTC) enthusiasts on Christmas Eve. Ricardo Salinas Pliego recommended moving away from fiat money and buying Bitcoin in a two-minute festive video – Investing.

Technical View:

  • The BTC fell sharply in previous session and touched $47,300 mark.
  • The pair made intraday high at $48,157 and low at $47,480 mark.
  • Today a day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $48,650 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $46,755 will check further supports.
$46,755 $48,650
$46,150 $49,100
$45,800 $49,550
$45,220 $49,980
$44,800 $50,200

Take a look and do trade wisely!
Good Luck