A Daily Outlook: BTC/USD; Nov 22, 2021

Top 5 Headlines on Digital Currency:

  • Crypto made a lower start to the week while oil and the euro were under pressure on Monday, as the return of COVID-19 restrictions in Europe. Austria began its fourth lockdown on Monday, with neighbouring Germany warning it may follow suit, shutting Christmas markets, bars, cafes and theatres – Investing.
  • Jack Dorsey, co-founder, and CEO of both Square and Twitter (NYSE:TWTR), released a white paper Friday detailing plans for Square’s decentralized Bitcoin (BTC) exchange tbDEX. Unlike most decentralized exchanges, or DEXs, tbDEX will not utilize a trustless model, and therefore will not feature its own governance token – Investing.
  • Cryptocurrency, once considered a scam and associated with black money, is now taught in higher education institutions. Rather than pursue traditional degrees in Economics or Finance, many students these days are choosing degrees in blockchain and digital currencies. As a result, more universities are adding crypto to their curriculum and offer courses in DeFi – Investing.
  • New York-based crypto-mining service provider Foundry USA takes the lead to become the world’s second-largest Bitcoin (BTC) mining pool after taking up a 15.42% share of the network – Investing.
  • Fidelity is the first solution for the custody and trading of bitcoin in the country, and is already available to institutional investors – Investing.

Technical View:

  • The BTC enjoys roller coaster movement and remains well supported below $60,000 mark.
  • The pair made intraday high at $58,775 and low at $56,825 mark.
  • Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $58,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $55,900 will check further supports.
$55,900 $59,200
$55,410 $59,720
$55,080 $60,170
$54,780 $60,700
$54,400 $61,180

Take a look and do trade wisely!
Good Luck