English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
SpanishA Daily Outlook: BTC/USD; Nov 23, 2021
Top 5 Headlines on Digital Currency:
- As the state of Texas faces a rapid influx of Bitcoin mining operations, its electrical infrastructure will have to support the industry’s expected 5,000 megawatts (MW) of additional power demands by 2023 – Investing.
- Glassnode’s latest weekly on-chain report indicated that long-term holders of Bitcoin (BTC) are at a multi-year high and markets are not yet saturated with profit-taking – Investing.
- SAITech, a Eurasia-based Bitcoin mining operator with headquarters in Singapore, seeks to recycle the waste energy from mining for use in residential, agricultural, and industrial applications – Investing.
- Mobile cloud platform company Phunware Inc told investors Monday that it has acquired a further 398 Bitcoin for approximately $23.8 million – Investing.
- El Salvador continues to lead the Bitcoin (BTC) adoption drive as President Nayib Bukele announces the launch of Bitcoin City, which will be funded initially by $1 billion Bitcoin bonds – Investing.
Technical View:
- The BTC falls on Tuesday and remains well supported below $60,000 mark.
- The pair made intraday high at $57,260 and low at $56,000 mark.
- Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being.
- A sustained close above $57,450 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $55,900 will check further supports.
| SUPPORTS | RESISTANCES |
| $55,900 | $57,450 |
| $55,610 | $57,780 |
| $55,080 | $58,200 |
| $54,780 | $58,650 |
| $54,400 | $58,800 |
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