A 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.

$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