A Daily Outlook: BTC/USD: Nov 24, 2021

Top 5 Headlines on Digital Currency:

  • The Republic of Palau wants to explore digital money, and chose Ripple as the best partner to work on a a government-backed USD-pegged stablecoin – Investing.
  • Bitcoin hits new all-time high in Turkey as fiat currency lira goes into freefall – Investing.
  • In Australia, crypto might soon become a part of the country’s financial system. Financial Services Minister Jane Hume supports cryptocurrency and wants Australia not to be left behind the innovation – Investing.
  • At the Bitcoin conference held in 2021, Nayib Bukele, the president of El Salvador, spoke about his intention to make crypto a legal tender in his country. In 2022, he will update the audience about the process of El Salvador adopting Bitcoin and how cryptocurrency is providing vast opportunities to the citizens – Investing.
  • The most recent addition to the Los Angeles Rams’ team roster – wide receiver Odell Beckham Jr. – tweeted on Monday that he will receive the remainder of his salary for the 2021-22 season in Bitcoin – Investing.

Technical View:

  • The enjoys roller coaster movement but remains well supported below $60,000 mark.
  • The pair made intraday high at $57,750 and low at $56,162 mark.
  • Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $57,900 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $55,900 will check further supports.

$55,900 $57,780
$55,610 $58,200
$55,080 $58,650
$54,780 $58,80
$54,400 $59,200

Take a look and do trade wisely!
Good Luck