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SpanishA Daily Outlook: BTC/USD; Nov 26, 2021
Top 5 Headlines on Digital Currency:
- South Park, the animated TV series that often tackles topical issues with a comedic twist, showed Bitcoin being used as a mainstream means of payment in the not too distant future – Investing.
- The migration of Bitcoin miners from China into Kazakhstan has caused an energy crunch in the Central Asian country – Investing.
- Cryptocurrency groups in Nigeria might be taking their battle against the government’s unclear crypto policies to the legal front – Investing.
- Regulatory discussions in India around a crypto ban caused panic selling on major crypto exchange WazirX, resulting in a massive price drop for leading cryptocurrencies, including Bitcoin (BTC) and Ether (ETH) – Investing.
- Taking a cue from China, Norway may be the next country to hit hard on Bitcoin mining operations. The Scandinavian country has expressed its concerns over the potential environmental impact of crypto mining activities – Investing.
Technical View:
- The BTC exhibits range bound movement and remains well supported above $57,000 mark.
- The pair made intraday high at $59,207 and low at $57,482 mark.
- Today a day chart and H1 chart with triple EMA suggest up trend for the time being.
- A sustained close above $59,500 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $55,900 will check further supports.
| SUPPORTS | RESISTANCES |
| $55,900 | $59,550 |
| $55,610 | $59,900 |
| $55,080 | $60,250 |
| $54,780 | $60,720 |
| $54,400 | $61,110 |
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