A Daily Outlook: BTC/USD; Dec 06, 2021

Top 5 Headlines on Digital Currency:

  • According to data from Coinglass (formerly Bybt), positions worth around $2.4 billion have been liquidated over weekend, with BTC representing over 42% of them – Investing.
  • Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000 after losing over 15% in market value – Investing.
  • Crypto exchange platform BitMart was hacked and suffered an almost $200M-loss in a hot wallet compromise that was hosted on the Binance Smart Chain (BSC) AND Ethereum (ETH) blockchain – Investing.
  • Crypto currency expert and White House adviser Whit Gibbs shows that Joe Biden’s government is mining bitcoins – Investing.
  • South Korean parliament likely to suspend a planned 20 percent tax on annual profits from Digital Asset investments exceeding 2.5 million won for another year – Investing.

Technical View:

  • The BTC remained extremely volatile over the weekend and touched $41,967 mark.
  • Today also BTC starts a new day on a lower note and stabilizes below $50,000 mark.
  • The pair made intraday high at $49,525 and low at $47,825 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $50,400 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $47,800 will check further supports.
$47,800 $50,400
$46,500 $50,980
$46,100 $51,320
$45,700 $51,700
$44,900 $52,050

Take a look and do trade wisely!
Good Luck

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