A Daily Outlook: BTC/USD; Dec 28, 2021

The cryptocurrency industry experienced a historical year in 2021, not just in terms of new investors and rising mainstream acceptance, but also the introduction of an array of new investment products. This includes the much-awaited launch of the U.S’ first Bitcoin ETF, which followed years of rallying and provocation by digital asset enthusiasts.

Top 5 Headlines on Digital Currency:

  • Some of the money from El Salvador’s state-issued Chivo wallets is reportedly missing, according to many Salvadorans posting on social media – Investing.
  • In the month following China’s crackdown on miners, the Bitcoin hashrate had almost halved, data from mining pool shows. With less competition from Chinese miners and soaring bitcoin prices, the remaining miners saw returns steadily grow – Investing.
  • Matthew Hougan, the CEO of top crypto asset manager Bitwise, believes that while BITO’s launch is an important moment for the ecosystem as it will signal growth and major capital inflow, it might not be the best product for eager investors – Investing.
  • Bitcoin Capital AG announced the launch of two new ETPs on the Six Swiss Exchange, which will be pioneers in providing the active management of these products – Investing.
  • The FiCAS Active Bitcoin ETP (BTCB) and FiCAS Active Ethereum ETP (ETHB) will be actively managed by crypto asset manager FICAS AG, according to a press release. Investors from Switzerland, Liechtenstein, and the European Union (excluding Hungary) will have access to these products – Investing.

Technical View:

  • The BTC spiked down sharply in previous U.S. session and touches $48,688 mark.
  • The pair made intraday high at $50,719 and low at $48,688 mark.
  • Today a day chart and H1 chart with triple EMA suggests bearish trend for the time being.
  • A sustained close above $51,900 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $49,000 will check further supports.
$49,000 $51,900
$48,550 $52,300
$48,100 $52,710
$47,600 $53,090
$47,200 $53,500

Take a look and do trade wisely!
Good Luck

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