A Daily Outlook: BTC/USD; Nov 25, 2021

Top 5 Headlines on Digital Currency:

  • Investment funds from major U.S. investment bank Morgan Stanley have increased their exposure to Bitcoin through purchases of shares of Grayscale Bitcoin Trust – Investing.
  • Blockchain data and intelligence provider, Glassnode, has reported that the number of Bitcoin addresses with a non-zero balance has reached a new all-time high of 38.76 million addresses – Investing.
  • Griffin Art, a TechRate-audited GameFi platform, is about to release the full version of its NFT marketplace and the demo version of the Griffin Land mobile game, a recent update reveals – Investing.
  • According to the International Monetary Fund (IMF), El Salvador could be on a path to financial instability following its decision to make Bitcoin legal tender. Although the IMF acknowledged that Bitcoin and other digital assets could facilitate efficient payments, it warned that making them a legal tender could disrupt the financial system – Investing.
  • The Indian Government is preparing to regulate private cryptos with a new bill on November 29 – Investing.

Technical View:

  • The BTC moves in rigid boundaries and consolidates around $57,000 mark.
  • The pair made intraday high at $58,300 and low at $57,044 mark.
  • Today a day chart and H1 chart with triple EMA suggest up trend for the time being.
  • A sustained close above $58,900 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $55,900 will check further supports.

$55,900 $58,900
$55,610 $59,200
$55,080 $59,550
$54,780 $59,900
$54,400 $60,250

Take a look and do trade wisely!
Good Luck

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