BTC Hits Fresh 5 – Week Low at $55,640 mark, A Dip Till $52,000 mark Likely; Nov 19, 2021

Top 5 Headlines on Digital Currency:

  • Bitcoin inspirations and sentiments are not yet on a flat tire. Co-Founder and CEO of MicroStrategy, Michael Saylor has opined that Bitcoin is the only hope for Turkey – Investing.
  • Charles Evans and Raphael Bostic, Fed governors from Chicago and Atlanta respectively, are among the U.S. central bank’s doves. So, their remarks suggesting mid-2022 rate hikes could be “appropriate” shows that the transitory inflation narrative may be wearing a bit thin – Investing.
  • Bitcoin fell to a one-month low on Friday and was headed for its worst week in six months as traders have booked profits from a long rally and been spooked by an expectation that creditors of collapsed crypto exchange Mt Gox might liquidate their payments – Investing.
  • European stocks retreated from record highs, while government bond yields, oil prices and the euro tumbled on Friday as the specter of a fresh COVID-linked lockdown in Germany and other parts of Europe cast a fresh shadow over the global economy – Investing.
  • Prime Blockchain, also known as PrimeBlock, is reportedly preparing for a public offering in the United States through a special-purpose acquisition company, or SPAC – Investing.

Technical View:

  • The BTC spiked down and touches $55,640 mark in early Asia.
  • The pair made intraday high at $57,528 and low at $55,640 mark.
  • Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $59,200 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $55,900 will check further supports.
$59,500 $59,200
$59,050 $59,720
$58,720 $60,170
$58,310 $60,700
$57,900 $61,180

Take a look and do trade wisely!
Good Luck

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