A BTC Dropped Drastically During European Time, What’s Next?; Sept 07, 2021

Top 5 Headlines on Digital Currency:

  • U.S. headquartered digital currency exchange CrossTower has set up a local unit in India and launched a trading platform to capture the growing domestic crypto market even though the fate of cryptocurrency in India is still unclear – Reuters.
  • The day before bitcoin is officially declared legal tender in El Salvador, the president announces that the country has bought 200 BTC and they plan on buying “a lot more.” – Investing.
  • Ricardo Salina Pliego, CEO of Grupo Salinas and the face behind the financial and retailing giant Grupo Elektra has announced that he plans to integrate the Bitcoin Lightning Network into the chain of Elektra Stores – Investing.
  • Last week, Bitcoin miners and oil producers met in Houston to discuss the possible opportunities for on-site digital mining. They meet in-vehicle warehouse, which served as their point of encounter to examine these opportunities – Investing.
  • Vietnam has recently started recording high demand for crypto mining equipment as more people join the sector to mine cryptocurrencies like bitcoin, ether, and others – Investing.

Technical View:

  • The BTC appreciated sharply during early hours of Asia but reverses previous gain and just made fresh intraday low at $51,149 mark. .
  • The pair made intraday high at $52,956 and low at $51,149 mark.
  • Today a day chart and H1 chart with triple EMA suggests bullish Trend for the time being.
  • A sustained close above $52,700 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $50,800 will check further supports.
$51,050 $53,400
$50,800 $53,680
$50,280 $53,899
$50,100 $54,360
$48,700 $54,750


Take a look and do trade wisely!
Good Luck

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