Gtag:

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

Top 5 Headlines on Digital Currency:

    Eurex will be listing Europe’s first Bitcoin futures product on September 13th, an initiative from digital asset provider ETC Group – Investing.
  • The US-based NASDAQ-listed business intelligence firm is said to be on a bitcoin acquisition binge. The firm purchased almost 4,000 bitcoins at about $45,294 per bitcoin – Investing.
  • Citigroup Inc is considering offering bitcoin futures trading for some institutional clients, a spokesperson for the bank said on Tuesday, citing increased demand in the cryptocurrency space – Investing.
  • US multinational investment banking giant Citigroup is reportedly considering trading bitcoin futures, stating that it has witnessed an increased interest in BTC from its institutional clients – Investing.
  • Africa has become the continent with the largest volume of bitcoin peer-to-peer trading in the world, according to data from analytics platform UsefulTulips. In the past seven days, the continent’s $18,073,777 negotiated in Local Bitcoins and Paxful surpassed North America, the previous leader, that traded $17,540,134 worth of bitcoin in peer-to-peer platforms – Investing.

Technical View:

  • The BTC slips back below $50,000 mark.
  • The pair made intraday high at $48,619 and low at $47,670 mark.
  • Today a day chart is up but H1 chart with triple EMA suggests bearish Trend for the time being.
  • A sustained close above $48,550 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $47,720 will check further supports.
SUPPORTS RESISTANCES
$47,680 $50,720
$47,100 $51,080
$46,800 $51,420
$46,450 $51,710
$46,000 $52,200

Take a look and do trade wisely!
Good Luck

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