A Daily Outlook: BTC/USD; Aug 26, 2021

Top 5 Headlines on Digital Currency:

  • El Salvador will become the first country to adopt bitcoin as a national currency – Investing.
  • According to data from Bitcoin Treasuries, companies that hold bitcoin on their balance sheets now control up to 1,660,473 BTC. This accounts for almost 8% of Bitcoin’s total supply – Investing.
  • Morgan Stanley has been investing more and more in the Grayscale Bitcoin Trust, America’s favorite crypto product for traditional investors – Investing.
  • Powerbridge Technologies, a SaaS solutions and blockchain applications provider, has arranged the purchase of 5,600 Bitcoin and Ether mining rigs for an undisclosed amount – Investing.
  • Wall Street giant Citigroup is eager as they await regulatory approval to start offering bitcoin (BTC, -3.59%) futures trading contracts on the Chicago Mercantile Exchange (CME) – Investing.

Technical View:

  • The BTC dropped sharply on Thursday and slips back below $47,000 mark.
  • The pair made intraday high at $49,387 and low at $46,550 mark.
  • Today a day chart is up but H1 chart with triple EMA suggests bearish Trend for the time being.
  • A sustained close above $49,400 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $46,550 will check further supports.
$46,550 $49,400
$46,030 $49,850
$45,750 $50,100
$45,380 $50,400
$45,020 $50,820

Take a look and do trade wisely!
Good Luck

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