A Daily Outlook: BTC/USD; Oct 22, 2021

Top 5 Headlines on Digital Currency:

  • Walmart has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe to install 200 Bitcoin ATMs in its stores across the U.S. – Investing.
  • The electric car company reported a bitcoin-related impairment of $51 million in the quarter. Meanwhile, CEO Elon Musk tweeted a meme showing the price of bitcoin at $69K and ether at $4.2K – Investing.
  • The Houston Firefighters Relief and Retirement Fund (HFRRF) has hopped on the cryptocurrency bandwagon by making a $25 million investment in BTC and ETH. The allocation became possible through a partnership with New York Digital Investment Group – Investing.
  • The U.S. Securities and Exchange Commission’s (SEC) approval of the first U.S. bitcoin-linked ETF, The ProShares Bitcoin Strategy ETF (BITO), on October 19 is a milestone for cryptocurrencies – Investing.
  • Gold is failing to perform as an inflation hedge, prompting investors to rotate into BTC – JPMorgan strategists said – Investing.

Technical View:

  • The BTC spiked down sharply in previous session and remains well supported above $62,000 mark.
  • The pair made intraday high at $63,346 and low at $62,136 mark.
  • Today a day is up while H1 chart with triple EMA suggests bearish trend for the time being.
  • A sustained close above $63,670 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $61,750 will check further supports.

$61,750 $67,390
$61,080 $67,910
$60,710 $68,250
$60,280 $68,400
$59,800 $68,780

Take a look and do trade wisely!
Good Luck

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