A Daily Outlook: BTC/USD; Sept 06, 2021

Top 5 Headlines on Digital Currency:

  • El Salvador’s Bitcoin Law is facing a lot of resistance from citizens as protesters flood the street with hopes of repelling the decision. Meanwhile, the country’s Legislative Assembly has approved a $150 million Bitcoin Trust to build the infrastructure to support its transition to accepting Bitcoin as legal tender – Investing.
  • Several oil producers and bitcoin miners met last week in Texas to talk about the possibilities of on-site mining that Texas energy producers could bring for them – Investing.
  • Bloomberg Intelligence senior commodity strategist Mike McGlone has affirmed his bitcoin price prediction of $100K, seeing $5K for ethereum as the path of leas
  • On Aug. 30, it was reported that the Central Bank of Nigeria issued preliminary guidelines for its proposed E-Naira digital currency. On the following day, news broke that Barbados-based fintech firm Bitt Inc. signed on to work as the technical partner for the CBNs e-naira rollout – Investing.
  • Twitter to allow users to add BTC and ETH addresses to profiles, per leaked screenshots – Investing.

Technical View:

  • The BTC trades in stiff boundaries on Monday and stabilizes above $51,000 mark.
  • The pair made intraday high at $52,030 and low at $51,460 mark.
  • Today a day chart and H1 chart with triple EMA suggests bullish Trend for the time being.
  • A sustained close above $51,900 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $51,600 will check further supports.
$51,600 $51,900
$51,100 $52,100
$50,800 $52,710
$50,280 $53,020
$50,000 $53,400

Take a look and do trade wisely!
Good Luck

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