A Daily Outlook: BTC/USD; Sept 17, 2021

Top 5 Headlines on Digital Currency:

  • A group of protesters in El Salvador recently set fire to a Bitcoin ATM as part of a demonstration against President Nayib Bukele’s recent policies, including the adoption of BTC as legal monetary tender – Investing.
  • Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing BTC as legal tender nationwide on Sept 7 – Investing.
  • The billionaire fund manager believes cryptocurrencies could be a transformational space “like the internet.” – Investing.
  • The cybersecurity firm Bitdefender has released a free tool to decrypt files that were encrypted by the infamous REvil ransomware – Investing.
  • Swiss Bank Dukascopy predicts a new high for Bitcoin by mid – late November – Investing.

Technical View:

  • The BTC exhibits range bound movement on Friday and consolidates around $48,000 mark.
  • The pair made intraday high at $48,179 and low at $47,471 mark.
  • Today a day chart and H1 chart with triple EMA suggests bullish trend for the time being.
  • A sustained close above $48,400 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $47,000 will check further supports.
$46,100 $48,650
$45,810 $49,100
$45,400 $49,650
$45,100 $50,200
$46,500 $50,750

Take a look and do trade wisely!
Good Luck

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