Bitcoin Regains the Strength to Trade Back above $50,000 mark, What’s Next?; Sept 02, 2021

Top 5 Headlines on Digital Currency:

  • Hoskinson, a co-founder of Ethereum expressed his expectation that “cryptocurrencies will play a larger role in Afghanistan in the war for and against the Taliban forces – Investing.
  • Media reports that Bitcoin tipping will be available on Twitter have notably increased buying pressure. This would allow users to reward content creators with Bitcoin – Investing.
  • The leading British financial institution – Standard Chartered – reportedly became the first bank to join the Global Digital Finance (GDF) Patron Board. StanChart, together with the rest of the members, will work together to accelerate the adoption of best practices across the digital assets landscape – Investing.
  • Former US President Donald Trump believes investing in cryptocurrencies is “a disaster waiting to happen.”During an appearance on Fox Business on Tuesday, Trump was questioned about his views on the health of the Wall Street markets, the current administration’s progress, and the potential of Bitcoin (BTC) and the cryptocurrency market – Investing.
  • • Cryptocurrencies like Bitcoin (BTC) are getting increasingly popular with Russian investors, apparently displacing traditional investment products, according to a new survey – Investing.

Technical View:

  • The BTC recovers sharply from previous losses and hovers around $50,000 mark.
  • The pair made intraday high at $50,380 and low at $48,625 mark.
  • Today a day chart and H1 chart with triple EMA suggests bullish Trend for the time being.
  • A sustained close above $50,550 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $48,100 will check further supports.
$48,100 $50,550
$47,760 $50,820
$47,310 $51,200
$47,050 $51,600
$46,700 $52,100

Take a look and do trade wisely!
Good Luck

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