Gtag:

BTC Back Above $48,000 mark, Does it Surpass $50,000 in Near Future?; Sept 16, 2021

Top 5 Headlines on Digital Currency:

  • Multinational financial services firm Fidelity Investments has pressed the United States Securities and Exchange Commission to approve its Bitcoin exchange-traded fund (ETF) – Investing.
  • The list of top ten cryptocurrencies by market cap is dramatically different these days than it was several years ago. Bitcoin and Ethereum still remain number one and two, respectively, but the rest of the list is a far cry from what it used to be – Investing.
  • Maxime Bernier, a former cabinet minister nicknamed “Mad Max” and the leader of the People’s Party of Canada (PPC), says he supports bitcoin and cryptocurrencies. “I hate how central banks are destroying our money and economy … cryptos are another new and innovative way to counter this that should be encouraged,” he said – Investing.
  • Africa is the undisputed global champ in crypto adoption, with growth exceeding 1200% in the last year, enough for its countries to dethrone part of last year’s Top 10 of most crypto-friendly nations – Investing.
  • Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, believes that if bitcoin is “really successful,” the regulators will “kill it,” reiterating his previous concerns of governments banning cryptocurrencies. Nonetheless, he sees bitcoin as a good alternative to cash and owns some – Investing.

Technical View:

  • The BTC strengthens gradually against U.S. dollar and trading above $48,000 mark.
  • The pair made intraday high at $48,505 and low at $47,344 mark.
  • Today a day chart and H1 chart with triple EMA suggests bullish trend for the time being.
  • A sustained close above $49,100 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $46,100 will check further supports.
SUPPORTS RESISTANCES
$46,100 $53,400
$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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