BTC Back Below $65,000 mark, What’s Next?; Nov 11, 2021

Top 5 Headlines on Digital Currency:

  • City of Philadelphia Chief Innovation Officer Mark Wheeler announced an initiative to bring blockchain technology to city government on Monday. The project has invited people working in the blockchain and smart contracts space to contact staff working on the project to see how crypto technology could be useful within municipal government – Investing.
  • New York is about to get its native cryptocurrency as Mayor-elect Eric Adams approves of this community-led proposal. The mining for NYCcoin will commence on November 10 at around 3:00 PM ET – Investing.
  • Zimbabwe’s minister of information publicly dismissed ongoing rumors about the country considering the adoption of cryptocurrencies and Bitcoin (BTC). Rather, Minister Monica Mutsvangwa clarified that the government of Zimbabwe is keen to experiment with a central banking digital currency – Investing.
  • Leading smart exchange ecosystem, Unizen together with ZenX, CeDeFi incubator, and ecosystem is pleased to announce their partnership with Geometric Energy Corporation (GEC). Notably, the firms liaised to back the first crypto-funded mission to the moon to build and launch DOGE-1 – Investing.
  • The total market cap of the cryptocurrency industry is inching closer to a new all-time high of $3 trillion as Bitcoin and several altcoins record massive gains – Investing.

Technical View:

  • The BTC spiked down sharply and hovers around $65,000 mark.
  • The pair made intraday high at $65,408 and low at $64,140 mark.
  • Today a day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $65,789 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $64,200 will check further supports.

$64,200 $69,000
$63,850 $69,336
$63,410 $69,846
$63,100 $70,612
$62,850 $71,057

Take a look and do trade wisely!
Good Luck

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