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BTC Jumps above $48,000 mark During Early Asian Hours, Emerging Economies Turns Positive On BTC; Aug 16, 2021

Top 5 Headlines on Digital Currency:

  • New filings with the United States Securities and Exchange Commission, or SEC, reveal that four wealth management companies have acquired shares of Grayscale’s Bitcoin Investment Trust, offering further evidence of institutional adoption of digital assets – Investing.
  • Infrastructure bill roughly $1 trillion passes U.S. Senate without clarification on crypto – Investing.
  • Emerging economies like Vietnam, India and Indonesia are leading the charge when it comes to cryptocurrency adoption, underscoring important use cases for digital assets tied to remittances and financial inclusion – Investing.
  • Bitcoin (BTC) rewards company GoSats has launched a new cashback rewards card for customers in India, potentially setting the stage for wider mainstream adoption of digital assets in the world’s second-most populous country – Investing.
  • The chairman and CEO of MicroStrategy, Michael Saylor, said Bitcoin is hope for Canada – Investing.

Technical View:

  • The BTC rises gradually on Monday and stabilizes above $47,000 mark.
  • The pair made intraday high at $48,075 and low at $46,803 mark.
  • Today a day chart and H1 chart with triple EMA suggests Bullish Trend for the time being.
  • A sustained close above $48,100 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $45,400 will check further supports.
SUPPORTS RESISTANCES
$45,400 $48,320
$45,210 $48,700
$45,050 $49,020
$44,700 $49,440
$44,200 $49,690

Take a look and do trade wisely!
Good Luck

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