BTC Recovers Slightly from Previous Losses, A Consistent Close above $45,800 on H1 chart Requires for the Upside Rally; Aug 18, 2021

Top 5 Headlines on Digital Currency:

  • According to data from CoinShares, first reported on by Livemint, Cardano investment products saw $1.3 million in inflows, while Bitcoin and Ethereum focused products saw outflows of over $23 million, with BTC products accounting for $22 million outflows – Investing.
  • Fidelity’s plan to corner the cryptocurrency market appears to be more ambitious than previously imagined, as the asset manager looks to provide more institutional pathways to digital assets – Investing.
  • Lionel Messi, the famed soccer player, has become the latest athlete to accept at least part of his salary in cryptocurrency – Investing.
  • America’s largest retailer Walmart (NYSE:WMT) has posted vacancies for cryptocurrency-related roles, indicating its interest in adopting digital currencies – Investing.
  • El Salvador’s decision to adopt Bitcoin as legal tender could have adverse effects on insurer’s credit, according to ratings by Fitch – Investing.

Technical View:

  • The BTC recovers from previous losses and remains well supported above $45,000 mark.
  • The pair made intraday high at $45,394 and low at $44,218 mark.
  • Today a day chart is up but H1 chart with triple EMA suggests bearish Trend for the time being.
  • A sustained close above $45,800 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $44,400 will check further supports.
$44,200 $45,800
$44,000 $46,250
$43,680 $46,710
$43,100 $47,050
$42,880 $47,260

Take a look and do trade wisely!
Good Luck

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