BTC Strengthens Sharply on Increasing Global Acceptability; Faces Key Hurdle at $48,100 mark; Aug 20, 2021

Top 5 Headlines on Digital Currency:

  • Filings submitted by the $9 trillion multinational investment manager BlackRock reveal the firm has made significant investments in two leading publicly traded Bitcoin mining firms – Investing.
  • Fireblocks today announced that Jay Clayton, former SEC chairman, is joining them as the newest member of their advisory board. Fireblocks is an Israel-based Bitcoin and Ethereum Custodian and has a valuation that exceeds $2 Billion – Investing.
  • United Wholesale Mortgage announced plans this week to accept cryptocurrency for home loans, in an apparent first for the national mortgage industry – Investing.
  • Global adoption of bitcoin and cryptocurrency has skyrocketed in one year, up over 880%, new Chainalysis data found. The company’s Global Crypto Adoption Index was released yesterday with data from July 2020 to June 2021 to show how active countries worldwide are in Bitcoin – Investing.
  • European payments and transactional services provider Worldline has partnered with Bitcoin Suisse, a Swiss bitcoin services firm, to launch its new omnichannel payment solution. The new service, called WL Crypto Payments, will enable the more than 85,000 merchants in the Worldline network to accept BTC in their point-of-sale (POS) and e-commerce payment gateways – Investing.

Technical View:

  • The BTC reverses previous loss and jumps back above $47,000 mark.
  • The pair made intraday high at $47,418 and low at $46,645 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 $43,900 will check further supports.
$46,574 $48,100
$46,300 $48,450
$45,912 $48,780
$45,500 $49,200
$45,100 $49,680

Take a look and do trade wisely!
Good Luck

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