BTC Struggles to Break key Resistance at $46,900 mark, Further Upside Pressure Likely; Aug 13, 2021

Top 5 Headlines on Digital Currency:

  • PNC, the fifth-largest commercial bank in the US, has jumped on the crypto bandwagon – Investing.
  • As the United States continues to weigh out the best ways to include crypto businesses through an infrastructure bill, the state of Wyoming has taken proactive measures to attract Bitcoin (BTC) miners and other crypto businesses to its local jurisdiction – Investing.
  • Today publicly traded HIVE Blockchain announced that it has ordered 1,800 new bitcoin miners from Bitmain Technologies. The deal is the first to emerge from HIVE’s new partnership with Bitmain. The machines will be delivered in 2022 in 6 tranches of 300 miners each – Investing.
  • The first deputy governor at Bank of Russia – Sergey Shvetsov – classified bitcoin as an example of a financial pyramid – Investing.
  • Argentina’s President Alberto Fernandez, suggested that he’s cautiously open to the idea of integrating bitcoin (BTC) and other cryptos into the country’s economy – Investing.

Technical View:

  • The bitcoin appreciates sharply and regains the support above $45,000 mark.
  • The pair made intraday high at $46,657 and low at $44,253 mark.
  • Today a day chart and H1 chart with triple EMA suggests Bullish Trend for the time being.
  • A sustained close above $46,900 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $43,100 will check further supports.
$45,900 $46,950
$45,500 $47,200
$45,050 $47,550
$44,700 $47,990
$44,200 $48,320

Take a look and do trade wisely!
Good Luck

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