However, if the market slid beneath the critical support pivot in 1795, bullion will fell into a lower stage.

Resistance: 1.3665, 1.3745, 1.3896

Support: 1.36

AUDUSD (4- Hour Chart)

Aussie once slipped to the daily lowest point at 0.73, yet recovery to an intraday high at 0.736 around afterward. All thanks to risk appetite improved in global shares market, pan-commodities weathering creep up the momentum that dwindles stress to commodities-link pairs as well. However, Aussie is still very susceptible to variant contagious at the current stage.

From the technical perspective, the RSI indicator ratchets up to 47 figures from over sought nadir, suggesting a natural momentum for the short term. For moving average side, 15 and 60 long SMA continue it descending, yet short one slowly turns into flat momentum.


That’s not exactly true.What Elon Musk and Jack Dorsey Are Missing About Bitcoin and Green Energy

A trio of Jack Dorsey, Cathie Wood and Elon Musk are promoting the idea that Bitcoin mining can be good for the planet actually. That’s not exactly true.


Square says Bitcoin is key to green energy, contradicts Ripple co

Led by founder and CEO Jack Dorsey, Square says Bitcoin’s future is in green energy. And Tesla CEO Elon Musk agrees with this view.

Square says Bitcoin is key to green energy, contradicts Ripple co

Led by founder and CEO Jack Dorsey, Square says Bitcoin’s future is in green energy.

Market Focus

After a bruising selloff driven by worries over a peak in earnings and a slowdown in growth momentum, the S&P 500 notched its biggest back-to-back advance in two months. Once again, the gains were led by companies that stand to benefit the most from a reopening of the economy, such as a commodity, financial and industrial shares. Meanwhile, Dow Jones rose 0.83%, or 286.01 to 34,798.00, and Nasdaq climbed 0.92%, or 133.08 to 14,631.95.

Elon Musk’s love affair with Bitcoin runs deeper than previously known.
Speaking at “The B Word” conference hosted by the Crypto Council for Innovation, Musk discussed the outlook for Bitcoin with fellow backers Cathie Wood, head of Ark Investment Management, and Jack Dorsey, CEO of Twitter Inc. and Square Inc.

Musk said that he owns Bitcoin, Ethereum, and Dogecoin, while Tesla and SpaceX both exclusively own Bitcoin.

Elon musk jack dorsey incentivises renewable energy

US government bond yields were sharply up, also signaling decreasing demand for safety.

The euro pair hovers around the 1.1800 level, as caution prevails ahead of the European Central Bank monetary policy decision. The ECB is widely anticipated to maintain its monetary policy unchanged, and the general perception is that policymakers will maintain a dovish stance.

Cable is up to the 1.3700 price zone despite persistent Brexit tensions. The EU rejected the UK’s demand for a new approach to the Northern Ireland Protocol.

UK Prime Minister Boris Johnson said that there are practical steps they can take to do that, but it does not seem the Union will convene to any change.

Commodity-linked currencies were also up, with Aussie being the weakest amid discouraging local retail sales figures.

I would like to see Bitcoin succeed,” Musk said. “If the price of Bitcoin goes down, I lose money. I might pump but don’t dump.”

Musk said that Tesla would most likely resume accepting Bitcoin for purchases once mining becomes less environmentally taxing. “It looks like Bitcoin is shifting more toward renewables,” Musk said. “I would want to do a little bit more diligence to confirm the percentage of renewable energy usage is at or above 50%.”

As for Tesla, Musk noted that the company’s bank balances in Europe have negative interest rates, saying it “drives me crazy.”

“We should move that into Bitcoin,” he said.

Main Pairs Movement

The market mood improved; the dollar shed some ground but with no critical level being broken. Greenback edged slightly lower against most major rivals as global indexes closed in the green.

The researchers explained that the divergence between renewable energy production and electricity demand could be mitigated by creating an ecosystem “where solar/wind, batteries, and Bitcoin mining co-exist to form a green grid that runs almost exclusively on renewable energy.”

Not only is this doable, it is doable without jeopardising the sector’s profitability.

Following this line of reasoning, the authors go on to describe the bitcoin mining sector as “an energy buyer of last resort” that can be situated anywhere on the planet.

The paper asserts the geographical limitations of renewable power plans, which typically results in energy supply being “either abundant or non-existent”.

The end result is significantly more power than society typically needs for a few hours per day and not nearly enough when demand spikes.

But their opinions are not shared with those more cynical about the cryptocurrency’s impact.Jack Dorsey and Elon Musk agree on bitcoin’s green credentials

But their opinions are not shared with those more cynical about the cryptocurrency’s impact.

What Elon Musk and Jack Dorsey Are Missing About Bitcoin and Green Energy

Jack Dorsey, Cathie Wood and Elon Musk are promoting idea that Bitcoin mining can be good for planet—but that’s not exactly true.

What Elon Musk and Jack Dorsey Are Missing About Bitcoin and Green Energy

Jack Dorsey, Cathie Wood and Elon Musk are promoting idea that Bitcoin mining can be good for planet—but that’s not exactly true.

What Elon Musk and Jack Dorsey Are Missing About Bitcoin and Green Energy

A trio of Jack Dorsey, Cathie Wood and Elon Musk are promoting the idea that Bitcoin mining can be good for the planet actually.

Phil Geiger pointed out that “bitcoin mining rewards the most energy efficient miners with the most profit”.

“Mining is about maximising the number of hashes (computations) per kW of electricity,” he wrote.

“Currently, the most efficient way to generate the highest hashes/k is through the use of solar energy and hydro-electric, because those are the cheapest ways to produce electricity.”

Sources from: BBC News

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Gold steadied around $1,800 an ounce after resurging in recent weeks but failed to push much higher even with TIPS bond yields scuttle to under negative territory. Investment demand for bullion has stayed on the sideline so far, with outflows seen from ETF this fund.

For the technical aspect, the RSI indicator closes around 43 figures which suggests a slightly bearish signal, but it also heading to the natural area asymptotically. For moving average side, 15 long SMA indicator shows get rid of the headwind movement and turn flat action.
On the other hand, 60 long SMA indicator remaining a slight upside but seems flat movement. All in all, we foresee the market volatility will continue curb by price action currently.

If miners could capture just 20% of wind and solar energy that is delayed on US power grids, BCEI projects that global mining capacity could triple.

Additionally, costs for renewable energy would also see a rapid decline. This is because “bitcoin and energy markets are converging” and BCEI believes that “the energy asset owners of today will likely become the miners of tomorrow”.

However, the argument could be viewed as a justification for bitcoin’s energy consumption.

This begs the question: how much is pristine money – which has never existed in the history of mankind – worth; the answer of which could be found in the trade-off with energy consumption as the network grows.

Subscribeto the semi-weekly newsletter for regular insight into bitcoin and crypto. Go on.

Dorsey’s digital payment services company Square and global asset manegement firm ARK Invest have jointly released a white paper on “Bitcoin as Key to an Abundant, Clean Energy Future”.

In a tweet on Wednesday, Dorsey said: “Bitcoin incentivises renewable energy.”

Musk replied: “True,” after tweeting that starting next week,”Tesla Solar Panels and Solar Roof will only be sold as an integrated product ‘with’ Tesla Powerwall battery.

In the white paper, Square and ARK Invest said that “the energy asset owners of today can become the essential bitcoin miners of tomorrow”.

The ‘Bitcoin Clean Energy Initiative’ has developed a short research paper as a “starting point to share our vision for how bitcoin mining – in conjunction with renewable energy and storage – is especially well suited to accelerate

the energy transition”.

On the downside, 0.73 shows it is desirable as compelling support in the current stage while the market has tested it for times. Hence, if the market turn to a negative way again and penetrate the mainstay support, it will usher in another tamp down market momentum.

Resistance: 0.7415, 0.7492

Support: 0.7323, 0.73

EURUSD (4- Hour Chart)

The European Central Bank starts a potentially heated two-day meeting on Wednesday, yet currency options traders see a very low risk of market turmoil. Disagreements within the governing council may be key for realized volatility around chairman press conferences.
As of writing, euro fiber is trading at 1.18 around and up some .2% into the market closing. Other than this, the safe-haven dollar fell back from the three-month highs as the U.S.

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