BTC/USD is trading at $54524.8, 0.29% up since Monday. A strong reversal can be seen in Bitcoin after sliding down to lower levels of $48K in last week amid rising volatility & trading volume. Earlier, the U.S President Je Biden proposed to raise the taxation rate to 40% for the wealthiest Americans to meet the social expenses which may force traders & investors to limit their trading in digital assets & hence, the BTC/USD dragged down. Besides this, the China’s Xinjiang region for Bitcoin mining & operations have suffered an electrical grid blackout due to coal mine explosion which led the BTC/USD to plunge till $50K. Buying bias may be recommended on daily basis in BTC/USD.

BCH/USD is trading at $862.89, 0.21% up since previous day close. Like Bitcoin, the Bitcoin Cash (BCH) followed the rally & moved on higher side taking a support of Fibonacci Expansion level 61.8. Last week, the U.S Joe Biden proposed to raise tax rate for wealthiest Americans to 40% in order to meet social plans which prohibits trading in digital asset; soaring down the digital currencies. However, the growing hopes over global recovery & u[coming Fed meet remains supportive factors for BCH/USD.  As seen in the chart, the BCH/USD is on the verge of crossing over the MA (10) & MA (20) & also, the RSI line reversed upside from mid-level 50. This indicates further buying in BCH/USD with a target of $935 levels.