Crypto Industry News:
One of the most successful tennis players of all time - Serena Williams - has teamed up with Block Inc's money transfer service provider Cash App to ensure that women and people of color continue to have financial access to bitcoin. She spoke of the largest cryptocurrency as an industry leader, calling it a "super strong investment."
The company led by Jack Dorsey - Block - announced cooperation with the tennis superstar at the Miami Bitcoin Conference. Williams expressed her hope that the initiative would give women (who are not as committed to the crypto industry as men) and people of color additional access to Bitcoin opportunities:
"It's important to extend bitcoin to women and people of color".
In addition, the American woman presented herself as a staunch supporter of the basic digital resource. The 23-time winner of the Grand Slam said the limited supply of 21 million BTC coins is its most valuable asset. In her opinion, the world of cryptocurrencies is constantly evolving, but it is mainly Bitcoin that is behind this progress.
It's worth adding that Williams is married to Alexis Ohanian, co-founder of Reddit and a supporter of digital resources. Earlier this year, his company raised $ 500 million to "double" investments in cryptocurrency startups. Earlier, Ohanian revealed that he invested some of his fortune in Ethereum, arguing that it is currently the most promising blockchain protocol in space:
Technical Market Outlook:
The BTC/USD pair has been seen moving lower since the local top was made at the level of $43,371. Only a sustained breakout above the level of $48,200 would change the outlook to more bullish and the down trend could have been terminated. For now the out look is still bearish and the next target for bears is the 61% Fibonacci retracement located at $41,605. The nearest immediate technical resistance is located at $43,371.
Weekly Pivot Points:
WR3 - $50,831
WR2 - $49,471
WR1 - $45,659
Weekly Pivot - $43,872
WS1 - $40,465
WS2 - $38,484
WS3 - $34,936
Trading Outlook:
The market still keeps trying to bounce after over the 60% correction was made since the ATH at the level of $68,998. So far Bitcoin bulls retraced only a 38% of the last wave down and reversed. When this level is clearly broken, the BTC is back to the up trend, otherwise the bearish pressure might push down the BTC towards the level of $29,254.