Crypto Industry News:
Russian banking giant Sberbank enters cryptocurrency trading. According to the announcement, the bank will start providing services related to crypto assets this month.
Anatoly Popov, vice-chairman of the board of directors of Sberbank, said that the bank is prepared to launch cryptocurrency-related services. Customers will be able to buy, sell and exchange digital goods. The bank will start issuing digital financial asset (DFA) transactions soon.
To paraphrase what Popov wrote in his original post:
"If we're talking about consumers, we anticipate that this feature will be available to them in June Q2. People will be able to trade digital financial assets."
Moscow-based Sberbank hoped to launch an Ethereum-compatible DeFi platform in April, but the debut date has since been pushed back to June.
The bank's investment arm, Sber Asset Management, has announced plans to launch Russia's first blockchain-based exchange-traded fund in December 2021.
Technical Market Outlook:
The BTC/USD pair has made a local high at the level of $26,200 before the bounce was capped and the reversal occurred. The key short them technical resistance is the swing high located at the level of $28,446 and only a sustained breakout above this level would be considered more bullish. The intraday technical resistance is seen at $25,892 and the intraday technical support is seen at $25,641. Please keep an eye on the key short-term technical support seen at the level of $25,442.
Weekly Pivot Points:
WR3 - $26,597
WR2 - $26,192
WR1 - $25,993
Weekly Pivot - $25,787
WS1 - $25,588
WS2 - $25,383
WS3 - $24,978
Trading Outlook:
The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The next target for bulls is seen at the level of $32,350. As long as the level of 19,572 is not clearly violated, there is a chance for a long-term up trend to continue.