Crypto Industry News:
Twitter may soon allow users to donate to other followers with Bitcoin after the "Tip Jar" feature update, according to a MacRumors report.
Code in Twitter's latest beta suggests that BTC support will be rolled out to the platform's tip service, which was launched in May this year. The update indicates that users will receive a Bitcoin tutorial, including details on the Lightning Network and unprotected wallets. It also informs users that a Strike account is required to use this feature.
Integration between the cryptocurrency and the social media platform has long been an area of interest for the crypto community, given Bitcoin's endorsement from Twitter founder Jack Dorsey.
Twitter also recently posted jobs in the Payments department for a solicitor and chief compliance officer who are experienced in cryptocurrencies. The Chief Compliance Officer for Payments will liaise with legal counsel and review laws, standards, and regulations that may apply to Twitter products. So basically everything that has to do with crypto in these areas.
Technical Market Outlook
The BTC/USD pair has been seen moving towards the last swing high in impulsive fashion. The nearest technical resistance is seen at the level of $50,456 (last week high). The key short-term technical support is seen at $46,719 and $46,209 (last week lows). On the higher time frame chart than H4, the bulls are having problems with the level of $51,189, which is the 61% Fibonacci retracement of the whole move down.
Weekly Pivot Points:
WR3 - $54,910
WR2 - $52,718
WR1 - $50,895
Weekly Pivot - $48,630
WS1 - $46,765
WS2 - $43,987
WS3 - $42,007
Trading Outlook:
The bulls are still in control of the Bitcoin market, so the up trend continues and the next long term target for Bitcoin is seen at the level of $70,000. The next mid-term target is seen at the level of $51,189, which is the 61% Fibonacci retracement of the whole move down. This scenario is valid as long as the level of $30,000 is clearly broken on the daily time frame chart (daily candle close below $30k).
