Crypto Industry News:
The gap between American banks and their foreign counterparts in the approach to the cryptocurrency industry is constantly widening. A striking example is the PostFinance bank, which is wholly owned by the Swiss government. It is currently in the process of launching cryptocurrency services for its clients.
PostFinance, is one of the largest retail banks in Switzerland. Just announced a new partnership with Sygnum, the world's first digital asset bank. It intends to offer its customers "a range of regulated digital asset banking services through Sygnum's B2B banking platform."
Thanks to the partnership, PostFinance will be able to offer its customers digital products and services at the banking level. The bank's customers will be able to buy, store and sell several top-tier cryptocurrencies, including Bitcoin and Ethereum.
Technical Market Outlook:
The BTC/USD pair has been seen consolidating inside a narrow zone located between the levels of $28,878 - $29,184 (swing high) for the last 18 days and the bulls still do not heave enough momentum to test the psychological level of $30,000. The 50 and 100 moving averages are now in line on the very same level, so the bears took the opportunity and broke below them. The next target for bears is seen at the level of $27,533 ( 31st March low) and then at $26,620 (28th March low). The weak and negative momentum on the H4 time frame chart support the short-term bearish outlook for Bitcoin.
Weekly Pivot Points:
WR3 - $29,056
WR2 - $28,427
WR1 - $28,051
Weekly Pivot - $27,798
WS1 - $27,422
WS2 - $27,169
WS3 - $26,540
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.
