Crypto Industry News:
Warren Buffett is someone who needs no introduction. Yesterday, at the annual investor conference in Omaha, he commented on the situation in the US economy. He referred, among other things, to the topic of recession and the recently popular theme of artificial intelligence. The billionaire sees threats to the long-term growth of the US economy. He also emphasized the groundbreaking nature of the invention of AI - he considered it a promising but very dangerous tool. She argues that humans as a species will obviously not change because of her development. This means that it can ultimately be used for evil purposes.
Buffett expects that the revenues of the companies he owns will fall in the near future. Will the US economy catch a breather after a long delay of impressive growth? According to the 'Oracle of Omaha' is possible. He said the excellent financial performance of his investment vehicle, Berkshire Hathaway, may not be repeated. Buffett's general tone at the conference seemed to recognize the passing power of the United States. At the same time, he opted for the dollar as the only global reserve currency visible on the horizon.
Technical Market Outlook:
The BTC/USD pair keeps trading lower after the swing high had been done at the level of $31,044. The current correction is more complex and time-consuming, however the bulls are still trying to increase the volatility and break above the intraday technical resistance seen at $30,004. If there is a breakout above the short-term trend line resistance, then the next target is seen at $30,004 and then at $30,561. Only a sustained breakout above the swing high might change the outlook to more bullish, otherwise the market remains in corrective mode and horizontal trend to be continued for next few days. The key technical support levels are $27,670 and $26,972.
Weekly Pivot Points:
WR3 - $29,884
WR2 - $29,080
WR1 - $28,607
Weekly Pivot - $28,315
WS1 - $27,843
WS2 - $27,550
WS3 - $26,786
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.
