Relevance up to 10:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Crypto Industry News:
Oscar winner Anthony Hopkins has teamed up with Orange Comet, Web3's startup creative studio, to create the actor's first NFT series, the Eternal Collection.
"NFT is a blank canvas for creating art in a new format," Hopkins told reporters at an online press conference. "I'm probably the oldest guy in the NFT community and on social media, which proves that anything is possible at any age," he adds.
According to the 84-year-old actor, metaverse "offers an amazing opportunity to connect with audiences in a completely different way."
The Eternal Collection series is based on visuals inspired by 10 different roles that Hopkins has played in his film career - including Hannibal Lecter from The Silence of the Lambs and Odin in three Marvel films.
According to Dave Broome, Orange Comet CEO, the NFTs will appear in mid-September. Part of the proceeds from the sale of tokens will be donated to a charity designated by Hopkins and his wife Stella Arroyave.
Technical Market Outlook:
The BTC/USD pair had broken below the key short-term technical support located at the level of $23,596. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,679 is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.
Weekly Pivot Points:
WR3 - $22,662
WR2 - $25,629
WR1 - $25,067
Weekly Pivot - $24,597
WS1 - $24,035
WS2 - $23,564
WS3 - $22,532
Trading Outlook:
The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.
