Crypto Industry News:

Ledger, a French cryptocurrency wallet maker, announced a partnership with The Sandbox. Its fruit is to be Ledgerverse - dedicated cyberspace in the Metaverse, which will educate people about the security of cryptocurrencies. Users will learn how to protect their digital assets at a time when hacker attacks on the blockchain market are increasingly occurring. What's more, the cooperation with The Sandbox involves the creation of a game called "The School of Block". Its purpose is to make people aware of the dangers that lurk in the world of cryptocurrencies.

The participants of the game will fight cybercrime, for which they will receive exclusive NFT rewards in the game. Ledgerverse is Ledger's first Metaverse initiative to be developed in collaboration with The Sandbox and Swipe Back, the Metaverse creative agency. Ledgerverse will be a digital land in the Metaverse Sandbox where players must navigate the map using their cryptocurrency security knowledge.

Technical Market Outlook:

The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the line. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410, but so far the highest level hit by bulls was $21,903. Waiting game continues.

Weekly Pivot Points:

WR3 - $22,059

WR2 - $21,713

WR1 - $21,486

Weekly Pivot - $21,368

WS1 - $21,140

WS2 - $21,022

WS3 - $20,677

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.

Relevance up to 08:00 2022-08-27 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.

Read more: https://www.instaforex.eu/forex_analysis/290115