Crypto Industry News:
A survey by the credit card giant Mastercard revealed that four out of ten people plan to use cryptocurrencies for payments over the next year.
The study, published on May 4, entitled "Consumer Appetite for Digital Payments Growing," covered more than 15,500 people from 18 countries.
It found that millennials are particularly committed to cryptocurrencies, and more than two-thirds or 67% agree they are more open to cryptocurrency than a year ago. In addition, 77% of millennials are interested in learning more about cryptocurrencies, while 75% agree that they would use digital resources if they understood them better.
Millennials are classified by the US Census Bureau as born between 1982 and 2000, which means that their age range in 2021 is 21 to 39.
The move towards expanding access to cryptocurrencies has already begun - in mid-February, Mastercard announced that it would be processing digital asset payments for nearly one billion users that could be used by over 30 million retailers. 40% of total cryptocurrency usage covered all age groups surveyed, with respondents coming from North America, Latin America, the Middle East, Africa, and Asia Pacific.
Mastercard said that while consumer interest in "liquid cryptocurrencies" such as Bitcoin is high, further work is still required to ensure consumer choice, protection and compliance.
Technical Market Outlook:
The BTC/USD pair has bounced higher towards the level of $57,324, which is the short-term technical resistance for bulls. The local high was made at the level of $57,837 and since then the market is consolidating the recent gains. The next target is seen at the level of $58,888 ( May 3rd high) and then at $60,000. The momentum remains positive, but is not that strong anymore, so please keep an eye on the level of $55,674, which is the technical support for the market.
Weekly Pivot Points:
WR3 - $73,274
WR2 - $65,664
WR1 - $62,211
Weekly Pivot - $54,445
WS1 - $50,865
WS2 - $43,394
WS3 - $39,732
Trading Recommendations:
Event despite the recent correction from $64,789 to $47,060 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. Any correction or local pull-back should be used to open the buy orders. This scenario is valid as long as the level of $50,000 is clearly broken on the daily time frame chart (daily candle close below $50k).
