25.09.202309:29 Forex Analysis & Reviews: Technical Analysis of BTC/USD for September 25, 2023

Crypto Industry News:

Prince Philip of Serbia is trying to pave the way for the widespread adoption of bitcoin in his country. So will the first European country follow the path previously set by El Salvador?

Prince Philip is an advocate of the widespread use of bitcoin. His influence in the country allows him to help innovative projects in the blockchain market. There are many indications that he believes that bitcoin will ultimately become an integral part of his country's financial system. This could not only strengthen Serbia's position, but also provide its citizens with new payment options.

The prince's policy may bring to mind what President Nayib Bukele is doing in El Salvador, who made his country accept bitcoin as legal tender. This happened in 2021. It attracted international attention, sparked discussions about the future of bitcoin in mainstream economies, and boosted the country's tourism.

An important project in Prince Philip's concept is Jan3 and his Aqua Wallet. This user-friendly digital asset wallet provides a safe and convenient way to store, send and receive bitcoins. Thanks to its intuitive interface and solid security, Aqua Wallet encourages many people to enter the world of blockchain.

Technical Market Outlook:

The BTC/USD pair trades below the technical resistance seen at the level of $26,446. The local low was made at the level of $26,026, but the hit the extremely oversold market conditions on the H4 time frame chart, so a pull-back higher is on the table. The key technical support is seen at the level of $25,000 and the intraday technical resistance is seen at the level of $26,367.

Weekly Pivot Points:

WR3 - $27,094

WR2 - $26,626

WR1 - $26,344

Weekly Pivot - $26,153

WS1 - $25,874

WS2 - $25,682

WS3 - $25,212

Trading Outlook:

The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The last pull-back has reached the 38% Fibonacci retracement and the market is ready to continue the up move. 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.