Crypto Industry News:
The Bitcoin network has exceeded half a billion transactions since the launch of the cryptocurrency over 11 years ago.
The first Bitcoin transaction took place on January 12, 2009. Satoshi Nakamoto and the late Hal Finney were the first participants in the project. Nakamoto sent Finney 10 Bitcoins as a test, after which the IT specialist himself began to extract cryptocurrency.
Ten months later, on October 5, 2009, the New Liberty Standard set the initial Bitcoin exchange rate against the dollar. At that time, $ 1 was worth 2,300.03 Bitcoins.
The first transaction in the history of exchanging Bitcoin for physical goods took place on May 22, 2010. On the famous Bitcoin Pizza Day for 10,000 Bitcoins, Laszlo Hanyecz bought pizzas. The developer offered Bitcointalk Bitcoin users in exchange for two pizzas. A teenager named Jeremy Sturdivant, nicknamed Jercos, took Bitcoin and sent Hanyecz two pizzas from Papa John's restaurant. This is the first commercial transaction for Bitcoin. After 11 years, Bitcoin reaches another important milestone in handing over half a billion transactions.
Technical Market Overview:
The BTC/USD pair has made another higher high over the weekend and hit the level of $10,133. Since then the market has made a Bearish Engulfing candlestick pattern at the H4 timeframe chart. Some traders have taken profit off the table ad the level of $10k was hit, but now the price is bouncing right back up. The trend is still up despite the extremely overbought market conditions on H4 and Daily timeframes. The nearest important short-term technical support is seen at the level of $9,508 and only if this level is clearly violated the deeper correction can be made.
Weekly Pivot Points:
WR3 - $11,600
WR2 - $10,823
WR1 - $10,568
Weekly Pivot - $9,731
WS1 - $9,416
WS2 - $8,639
WS3 - $8,335
Trading Recommendations:
The market might have made the first impulsive wave up of a higher degree. This strategy is valid as long as the level of $7,582 is not violated. Nevertheless, the larger timeframe trend is still down and all the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend until the level of $10,278 is clearly broken.
