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💳️ Mastercard Enables Crypto 

Word On The Street: Mastercard is enabling non-custodial cryptocurrency wallets that lets users spend crypto while having full control over their assets.

The details:

• Christian Rau, senior vice president of Mastercard’s crypto and fintech enablement, emphasized the importance of self-custody.

• “Through our partnership with Mercuryo, we’re breaking down the barriers between blockchain and traditional payments” - Rau

• Mastercard has partnered with major players in the industry, including stablecoin provider Circle and Coinbase, among others.

Why it matters: Since its initial foray into crypto, These collaborations have helped Mastercard further integrate crypto into its global payments network.

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Other News

Binance Hires UK-Based Accounting Firm Grant Thornton to Advise on Audits. The crypto exchange was previously dropped by auditing firm Mazars which had been helping the firm with a proof-of-reserves report.

Ripple and SEC agree to stay $125M judgment, hinting at appeal. Though the SEC may choose not to appeal the Aug. 7 decision, Ripple’s lawyers requested that 111% of the monetary judgment be placed into a bank account to obtain a stay.

Kamala Harris Is Not Directly Accepting Crypto Donations, a PAC Is, Coinbase Says. A spokesperson for Coinbase said the Future Forward PAC, which is dedicated to supporting Kamala Harris, is accepting crypto donations, rather than her campaign directly.

Nigerian judge pushes Binance exec’s bail hearing to Oct. 9. Detained in Nigeria for more than six months and with reported health problems, Tigran Gambaryan awaits a judge’s decision following another bail application.

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Welcome, Traders!

Traders Corner is the premium section of The Blockstreet Journal. We provide one free report out of appreciation ❤️ 

Reports from our analysts today:

• Bitcoin Technical Analysis (Free)

• XRP Technical Analysis (Paid)

• Chainlink Technical Analysis (Paid)

TRADERS CORNER
💸 Bitcoin Technical Analysis

The current price of Bitcoin is $57,042, with the VWAP line resting slightly lower at $57,037.67. This suggests that the price is hovering just above the VWAP, signaling a slight positive momentum. The price is also inside the Bollinger Bands, though slightly above the midline, indicating a balanced, neutral stance with a potential upward bias.

Trend Analysis:

The recent price action indicates some consolidation, but a new push above $57,000 may hint at the start of a short-term bullish trend. The earlier decline and subsequent bounce show Bitcoin is attempting to recover from a minor downtrend. The Bollinger Bands have started expanding after a tight squeeze, which could imply higher volatility ahead. Buyers are starting to regain control with a strong push after the consolidation phase.

Support and Resistance:

- Support: The lower VWAP band around $56,444 provides a nearby support level, which also aligns with prior consolidation lows. This level is crucial to monitor in case of a pullback.

- Resistance: The $57,600 level aligns with the top of the Bollinger Bands and serves as a near-term resistance. Further upside would need to overcome this resistance to continue the rally.

Scenarios:

- Bullish: If the price continues to hold above $57,000 and breaks through $57,600, we could see a run toward the next psychological resistance level near $58,000. A breakout with volume could confirm a continuation of the bullish trend.

- Bearish: If the price fails to maintain its position above $57,000, it could revisit the $56,444 support level. A break below this could trigger further downside, potentially pushing the price toward $55,800, which was a previous local low.

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