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Crypto Industry News:
Uber Eats, an online take-away ordering platform launched by Uber in 2014, has just adopted DOGE. The platform accepts Dogecoin in different ways. Crypto meme holders can buy food delivery gift cards or use a BitPay card to pay DOGE like a Fiat.
Uber Eats, Grubhub, and DoorDash are three online food delivery services that do not accept direct cryptocurrency payments. However, this is a turning point for Dogecoin owners as BitPay supports DOGE payments for ordering and delivering food.
The aforementioned payment provider allows you to convert Dogecoin to USD instantly for free. Whenever a user generates a card payment, its acceptance in UberEats is the key to the increasing usability of DOGE.
Acceptance of the "meme crypto" payment is currently growing in the business ecosystem. Over the past few weeks, luxury watchmakers such as Tag Heuer, Hublot, and Breiling have announced their acceptance of DOGE via BitPay.
Technical Market Outlook:
The BTC/USD pair has been capped at the level of $20,727 after a rally from $19,300. The levels above $20k are very close to the local trend line resistance, so the bearish activity is increased around this line. The technical support located at $19,616, $19,765 and $19,817 will now act as a local support for bulls. The larger time frame outlook for Bitcoin remains bearish, however, we have unconfirmed Bullish Engulfing pattern on the Daily time frame chart, so please stay focused and keep an eye on the key technical levels. The bearish pressure might intensify id the bulls will not be able to break out above the short-term trend line resistance seen around the level of $20,500.
Weekly Pivot Points:
WR3 - $23,406
WR2 - $22,585
WR1 - $20,840
Weekly Pivot - $19,685
WS1 - $17,927
WS2 - $16,745
WS3 - $15,083
Trading Outlook:
The down trend on the H4, Daily and Weekly time frames continues. 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.
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