Crypto Industry News:

There is a growing number of universities and educational institutions that include metaverse in their educational programs. Now the University of Nanjing, located in East China, has joined this group. Nanjing University of Information Technology and Technology changes the name of one of its main faculties, the Faculty of Information Engineering, to the "Faculty of Metaverse Engineering". This is to integrate more metaverse courses. According to the sources, this may be the first section of an educational institution in China to contain the word "metaverse".

Mr. Zhigeng, dean of this transformed faculty, said the move will contribute to the university's integration with virtual reality enterprises. Its aim is to better identify the needs of current and future metavers users and train more talents in this regard.

Zhigeng also announced that students will be better qualified to work in three different areas, including smart healthcare, smart education and digital tourism. To develop the university in these segments, the faculty will establish three different working groups: the Metaverse Research Institute, the Smart Meteorological Research Institute, and the Smart Medical Research Institute.

Technical Market Outlook:

The BTC/USD pair breakout had been capped after hitting the supply zone located between the levels of $20,221 - $20,580 Only a sustained breakout above this levels would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are neutral-to-negative and the momentum might be going lower. The nearest technical support is seen at $18,640 and $18,563. The swing low is seen at the level of $18,150.

Weekly Pivot Points:

WR3 - $19,226

WR2 - $18,987

WR1 - $18,829

Weekly Pivot - $18,742

WS1 - $18,587

WS2 - $18,500

WS3 - $18,259

Trading Outlook:

The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. 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. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.