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Crypto Industry News:
According to information provided by financial media, financial services provider Mastercard has announced a new partnership with the artificial intelligence company Feedzai.
Mastercard claims that this collaboration aims to enhance the capability of detecting and preventing fraud carried out through cryptocurrency exchanges.
As per the report, Feedzai will be directly integrated with the CipherTrace Armada Mastercard platform, a banking tool for monitoring transactions across thousands of cryptocurrency exchanges to identify fraud and other suspicious activities.
Feedzai's software is designed to identify and block suspicious transactions in "nanoseconds" using artificial intelligence. Data from Feedzai indicates that nearly 40% of fraudulent transactions go directly from bank accounts to cryptocurrency exchanges.
Nuno Sebastio, CEO, and co-founder of Feedzai, stated that this technology "will increase fraud detection, protecting unaware consumers" while also detecting money laundering activities.
"Many banks, thinking they are preventing illegal cryptocurrency transactions, actually only block transactions involving widely recognized and regulated entities in the crypto space, overlooking the rest"– we read.
This announcement comes after Mastercard presented another artificial intelligence-based tool in July, intended to assist banks in combating real-time payment fraud.
The financial services provider has emphasized its presence in the Web3 and cryptocurrency space. Collaborating with major cryptocurrency exchanges like Nexo and Binance, Mastercard introduced cryptocurrency cards.
Mastercard has also recently participated in trials to develop central bank digital currencies (CBDCs) on blockchain networks. On October 12, it announced a successful initiative in collaboration with the Reserve Bank of Australia and the CBDC Digital Finance Collaboration Research Center, involving Cuscal and Mintable.
Technical Market Outlook:
The BTC/USD pair's rebound has been steadily advancing, nearing last week's peak at $38,028, signaling a resurgence of bullish control in the market. Intraday technical support is identified at $36,840, while resistance stands at $37,531. The bulls have set their sights on a next target of $40,000, but breaking through the previous week's high at $38,028 is a prerequisite. Momentum remains robust and positive on the H4 timeframe chart, indicating Bitcoin's readiness to sustain the upward trend.
Weekly Pivot Points:
WR3 - $41,363
WR2 - $39,678
WR1 - $38,135
Weekly Pivot - $36,446
WS1 - $34,906
WS2 - $33,218
WS3 - $31,678
Trading Outlook:
The bulls have successfully breached the pivotal level of $25,442, marking a significant shift in the mid-term outlook for BTC towards a bullish trajectory. The next objective for the bulls is set at $40,000. The potential for a sustained long-term uptrend remains, provided the critical level of $19,572 is not decisively violated.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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