Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
Key Takeaways
- Bitcoin momentarily dropped under $99,000 on Sunday to reach its lowest point in over six weeks following reports that the U.S. had targeted Iranian nuclear facilities, prompting investors to reconsider their stance on high-risk investments.
- Following a significant rise from early April through late May, the cryptocurrency has since stabilized inside a downward-sloping channel.
- Investors ought to keep an eye on key support points for Bitcoin’s price at approximately $100,000 and $92,000, as well as track resistance zones close to $107,000 and $112,000.
Bitcoin ( BTCUSD ) dipped slightly below $99,000 on Sunday following news that the The U.S. had attacked Iranian nuclear facilities. led investors to reconsider their willingness to take on risk.
On Sunday afternoon, the digital currency dropped to as little as $98,200, marking its lowest point since May 8th, due to uncertainties surrounding the geopolitical and economic landscape following the U.S.'s entry into an escalating conflict involving Israel that had worsened throughout the previous week. As of recent trades, Bitcoin has recovered somewhat to around $101,200; however, this figure remains significantly below its peak reached last Monday at nearly $109,000.
Next, we examine Bitcoin's chart more closely and apply technical analysis to pinpoint important price points worthy of attention.
Descending Channel Takes Shape
Following a significant rise from early April through late May, Bitcoin has consolidated within a descending channel .
In the last seven days, the cryptocurrency's value has moved back towards the bottom trendline of the observed pattern. This zone on the graph aligns closely with the significant $100,000 mark from a psychological perspective. Additionally, this decline appears to be associated with recent sell-offs. relative strength index dropping beneath its neutral level, indicating diminishing price strength.
Let’s identify crucial support and resistance levels on Bitcoin’s chart.
Key Support Levels to Watch
Investors ought to keep an eye on the $100,000 mark at first. This zone on the graph is expected to attract considerable interest around the bottom trendline of the declining channel and within a span of associated trade actions extending back to last November.
A firm break below this level might lead to the crypto’s price dropping back down to find support again at roughly $92,000. Traders could look for chances to buy as prices approach this zone. horizontal line that connects a sequence of price action On the graph from November to April.
Important Resistance Levels to Monitor
The initial resistance level to monitor is around $107,000. At this point, close to the upper trendline of the descending channel, the crypto asset might encounter significant selling pressure, as this area also coincides with an important threshold. peaks Those that appeared on the chart in December and January.
Ultimately, purchasing above this threshold might leadBTCbulls to drive thepriceup to around$112,000. Those investorswho acquiredbitcoinduringitsrecentpullbackmightchooseto lock in profits close to last month’s peak, which also represents the digital currency’s all-time high .
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At the time this article was published, the author did not possess any of the aforementioned securities.
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