On Thursday, August 27th, the BTC is declining, trading at $11363.55 USD. It is correcting after several attempts to grow and renew the peaks.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
- Bitcoin price changes today.
- Frauds handing out the BTC on YouTube again.
- A Canadian chain of restaurants keeps its savings in the BTC.
On W1, the BTC is correcting in an uptrend. The quotations are currently correcting before growing to another resistance level at 100.0% Fibo. The MACD histogram is in the positive area, which is, most probably, a signal of further growth. The signal lines of the indicator keep intertwining upon forming a Black Cross, which, in its turn, may appear a sign of a correction before the growth. The Stochastic keep growing moderately in the overbought area, which makes the growth of the coin after the correction even more probable.
Photo: RoboForex / TradingView
On D1, the technical picture is almost identical to that on W1: the pair keeps correcting after growth. The aim of the decline is the lower border of the ascending channel. The MACD histogram is declining but remains in the positive area, increasing the chances for further development of the ascending impulse after the correction. The signal lines of the indicator demonstrate growth, also supporting the ascending dynamics. The W1 and D1 taken together signal further growth of the asset after the correction.
Photo: RoboForex / TradingView
On H4, the perspectives are the same: the pair is forming a correction to the horizontal support level. The Stochastic has formed a Golden Cross in the overbought area, giving another signal of the upcoming growth.
Photo: RoboForex / TradingView
In the YouTube network, a well-known fraud scheme is working again. Unknown hackers give ads, offering users to place their cryptoassets at their hosting and receive to times more later. This fraud works well on newcomers to the crypto world, that is why it is still there.
This time the offers are made from the name of Elon Musk, the head of SpaceX and Tesla. The ads says that he suggests sending the cryptocurrency to certain addresses and get two times more later. Hence, the more you send, the more you receive in the end. The service is now demonstrating at least two such videos with the same wallet for the cryptocurrency. According to one of the blockchain reviewers, users are already sending in the cryptocurrency.
A Canadian restaurant chain called Tahini’s transferred all of its financial assets in the BTC. The company states that normal money is losing value because the economy is overwhelmed with it; meanwhile, the BTC helps to preserve the finance. In Tahini’s they say that they have made a decision beyond fiat money.
The company is going to store the money in the cryptocurrency until it needs the money back. This strategy turned out perfectly working even in the pandemics.
Disclaimer: Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.
Dmitriy Gurkovskiy is a senior analyst at RoboForex, an award-winning European online foreign exchange forex broker.