Bitcoin (BTC) Long-term Price Analysis – December 30

  • If the bulls managed to breach the $4,500 mark and remain above it for a long period of time, an uptrend may follow.
  • A reversal at that point could also see the bears take over.

BTCUSD Long-term Trend – Ranging

  • Distribution territories: $5,000, $5,500, $6,000
  • Accumulation territories: $2,500, $2,000, $1,500

Bitcoin’s price has been going through a series of ranging movements in the last few days, after it fell from a high seen on December 24. Currently, the flagship cryptocurrency’s trading has been seeing it range between the $4,000 and the $3,500 marks, below the 50-day SMA.

Bitcoin, BTCUSD, Cryptocompare chartBitcoin Chart by TradingView

The cryptocurrency now appears to be using its 14-day SMA as a support, in an attempt to move up. The 50-day SMA is located over the 14-day SMA and there’s a short space between them.

The Stochastic Oscillators closed at range 60 to likely suggest indecision in the market. Most of the time, traders are expected to wait for a strong movement to take place before considering entering the market. If the bulls managed to breach the $4,500 mark and remain above it for a long period of time, an uptrend may follow. A reversal at that point could also see the bears take over.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Hackers Hijack Major UK Supermarket’s Twitter Account to Promote Bitcoin Scam

Hackers have recently hijacked the Twitter account of a major supermarket in the UK, Tesco, and used their access to promote a bitcoin scam that saw them pose as Bill Gates to try and get users to send them BTC.

According to Bleeping Computer, the hackers compromised Tesco’s official Twitter account, which has over 540,000 followers. The hackers started urging users to send them over BTC, purportedly to celebrate the cryptocurrency’s price rise, claiming they’d double their money.

Later on, they changed the handle to @Billgatesmsc and replaced its profile picture with one of the Microsoft co-founder, before continuing their bitcoin scam attempt. While no customers appear to have fallen for the scam, Tesco briefly lost its verified status on the microblogging platform over the ordeal.

The hackers notably also replied to some Tesco customers, requesting personal information such as full names, addresses, postcodes, and more. This, while still impersonating Bill Gates. Tesco’s customers realized something was amiss, and it’s believed no one fell for the requests.

At press time, Tesco has regained control of its Twitter account, which has gotten its verified badge back. It’s unclear how the hackers managed to compromise the supermarket’s account, and the firm hasn’t issued any statements on it.

Notably, scammers trying to get cryptocurrencies on Twitter with these schemes have been around since last year. As CryptoGlobe covered, the scammers kept on hijacking verified Twitter accounts, and then used them to promote fake cryptocurrency giveaway links.

In a famous case they impersonated Tesla founder Elon Musk, and managed to rake in over $39,000 from unsuspecting victims.