Bitcoin analysis for 27/02/2018

Elon Musk, a billionaire, and entrepreneur known for setting up and running Tesla Motors and SpaceX, on Thursday, February 22, revealed on his Twitter how many Bitcoins he has. This is 0.25 BTC, or about $ 2,478, equivalent to 0.000012% of its total net assets. Musk revealed the number of cryptocurrencies owned, after several false Twitter accounts pretending to represent various famous characters, including Musk, published information promises donations in cryptocurrencies to those who send their digital currencies to them.

On February 22, a Twitter user, worried about the scams, asked Musk in the tweet where these rumors come from. Musk replied that he does not know and that he had already reported the problem to the president of Twitter, Jack Dorsey, for now without success. Musk also added that apart from 0.25 BTC, which his friend gave him many years ago, he has literally zero in cryptocurrencies. The amount in Bitcoin, in which Musk is owned, is a very small part of total net wealth, which is $ 21.4 billion.

As a curiosity, it can be added that in November 2017 Musk denied rumors suggested by former SpaceX intern Sahil Gupta that Musk is probably Satoshi Nakamoto, the legendary anonymous creator of Bitcoin.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. After the bounce from the technical support zone located between the levels of $9,174 - $9,434, the price has broken above the local resistance at the level of $10,455 and currently is moving higher towards the next target at the level of $10,802. This level is very important for the bulls and bears because is very close to the golden trend line, and any violation of this trend line will lead to another upward rally towards the level of $11,896.

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The material has been provided by InstaForex Company - www.instaforex.com