FX.co ★ Technical Analysis of BTC/USD for August 16, 2021

Crypto Industry News:

According to Internet reports, T-Mobile is investigating the alleged data breach of the users of the American telecom giant. The report says that the hacker could have accessed the data of over 100 million customers directly from T-Mobile's servers.

In return for some data, the striker is asking for 6 BTC, worth around $ 287,000 at current prices.

Vice's editors say they've seen data samples that include social security numbers, phone numbers, names, physical addresses, unique IMEI numbers, and driver's license information.

Whoever put the data up for sale said they are currently selling most of the data, but will soon provide a subset of the data with 30 million social security numbers and driving licenses that can be purchased through BTC.

Referring to T-Mobile's alert and breach response, the hacker said, "I think they've already found out because we lost access to the servers."

According to internet reports, a spokesman for T-Mobile said the company is "aware of the offers appearing on the underground forum" and is "actively investigating them", adding: "We have nothing else to add at the moment."

This is not the first time that T-Mobile has been at the center of a cybersecurity scandal. In February this year, a mobile operator was sued by a victim who lost $ 450,000 in bitcoin in a SIM-swap attack.

Technical Market Outlook:

The BTC/USD pair has been seen rallying during the weekend. The bounce from the level of $45,710 was strong and bulls tested the recent high seen at the level of $48,000. Nevertheless, the rally has ended with a Shooting Star candlestick formation, so it might be a time for another pull-back during the up trend. The immediate techncial support is seen at the level of $46,719.

Weekly Pivot Points:

WR3 - $54,673

WR2 - $51,130

WR1 - $49,247

Weekly Pivot - $46,037

WS1 - $43,891

WS2 - $45,515

WS3 - $38,510

Trading Outlook:

The bulls are still in control of the Bitcoin market, so the up trend continues and the next long term target for Bitcoin is seen at the level of $70,000. The next mid-term target is seen at the level of $47,000. This scenario is valid as long as the level of $30,000 is clearly broken on the daily time frame chart (daily candle close below $30k).