Cryptocurrency Analysis

[IFX_Selena]

Technical Analysis of BTC/USD for 09 April 2020

Crypto Industry News:
Microsoft warns hospitals at risk of ransomware attacks to prevent healthcare institutions from being overwhelmed by the COVID-19 pandemic. The company also published recommendations for hospitals to secure their systems and prevent such attacks.

Through a network of threat analysts, Microsoft states that it has "identified dozens of hospitals" with vulnerable virtual private networks and other publicly available applications on their systems:

Microsoft distributed "first-of-its-kind" targeted hospital notifications containing "important information about vulnerabilities, how attackers can exploit them, and a strong recommendation to apply security updates that protect them from security holes."

Hospitals were recommended to provide regular updates of the VPN configuration and firewall, better monitoring of remote access infrastructure, and enhanced violation response protocols.

It is recommended that they seek greater involvement of operational security specialists and plan regular audits. Microsoft is also participating in the 'Tech Against Corona' initiative with around a dozen technology companies to freely provide technology to the Dutch government to fight coronavirus - which includes efforts to help hospitals fight ransomware.

Some ransomware and darknet operators take a rare moral position among COVID-19. Both Maze and DoppelPaymer operators said they would not launch ransomware attacks on hospitals during a pandemic.


Technical Market Outlook:
After a dip towards the level of $7,028, the BTC/USD pair moved quickly back towards the recent high at the level of $7,392. Currently, the bulls are preparing to rally higher towards the level of $7,757 as the price consolidates the recent gains. Nevertheless, if the bearish pressure will intensify again, then the price might lose the momentum and move even lower towards the technical support located at $6,908 or even towards the level of $6,586.

Weekly Pivot Points:
WR3 - $8,726
WR2 - $7,938
WR1 - $7,363

Weekly Pivot - $6,545
WS1 - $5,997
WS2 - $5,159
WS3 - $4,567


Trading Recommendations:
The fear of the coronavirus consequences is very strong among the global investors and it rules on the financial markets. So far the global investors are not so keen to invest in Bitcoin and treat BTC as a digital gold. The larger time frame trend remains down and as long as the level of $10,791 is not violated, all rallies will be treated as a counter-trend corrective moves. This is why the short positions are now more preferred.







Performed by Sebastian Seliga
Analytical expert
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