Bitcoin Surge over $ 4,700 can open doors for $ 6000
Last Bitcoin News
After eight years, Satoshi Nakamoto appears to have activated its P2P Foundation account. By liberating a Wagner Tamanaha and commenting on "Nour", the crypto game was quick to react with some skeptics saying that his account could have been hacked. Now, if Satoshi is back or not, all depends on whether to return to his BitcoinTalk account, which gives insight on the way forward, especially on questionable scalability issues. And in the middle of all this, it will be exciting how Craig Wright responds to "wake up" Satoshi.
For reference: Satoshi Nakamotos (probably hacked) P2P foundation account post "Nour" in Arabic after years of inactivity. #Faketoshi starts tweeting in Arabic 7 hours later. This guy is amazing. pic.twitter.com/lemTBpBD00
̵[ads1]1; Mike V (@Mike__V_) November 30, 2018
While this is exciting, regulators worldwide work overtime to bring law and order into space . Days after a new Finance Act was adopted, the legislators in Estonia amended the Anti-Money Laundering and Terrorist Financing Prevention Act to include crypto clauses and synchronize with the EU's Fourth Money Laundering Directive . By doing so, the Estonian Financial Supervisory Authority (FI) believes that they should squeeze down and prevent unwanted elements from money laundering or terrorist financing through cryptoplatforms.
Meanwhile, SEC's chief Jay Clayton – even though he issues disclaimer that clarifies his comments is his – said in a recent discussion that Bitcoin is a tool since no group has control over it. He continued on and said that while technology is new, crypto assets and platforms should comply with timed rules set by the Commission.
SEC's governor Jay Clayton (his own opinion) at #Bitcoin :
"An asset such as Bitcoin, decentralized […] is designed to replace payment systems for sovereign currencies. We have determined that It does not have the characteristics of a security. "
– C3 | Nik (@ C3_Nik) November 27, 2018
BTC / USD Price Analysis
After the week ending November 25th, we expected the Bitcoin prices to Capitulate it did not. The BTC / USD is down 0.5 percent last week, but quite stable in the last day. However, this does not mean that bulls are in control despite the high trading volumes that support prices above $ 3,700. In fact, from the candlestick scheme, the BTC / USD can sink below $ 3000 and confirm the week ending November 25th. [19659000] ” width=”1366″ height=”768″ srcset=”https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3.png 1366w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-300×169.png 300w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-768×432.png 768w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-1024×576.png 1024w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-750×422.png 750w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-1140×641.png 1140w” sizes=”(max-width: 1366px) 100vw, 1366px”/>
BTC / USD Price Analysis ” width=”1366″ height=”768″ srcset=”https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3.png 1366w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-300×169.png 300w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-768×432.png 768w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-1024×576.png 1024w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-750×422.png 750w, https://ethereumworldnews.com/wp-content/uploads/2018/12/Bitcoin-Daily-Chart-Dec-3-1140×641.png 1140w” sizes=”(max-width: 1366px) 100vw, 1366px”/>
Trend: Bearish
It has been a steep fall for Bitcoin and after clearing the $ 5,800 headline thanks to November 14, uncertainty in front of BCH hard fork and hash war, BTC not yet restored. From the chart the fall has been almost perpendicular. Therefore, before losing this bear development, there must be strong gains over our $ 4 700 less resistance line.
Volumes: Flat, increasing
Thing's BTC / USD may be bearish but finds strong support between $ 3,700 and $ 4,000 and better still oscillating in a $ 1000 value between $ 3,700 or November 2018 low and $ 4,700-the upper limit of this consolidation. Now, within this accumulation, is 25-82k. Towards 47k averages and 28-68kv. Towards 65k average bull bars of our concern.
Notice that we can end up with a three-bar bullish reversal pattern if buyers build enough momentum, racing over $ 4,700 triggers buyer in the process. And from an attempt at profitability, this can now print that price trading is still limited by November 28, high low-tier with above average volumes.
Candlestick formation: Bear Breakout, Accumulation [19659015] After November 14-15, BTC / USD broke during 11 months of support zone in a bursting pattern. This meltdown is evident in the higher time frame, especially the weekly chart, where close to the wedge triggered the next wave of bears that lead to a whole bearable print below $ 5,800. Now, despite this $ 1,000 consolidation, the bears are in control , and for the bulls to be responsible, we must see gains over $ 4,700.
Conclusion
Technically, bear has responsibility and before we recommend bulls, we need to see confirmation on Nov 25 and 28 high volume bars and completion of three- bar stitch pattern, the Morning Star pattern as prices approach $ 4,700, triggering tears aimed at $ 5,500 and $ 6,000. If not, and drops below $ 3,700 or November 25th, then we can See further decreases to $ 3000 or lower.
All charts Courtesy of Trading View.
