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Bitcoin Surge above $ 4,700 Could Open Doors for $ 6,000

Latest Bitcoin News After eight years hiatus, it appears as if Satoshi Nakamoto is back activating his P2P Foundation account.…

Latest Bitcoin News

After eight years hiatus, it appears as if Satoshi Nakamoto is back activating his P2P Foundation account. By befriending one Wagner Tamanaha and commenting “Nour” the crypto space was quick to react with some skeptical saying his account might have been hacked. Nu, om Satoshi er tilbage eller ikke, det hele afhænger af, om han skal gøre en comeback på hans BitcoinTalk-konto, som giver indsigt på vejen frem for alt om indholdsmæssige problemer omkring skalbarhed. And in the midst of all this, it will be exciting how Craig Wright responds to the “awaken” Satoshi.

While this is exciting, regulators across the globe are working overtime to bring law and order into space . Days after passing a new Financial Bill, law makers in Estonia did amend the Anti Money Laundering and Terrorist Financing Prevention Act to include crypto clauses and sync with the EU’s Fourth Money Laundering Prevention Directive . By the way, the Estonian Financial Supervision Authority (FI) believes they will clamp down and prevent unwanted elements from laundering or financing terrorist activities through crypto platforms.

Meanwhile, the SEC boss Jay Clayton-though issuing disclaimer clarifying that his comments are His-said in a recent discussion that Bitcoin is a utility since no group has control of it.

BTC / USD Price Analysis

 BTC / USD Price Analysis

After week ending Nov 25, we expected Bitcoin prices to capitulate but it did not. BTC / USD is down 0.5 percent in the last week but pretty stable in the last day. Men det betyr ikke at tyre er i kontroll, selv om de høye handelsvolumer støtter priser over $ 3,700. In fact, from candlestick arrangement, BTC / USD could sink below $ 3,000 confirming week ending Nov 25 losses.

 BTC / USD Price Analysis

Trend: Bearish

It has been a steep fall for Bitcoin and after clearing the $ 5,800 main support line thanks to Nov 14 uncertainty ahead of BCH hard fork and hash war, BTC is yet to recover. From the chart, the case has been almost perpendicular. Therefore, before we fade this bear trend there must be strong gains above our minor resistance line at $ 4,700.

Volumes: Flat, increasing

Thing is BTC / USD may be bearish but is finding strong support between $ 3,700 and $ 4,000 and better still oscillating in a $ 1,000 range between $ 3,700 or Nov 2018 lows and $ 4,700-the upper limit of this consolidation. Now, within this accumulation, Nov 25-82k versus 47k average and Nov 28-68k versus 65k average are bull bars of our concern.

Notice that we might end up with a three-bar bullish reversal pattern if buyers build enough momentum , racing over $ 4,700 triggering buys in the process.

Candlestick Formation: Bear Breakout, Accumulation

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