Bitcoin price prediction: BTC/USD bracing for more bumps after re-entering the $8,000’s – Confluence Detector


  • Bitcoin Satoshi Vision’s BSV wants to be recognized as Satoshi Nakamoto but claims Nakamoto plagiarized his thesis paper.
  • Bitcoin is still vulnerable to losses as the upside remains unconquered.

Bitcoin recently refreshed the levels under $8,000. However, an almost immediate correction pulled into the $8,000 range. While bulls are working hard to sustain the price above the critical $8,000, the upside has become a hard nut to crack.

As Bitcoin continues to find its space above $8,000, Craig Wright continues to fight for recognition as the true Satoshi Nakamoto. He even went ahead to say that Satoshi plagiarized his university thesis paper. Wright seems to be sure that the truth about his claims will come into light soon enough saying:

“The University still has my thesis from 2008, they still have my proposal. [….] On that alone, you can make a decision when it comes out, and it will.”

In yet another twisted angle, Wright added:

“[When the thesis comes out] Did Satoshi plagiarize me? Because there are sections in the [Bitcoin] whitepaper — whole paragraphs — [that can be found] in some of my work.”

Bitcoin confluence detectors

fxsoriginal

Bitcoin is trading at $8,067 on Friday in the early hours of the European session. The immediate resistance is placed at $8,110.92 characterized by the five Simple Moving Average (SMA) four-hours, Bollinger Band one-hour middle, SMA five 15-minutes, SMA 10 one-hour, SMA 50 15-minutes and previous high one-hour among others. As it stands the path of least resistance is downwards with the upside also limited at $8,194, $8,362, $8,614 and $8,950.

Bitcoin remains vulnerable to losses even after correcting above $8,000. The first weak support is observed at $8,027. Other key support areas are $7,943, $7,775.25 and $7,103.92.

Other confluence levels

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin resumes the decline after a consolidation period

Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. 

More Bitcoin News

Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

More Cryptocurrencies News

ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP