BTC/USD buyers’ focus stays on $9,000 – Confluence detector


  • The creator of Megaupload believes that the financial system is rotten and Bitcoin and crypto are the only sources of true financial freedom.
  • Bitcoin price only needs a push above the bump at $8,628 to pave the way for an impressively smooth ride towards $9,000.

Bitcoin price is mundanely stuck in the range between $8,500 and $8,600. The correction from Wednesday’s high around $8,712 tested the range support but the high congestion of buyers at the range support cushion the losses. On the upside, movement has been capped under $8,600.

Read alsoBitcoin price analysis: BTC/USD consolidating in a flag pattern

Elsewhere, Megaupload creator Kim Dotcom believes that crypto can bring “true financial freedom.” He argues that he is getting resistance for the launch of his token by the same US government that is printing trillions of “dollars without any value backing it.

He advocates for Bitcoin and crypto saying:

“All the traditional financial systems are completely broken and corrupt. The US government is printing trillions of dollars without any value backing it.

Bitcoin confluence levels

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Bitcoin is lethargic within the mentioned range, besides the confluence tool highlights $8,628 as the initial. BTC only needs a push above this zone to pave the way for a relatively smooth ride to the critical resistance at $8,972. On clearing this level, the buyers will easily jump above $9,000 and shift their focus towards $10,000.

On the other hand, support areas are not as strong as the resistance at $8,972. The first support is seen at $8,560 as highlighted using the pivot point one-week resistance one, Bollinger Band one-hour middle and SMA 10 15-minutes and SMA 50 15-mins among others. Also in line to offer support is $8,525 and $8,491.

More confluence levels

 

 



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