Cryptocurrency Analysis

[IFX_Selena]

Technical Analysis of BTC/USD for 28 May 2020

Crypto Industry News:
The message signed by 145 wallets containing Bitcoins extracted in the first years calls Craig Wright a "liar and cheater."

The message was published on May 25 with a list of 145 addresses and their corresponding signatures. This apparently proves that these addresses actually belong to the person sending the message. The message itself is:

"Craig Steven Wright is a liar and cheater. He doesn't have the keys used to sign this message. Lightning Network is a significant achievement. However, we need to continue working on improving chain performance. Unfortunately, the solution is not simply to change the code constant or allow powerful participants to deny others." - we read.

Financial media were able to verify that all addresses could be found on the list of thousands reported by Craig Wright in the case against Ira Kleiman.

Wright has repeatedly been unable to provide proof of ownership of Satoshi Nakamoto's alleged fortune, which is believed to have extracted over a million Bitcoins. A simple way to do this is to sign the message using the cryptographic private key of the wallet, which you can check with the public key.

Given that Wright tried to avoid every opportunity in which he would be forced to finally prove ownership, many in the community doubt that he owns these Bitcoins - and therefore that he is Satoshi Nakamoto.


Technical Market Outlook:
The BTC/USD pair has broken through the blue trend line resistance and is currently hovering just below the key short-term technical resistance located at the level of $9,249. The nearest technical support is seen at the level of $9,013 and $8,819. The momentum is now slightly positive, but not too strong yet. If the level of $9,249 is clearly violated, then the next target for bulls is seen at the level of $9,381. The larger time frame trend remains down.

Weekly Pivot Points:
WR3 - $10,568
WR2 - $10,245
WR1 - $9,478

Weekly Pivot - $9,098
WS1 - $8,333
WS2 - $7,968
WS3 - 7,231


Trading Recommendations:
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 until the level of $10,791 is clearly violated. The key mid-term technical support is located at the level of $7,897.







Performed by Sebastian Seliga
Analytical expert
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