Analysis of Bitcoin Price Evolution 12.11.2020
by CSM TRADER
nº230
BTC / USDT price U $ 15,870.
BTC / BRL price on Braziliex R $ 86,226.
Price USD / BRL R $ 5.39.
Price EUR / BRL R $ 6.35.
Gold Price 1g R $ 323.43.
Good morning to all readers.
Bitcoin price follows an upward trend as long as it is above the $ 15,550 price range.
Bitcoin's price made the biggest weekly rise reaching the $ 15,955 price range.
It will be necessary for the Bitcoin price to remain above the $ 15,720 and $ 15,820 price areas in the short term, in order to continue attempts to advance above the $ 16,000 resistance, and with that an advance above of the $ 16,200 could occur, where if the price of Bitcoin remains above the $ 16,160 and $ 16,200 in the next sessions the probability of advances above the $ 16,500 could occur, and with that the price of Bitcoin will be close to test in the price range of $ 17,000 or even above the price range of the 2nd biggest hike ever made which is in the price area of $ 17,196.
The price of Bitcoin now at the time of writing has just broken through the $ 16,000 price area and with that it will be necessary to advance above the $ 16,200 price area for the next sessions to continue evolutions above the last top formed in the $ 16,336 price range for a well-consolidated break above the $ 16,500 price area.
A brief correction may occur, but the Bitcoin price is expected to remain at least above the $ 15,550 price range so as not to lose positive advances above $ 15,900 and thereby continue to advance above $ 16,000.
It will be necessary for the Bitcoin price to remain above support in the price range of $ 15,550 and $ 15,500 so as not to have major disadvantages below that, and can go back up to the price area of $ 15,460 or even more below that; because below EMA 100 (H1) the disadvantages will be greater.
A daily close was made above the $ 15,680 price range.
For today, a close above the $ 15,740 price range would be a good size. Ideally, a daily close above the $ 16,040 price range for consolidations and advances above this price range.
uyers remain in control of the situation above the price range of U $ 15,550 and U $ 15,880 and with that consolidations and developments are being made.
Buyers are now barely making an advance above the $ 16,000 price range and then sellers got in control of the situation and took the Bitcoin price to the $ 15,590 price range and now Buyers need the continuation of consolidations above the price range of U $ 15,680 and U $ 15,760 for possible advances above the resistance of U $ 16,200 for the next sessions.
This advance above the price range of U $ 16,200 and U $ 16,320 will be very important for the continuation of positive developments above it and still being able to reach the price area of U $ 16,500 and thus the attempt to surpass this price area may occur.
On the other hand, if buyers are unable to achieve good consolidations and developments above the $ 16,200 and $ 16,500 price points, the disadvantages created by the sellers will start to appear and with that they will come into control of the situation where they can create the disadvantages. below the $ 16,000 price range where buyers will have to bar these disadvantages up to the $ 15,860 and $ 15,740 price range in order not to start having problems below the $ 15,600 price range, where it can extend up to area of U $ 15,550 where below that the disadvantages may be much greater.
A close of the diary was made by buyers above the U $ 15,680 price area, and with that, developments and consolidations above the U $ 15,860 price area are taking place.
For today, a close above the $ 15,700 price range will be a good size. Ideally, buyers should get a daily close above the $ 16,020 price range.
It will be necessary in the short term for buyers to keep Bitcoin's price above EMA 20 in order not to start having disadvantages.
Sellers will just drop the price of Bitcoin to the $ 15,590 price range; therefore, the sellers will need consolidations for the return above U $ 16,000, where they will need to exceed the U $ 16,200 price area, which seems to have had difficulties in the first attempt to break.
It follows buyers in an attempt to advance above the $ 15,700 price range and will have to safeguard the $ 15,650, $ 15,600 and $ 15,550 price range in order to have no disadvantages below that in the short term.
Bitcoin TODAY on Braziliex: H1
Bitcoin price today on Braziliex follows an upward trend above the R $ 84,600 price range.
The price of Bitcoin on Braziliex made a good evolution above the price range of U $ 85,200 and with that it even tested the price area of R $ 88,000.
It will be important that the Bitcoin price on Braziliex stays above the price range of R $ 85,200 and R $ 85,500 for the next sessions to continue the good consolidations and the attempt of a return to exceed the price area of R $ 87,000 and thus advancing above R $ 88,000.
Buyers remain in control of the situation with the Bitcoin price on Braziliex as long as they keep the Bitcoin price above the price range of R $ 85,200 in the short term; because below that the sellers will be able to get in control of the situation and where they can create disadvantages below the price areas of R $ 84,600 and R $ 84,000 where buyers will have to bar sellers at any cost because below that sellers will gain strength and thus being able to create more disadvantages below R $ 83,820.
It follows buyers in an attempt to evolve above the price range of R $ 86,500.
Resistances: R $ 87,224 // R $ 87,702 // R $ 88,124 // R $ 88,602.
Support: R $ 86,688 // R $ 86,088 // R $ 85,566 // R $ 84,977.
RSI: It is at level 29 and with an upward bias.
https://www.tradingview.com/x/qoavkhmc
Graph: H4
Bitcoin's price remains above the EMAs well above the Ichimoku Cloud.
Bitcoin's price has now just reached the $ 16,160 price range, and the brief correction came in the $ 15,596 price range.
The price of Bitcoin remains above the price area of the last background test in the price area of the $ 15,596, where it will be of utmost importance that the price of Bitcoin remains above this price area of the $ 15,590 to avoid further disadvantages below that it can reach up to the price area of U $ 15,440 and with that the disadvantages may extend even more.
The sellers managed to gain control of the situation in the area of the price of $ 16,160 and thereby created disadvantages that reached the price area of $ 15,596.
It will be necessary for buyers to continue consolidations and developments and still protect the $ 15,700 price range so that sellers are unable to create further disadvantages below this price area.
It follows sellers in an attempt to evolve with Bitcoin's price above the $ 15,700 price range.
The chart on H4 had followed the whole week to have a parameter of Bitcoin price evolution. Only resistance and support adjustments will be made.
Resistances: U $ 15,814 // U $ 15,969 // U $ 16,166 // U $ 16,326.
Support: U $ 15,588 // U $ 15,437 // U $ 15,211 / U $ 15,037.
https://www.tradingview.com/x/XNjI7UqT/
Graph: H1
The price of Bitcoin remains above the EMAs 50 and 100, however, below the EMA 5 and 20 where it will have to surpass them in the short term to continue the positive evolution above the price area of the U $ 15,800 and with that return to attempts to pursue positive developments above the $ 16,000 area again where advancement over $ 16,200 will be needed to continue positive advances above $ 16,320.
For the next few sessions, it will be extremely important for the Bitcoin price to be above the $ 15,550 price area or above EMA 50 which has already been touched on just now so as not to have major disadvantages below this price area.
Buyers are back in control of the situation above the $ 15,600 price area after the brief correction that reached the $ 15,596 price area and with that they need to move further above the $ 15,780 price area to get out of a risk area and may thus lose control of the situation.
Buyers will need to return to attempts to move the Bitcoin price above the $ 15,800 price area and $ 15,900 to return to attempts to consolidate the Bitcoin price above the $ 16,000 price area.
Resistances: U $ 15,862 // U $ 15,966 // U $ 16,092 // U $ 16,208.
Support: U $ 15,644 // U $ 15,503 // U $ 15,358 // U $ 15,224.
The price of Bitcoin remains above the 0.618% Fibo in the price area of the $ 15,713 in relation to the last fund formed in the price area of the $ 15,438, where the Bitcoin price should exceed the Fibo 0.5% to give continuity of evolutions positive above the price area of U $ 15,799 and with that the possibilities of advances above U $ 15,884 may occur; because below Fibo 0.618% the disadvantages may reoccur.
It will be extremely important for buyers to advance above the $ 15,884 price point for the next sessions, or the disadvantages created by the sellers will appear.
https://www.tradingview.com/x/GFpqr610/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 40 and has a downward bias.
https://www.tradingview.com/x/Y5vdc9AY/
MACD: The MACD at the BTC chart time is at level 75 and has a downward bias.
https://www.tradingview.com/x/YFeuAAId/
OBV: The OBV at the BTC chart time H1 is at level 150 and with a slight upward bias.
https://www.tradingview.com/x/2nuVwNnV/
Graph: M5
Bitcoin's price remains below the EMAs 20, 50 and 100 and below the Ichimoku Cloud.
A bitcoin price breakthrough will be required for the next session above the EMA 100 or above the $ 15,800 price range for the continuations of developments above the $ 15,860 price range and with that the odds back to a breakthrough over $ 16,000 may arise.
It follows buyers in an attempt to evolve above the $ 15,780 price range, which will be extremely important to prevent sellers from gaining control of the situation below the $ 15,600 price range.
Resistances: U $ 15,777 // U $ 15,825 // U $ 15,883 // U $ 15,939.
Support: U $ 15,723 // U $ 15,672 // U $ 15,627 // U $ 15,591.
https://www.tradingview.com/x/sOPsOqFU/
BTC dominance 66.40%
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nº230
