Bitcoin 08.02.2021 Price Evolution Analysis
by CSM TRADER
nº290
Price of BTC U$ 39,080.
BTC price at Braziliex $ 212,895.
Price USD/BRL R$ 5.37.
Price EUR/BRL $ 6.45.
Price Gold 1g R$ 312.69.
Good morning to all readers.
Bitcoin price is on an upward trend above the price area of U$ 38,500.
The price of Bitcoin this weekend tested the price area of $ 40,956 where it could not surpass the same and came the negative corrections down the price areas of $ 40,500 and $ 39,700 and testing the price area of $ 37,350.
Now at the time of writing, Bitcoin's price follows the price area of $39,050, where with a lot of difficulty it is trying to evolve positively above the price areas of $39,220 and $39,460.
In the case mentioned above, the Bitcoin price at some past sessions has already tested the price area of the $39,391, where positive evolutions above the price areas of the $39,440 and $39,500 will be necessary, where by breaking the price area of the $39,500 the positive evolutions can continue above the price areas of the $39,660 and $39,780.
If Bitcoin's price fails to exceed the price area of $39,500 the negative corrections may return to the price areas of $39,320 and $39,120 where there may still be more disadvantages below the price areas of $38,880.
It will be of extreme importance for the price of Bitcoin to stay above the EMA 20 (H1) or even above the U$ 38,850 price area in order not to have great disadvantages below it.
It was made a daily closing above the price area of U$ 38,700.
For today a good closing of the diary would be above the price area of U$ 39,460.
The buyers follow in the control of the situation above the price area of U$ 38.500.
It will be necessary for the buyers to advance above the price area of $ 39,500 and $ 39,660 for the next sessions.
In the case mentioned above, if the buyers achieve a good progression above the price area of $ 39,660 the possibilities of a positive progression above the price areas of $ 39,880 and $ 40,000 may arise, as long as the buyers keep in good consolidations above $ 39,220.
Buyers are wanting to go over the $40,000 price area, where for this they will have to overcome strong resistance in the $39,500 and $39,860 price area.
If buyers fail to overcome the $39,500 price area for the next few sessions, the disadvantages created by sellers may arise again from the $39,320 and $39,120 price areas where, buyers will have to try to bar sellers above the $38,880 price area in order not to have greater disadvantages below it.
It was made a daily closing above the price area of U$ 38,700.
For today it would be important that the buyers would make a good daily closing above the price area of U$ 39,500; where more important still would be above U$ 40,000.
Follow the buyers now at the time of writing, above the price area of U$ 39,420.
Bitcoin TODAY at Braziliex: H1
The price of Bitcoin at Braziliex this weekend 06 and 07/2021 remained above the price areas of R$ 200,000 and R$ 204,000 and even tested the price area of R$ 220,000.
Now at the time of writing the price of Bitcoin at Braziliex follows in the price area of R$ 213,179.
It is necessary that the price of Bitcoin at Braziliex continue its consolidations and positive evolutions above the price area of R$ 208,600 so that the attempts of a break in the price area of R$ 220,000 can occur and still extend above the price areas of R$ 226,000 and can reach R$ 228,220.
If the price of Bitcoin fails in its positive evolution above the price areas of R$ 218,000 and R$ 220,000, the negative corrections may arise, and with this, extend below the price areas of R$ 216,000 and R$ 212,440, where it will be necessary, a stop above R$ 211,800 not to continue below R$ 208,600.
The buyers follow in total control of the situation above the price area of R$ 200,000.
The buyers at Braziliex made good progress with the price of Bitcoin in past sessions, where they managed to test the price area of R$ 220,000, where only R$ 9,000 was missing for a new ATH.
The buyers at Braziliex need to continue to evolve and consolidate above the price areas of R$ 206,600 and R$ 210,000, so that they can maintain the Bitcoin price at Braziliex above R$ 212,200 and with this the attempts to evolve above the price areas of R$ 216,000 and R$ 218,460 can arise for the next sessions.
If the buyers fail to evolve above the R$ 218,000 and R$ 220,000, the sellers at Braziliex will be able to control the situation and with this will create the disadvantages that may go down the price areas of R$ 212,000 and R$ 208,000, where the buyers will have to bar the sellers above the R$ 206,600 in order not to have big losses below the R$ 206,000.
It follows the buyers in an attempt to evolve the price of Bitcoin at Braziliex above the price area of U$ 214,220.
Resistances: R$ 214.053 // R$ 214.993 // R$ 216.160 // R$ 217.516.
Supports: R$ 212.020 // R$ 211.011 // R$ 209.655 // R$ 208.015.
https://www.tradingview.com/x/xiGJ4Rwo
Graph H4:
The price of Bitcoin follows above EMAs and well above Ichimoku Cloud.
It will be necessary for the Bitcoin price a good and consolidated advance above the price area of $39,500 and $39,580 so that positive advance continuities above $39,660 can occur.
If the Bitcoin price fails at these advances above $39,660 the disadvantages may appear below the price areas of $39,400 and $39,220.
Buyers seem to have good consolidations above the price area of $39,320 and may try a good advance above the price area of $39,500 and $39,660 for the next sessions and go in search of the price area of $40,000.
For the continuity of positive advances to try a test or even the continuity of advances upwards of $ 41,000; buyers will have to overcome the strong resistance of $ 40,500.
On the other hand, if buyers fail to advance above the $39,500 and $39,880 price areas, the disadvantages created by sellers may appear to be below $39,360 and $39,120 where buyers will have to defend the $39,000 price area "with nails and teeth" in order not to have major disadvantages below them.
It is important for buyers to stay above the EMA 20 for the next sessions.
It follows the buyers in the attempt to evolve the price of Bitcoin above the price area of U$ 39,500, where now little they have tested it.
The graph in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistance: U$ 39.519 // U$ 39.833 // U$ 40.188 // U$ 40.500.
Supports: U$ 39.270 // U$ 39.029 // U$ 38.830 // U$ 38.552.
https://www.tradingview.com/x/SFJNcavm/
Graph H1:
The price of Bitcoin follows above the EMAs and above the Ichimoku Cloud.
The price of Bitcoin needs to give continuity of consolidations and positive evolutions above the price areas of U$ 39.220 and U$ 39.480 so that the evolutions above U$ 39.500 and U$ 39.660 can appear.
If the price of Bitcoin fails to evolve above $39,500, the disadvantages may return below $39,320 and $39,120.
Buyers are still having difficulties to upgrade the Bitcoin price above $39,500; but they are managing to keep the Bitcoin price above EMA 5 or above the price area of $39,220 which will be very important for the next sessions.
If buyers fail again to upgrade the Bitcoin price above the $39,500 and $39,580 price area, the sellers will take control of the situation and may create the disadvantages below the $39,220 where it will be necessary for buyers to bar the sellers above the $39,000.
It follows the buyers in an attempt to raise the price of Bitcoin above $39,500.
Resistances: U$ 39.511 // U$ 39.703 // U$ 39.908 // U$ 40.119.
Supports: U$ 39.325 // U$ 39.082 // U$ 38.845 // U$ 38.570.
https://www.tradingview.com/x/Cmn9fd0h/
Technical indicators: H1
RSI: The RSI on the BTC H1 chart time is at level 99 and biased upwards.
https://www.tradingview.com/x/CXR2NKvQ/
MACD: The MACD on the BTC chart time is at positive level 135 and bullish bias.
https://www.tradingview.com/x/7n8o36fB/
OBV: The OBV in BTC's H1 graphic time is at level 935 and with a small bias.
https://www.tradingview.com/x/olVuPJJp/
M5 Graph:
The price of Bitcoin follows above VWAP, but below BB's center line.
Only a good advance above the price area of U$ 39,500 to the price of Bitcoin can achieve good evolutions above U$ 39,660.
It follows buyers with great difficulties in evolving the price of Bitcoin above $39,500.
Resistance: U$ 39.318 // U$ 39.445 // U$ 39.549 // U$ 39.717.
Supports: U$ 39.163 // U$ 38.999 // U$ 38.878 // U$ 38.723.
https://www.tradingview.com/x/xQZ7W68s/
BTC dominance 60.67%
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nº290
