Bitcoin Price Evolution Analysis 10.11.2020
by CSM TRADER
nº228
BTC price U $ 15,380.
BTC price on Braziliex R $ 82,451.
Price USD / BRL R $ 5.38.
Price EUR / BRL R $ 6.36.
Gold Price 1g R $ 316.06.
Good morning to all readers.
Bitcoin price follows an upward trend as long as it is above the $ 15,160 and $ 15,000 price range.
A few earlier sessions, when the Bitcoin price came to test the $ 15,843 price range, followed shortly after by a strong correction that took the Bitcoin price up to the $ 14,803 price range.
Right after the price of Bitcoin it returned to positive developments and with that it went back to exceeding the price area of the $ 15,000 and now at the time of writing follows in the price area of the $ 15,370.
Bitcoin price is encountering strong resistance in overcoming the $ 15,460 and $ 15,500 price areas.
It will be important for the Bitcoin price to continue with positive developments above the resistance of U $ 15,480 and U $ 15,500 and with that it gains strength and evolves and consolidates itself above the U $ 15,740 price area for an advance above the test made in price area of U $ 15,843 for possible advances above U $ 16,000.
If the Bitcoin price goes into exhaustion again in attempts to overcome the $ 15,500 and $ 15,600 price areas, a downward correction may again arise and as a result the Bitcoin price needs to remain above the $ 10 price area. 15,160 and above the $ 15,000 support; where if the price of Bitcoin falls below U $ 15,000 a round the U $ 14,800 price range may occur and may even extend up to U $ 14,540 and U $ 14,500 price area.
Important for the price of Bitcoin this advance above the price area of $ 15,500 for the next sessions.
It will be important for the Bitcoin price to stay above the EMA 100 (H1) for the next sessions so as not to have disadvantages below that.
A daily close was made above the $ 15,325 price range.
For today, closing the daily above the price range of U $ 15,240 will be a good way not to miss the consolidations made so far above U $ 15,000.
Buyers managed to evolve the price of Bitcoin up to the $ 15,843 price point, but failed to continue the evolution above it and with that the sellers took action.
Buyers remain in control of the situation after losing control over a few past sessions, and with that sellers have pushed the Bitcoin price below the $ 15,000 support, reaching up to the $ 14,803 price point.
It is necessary for buyers to advance above the resistance of U $ 15,500 for the next sessions in order not to go into exhaustion and with that the sellers will be able to control the situation and create disadvantages that could reach the price area of U $ 15,200.
This disadvantages created by the sellers need to be stopped by the buyers in the price area of U $ 15,160 so that they do not extend below the U $ 15,000 price area, because below U $ 15,000 the sellers will be able to gain strength and further extend these disadvantages reaching up to the price range of U $ 14,800 and U $ 14,720.
Buyers will need positive developments above the $ 15,460 and $ 15,600 price areas for the next sessions.
A daily close was made above the $ 15,325 price range.
For today, the ideal would be above the price area of U $ 15,460, but above the price area of U $ 15,200 it will be a good size. A close below $ 15,000 would hurt buyers' developments in the medium term.
It follows buyers in an attempt to evolve above the $ 15,400 and $ 15,460 price range.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin today on Braziliex remains above the price range of R $ 80,600 and needs positive developments above the price area of R $ 83,400 and R $ 84,000 for the consolidations above them and with this the attempt to return above the The price area of R $ 85,000 may occur for the next sessions.
Buyers remain in control of the situation above the price range of R $ 80,600, but the price of Bitcoin on Braziliex needs to evolve above the price areas of R $ 83,400 and R $ 84,200 for the next sessions in order not to go into exhaustion and leave salespeople take care of the situation.
If sellers get in control of the situation they could create disadvantages below the price range of R $ 82,000 and with that it will be extremely important for buyers to bar sellers in the price area of R $ 81,400 for these disadvantages not to extend below the area price of R $ 80,600 and with that the losses for buyers may still be greater below that.
Follow the buyers on Braziliex today in an attempt to evolve above the price range of R $ 82,680.
Resistances: R $ 83,235 // R $ 84,170 // R $ 84,999 // R $ 85,687.
Support: R $ 82,440 // R $ 81,646 // R $ 80,729 // R $ 79,953.
RSI: It is at level 44 and has a downward bias.
https://www.tradingview.com/x/wvclW1uP
Graph: H4
Bitcoin's price remains above the EMAs 20, 50 and 100 and above the Ichimoku Cloud.
Bitcoin prices need to exceed EMA 5 in the short term for further developments above the $ 15,400 price range.
Buyers are struggling to make an advance above the $ 15,460 price range and thus the possibilities for exhaustion may occur if they are unable to advance above it for the next sessions.
If buyers go into exhaustion, sellers will be able to get in control of the situation and create disadvantages that may reach the $ 15,200 price area where buyers will have to bar sellers from having more disadvantages below this $ price area. 15,200 and $ 15,160.
Buyers need to continue testing the resistance of $ 15,460 and $ 15,500 because the more tested the resistance the weaker it will become; and thus positive advances above U $ 15,550 and U $ 15,600 may appear.
Resistances: U $ 15,506 // U $ 15,735 // U $ 15,964 // U $ 16,198.
Supports: U $ 15,228 // U $ 15,039 // U $ 14,832 / U $ 14,625.
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.
https://www.tradingview.com/x/7JGq3HZD/
Graph: H1
Bitcoin's price remains just above the EMA 100 and within the Ichimoku Cloud.
It will be necessary for the price of Bitcoin to try to stay above the EMA 100 so as not to fall into disadvantages below $ 15,160 and thereby run the risk of these disadvantages extending below $ 15,000.
Buyers are losing control of the situation below the $ 15,300 price range and as a result, sellers are looking to drop the Bitcoin price below the EMA 100 where if the disadvantages are achieved they could be even greater, possibly reaching the area of the $ 15,160 or even lower if buyers are unable to regain control of the situation in the short term.
Resistances: U $ 15,264 // U $ 15,370 // U $ 15,475 // U $ 15,594.
Support: U $ 15,172 // U $ 15,056 // U $ 14,927 // U $ 14,803.
The price of Bitcoin remains above the 0.5% Fibo in the price area of the $ 15,088 where it should remain so as not to have any possible disadvantages below the Fibo 0.618% in the price area of the $ 14,910 and with that it can extend to the price area of the $ 14,800.
It will be of utmost importance for buyers to advance above EMA 100 and not let sellers overtake with Bitcoin price below LTA because then, sellers will gain more strength and the disadvantages may only increase.
https://www.tradingview.com/x/W8vfeS0m/
Technical indicators: H1
RSI: The RSI at the BTC H1 chart time is at level 43 and bearish bias.
https://www.tradingview.com/x/CZ9E0FoB/
MACD: The MACD at the BTC chart time is at level -4 and has a downward bias.
https://www.tradingview.com/x/nyItrkdZ/
OBV: The OBV at the BTC chart's H1 time is at level 145 and with a small bearish bias.
https://www.tradingview.com/x/iMhcfoXi/
Graph: M5
Bitcoin's price remains below the EMAs and below the Ichimoku Cloud.
It will be necessary for the price of Bitcoin to make a further advance above the EMA 100 for the next session in order to have no further disadvantages below it.
It is important for buyers to insure the disadvantages that are being created by sellers above the $ 15,155 price range so that they will no longer have disadvantages that could reach below the $ 15,000 price area.
Buyers follow in an attempt to evolve the price above the $ 15,220 price range.
Only an advance above the EMA 100 that buyers are able to get back in full control of the situation; otherwise they are at risk of further disadvantages below it.
Resistances: U $ 15,300 // U $ 15,340 // U $ 15,379 // U $ 15,428.
Support: U $ 15,254 // U $ 15,202 // U $ 15,142 // U $ 15,089.
https://www.tradingview.com/x/dP7d7VUu/
BTC dominance 65.95%
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nº228
