Bitcoin Price Evolution Analysis 01.02.2021
by CSM TRADER
nº285
Price of BTC U$ 34,240.
BTC price at Braziliex R$ 185.003.
Price USD/BRL R$ 5.46
Price EUR/BRL R$ 6,60
Gold Price 1g $ 327,07.
Good morning to all readers.
The price of Bitcoin continues in a rising trend above the price area of U$ 32,170.
The Bitcoin price this weekend 30/31/2021 came to test the U$ 30,170 price area, after being rejected in the U$ 34,800 and U$ 34,320 price areas.
Now at writing time, the Bitcoin price comes from a positive recovery after testing the price area of $32,295 and continues in the price area of $34,400.
It will be of utmost importance that the price of Bitcoin goes beyond the price area of $34,800 this time for new positive developments to emerge above the price area of $35,000 and $35,220 and with the possibility of advancing above the price area of $35,550.
In the case mentioned above, if the Bitcoin price fails again for the positive evolutions upwards of $35,000, the negative corrections may appear and take the Bitcoin price below the price areas of $34,000 and $33,700 and still be able to extend again below the $32,880 or below the EMA 100 (H1).
Only a good and strong advance in the price of the Bitcoin up to the price areas of U$ 35,000 and U$ 35,120 to change the downward trajectory below U$ 34,000, in the short term.
A daily closing was made above the price area of U$ 32,760.
For today a good closing of the diary would be above the price area of U$ 34,320 or above the EMA 50 (H1).
The buyers were able to get back in control of the situation after the sellers were able to test the price area of U$ 32,295.
The buyers were able to protect the $32,000 price area and with that came back the positive developments above it.
Now at the time of writing, the buyers follow with the price of Bitcoin in the price area of $34,126.
Once again the buyers are having difficulties to advance positively above the price areas of $34,400 and $34,550.
It will be of extreme importance for buyers to advance up the price areas of $34,550 and $34,800; where they have already failed a few times to advance up the price areas.
If buyers fail again to move the Bitcoin price above these price areas, the sellers will take advantage again and try to control the situation.
Once the sellers are in control of the situation they will be able to create the disadvantages again down the price areas of $34,120 and $33,880 where if the buyers still can't bar the sellers above the price area of $33,550, the sellers will gain strength and take the Bitcoin price even further down the price area of $33,320 and $33,080.
It will be extremely important for buyers to bar vendors above the EMA 100 (H1) so as not to have major disadvantages below it.
It was made a daily closing above the price area of U$ 32,760.
For today the buyers would need to close the daily above the price area of U$ 34,220 to continue in a "safe" price area.
It follows the buyers in control of the situation, however, they need a good advance above the $34,220 and $34,555 price areas, not to let the sellers lower the price of Bitcoin below $33,880, for the next sessions.
Bitcoin TODAY at Braziliex: H1
The price of Bitcoin at Braziliex this weekend 30/31/2021 was in consolidations between the price areas of R$ 179.000 and R$ 185.000.
Now at the time of writing the price of Bitcoin at Braziliex follows in the price area of $ 184,041 and needs to give the continuity of consolidations above the price area of $ 179,600.
It will be necessary for the price of Bitcoin at Braziliex the positive advances above the price areas of R$ 188,600 and R$ 190,000 so that the positive evolutions give continuity above the price area of R$ 194,000.
On the other hand, if the Bitcoin price at Braziliex fails to complete the advances above the R$ 192,000 price area for the next sessions, the disadvantages may appear and thus go below the R$ 188,000 and R$ 186,600 price areas where these disadvantages can still be extended below the R$ 182,550 price area.
The buyers need to give the continuity of positive evolutions with the price of Bitcoin at Braziliex above the price areas of R$ 189,600 and R$ 190,000 for the next sessions to return the consolidations above them and with this the possibilities of advances above the R$ 192,600 and R$ 194,000 may arise.
If the buyers come to fail in evolutions upwards of the price area of the R$ 190.000 can of the entrance in the control of the situation for the sellers and with this the disadvantages can go down of the price area of the R$ 186.000 and R$ 184.200.
It will be important for the buyers to bar the sellers above the price area of the $ 182.600 not to start to have great disadvantages below this price area.
It follows the buyers in the attempt to evolve the price of Bitcoin at Braziliex above the price area of $ 188,220.
Resistances: R$ 188.834 // R$ 190.727 // R$ 193.172 // R$ 195.854.
Supports: R$ 185.048 // R$ 182.288 // R$ 179.764 // R$ 177.027.
https://www.tradingview.com/x/sgi9MeJ8
Graph H4:
The price of Bitcoin follows above the EMAs, above the BB center line and above the Ichimoku Cloud.
For the price of Bitcoin to continue its positive advances and stay above the price area of $33,000, it will be necessary that the price of Bitcoin stay above the EMA 20 or above the price area of $33,800 and $33,500.
The buyers are still in control of the situation and seem to be with the Bitcoin price in strong consolidations above the price area of $33,880.
It will be very important for buyers to move up the $34,500 and $34,680 price area for the next sessions to try again to overcome the strong resistance in the $34,800 and $35,000 price area.
Once these resistances are overcome, buyers will have to evolve the Bitcoin price above the $35,120 price area for new consolidations and with that the possibilities of advancing above the $35,460 price area may arise.
On the other hand, if buyers fail to advance up the $34,800 price area, sellers will be able to take advantage of the buyers' weakening again and get in control of the situation where they can create the disadvantages that can extend down the $34,000 price area again.
Buyers will have to defend the $33,660 price area because below this price area, sellers will gain more strength and will be able to understand these disadvantages down to $33,220.
It follows the buyers in the difficulty to give the continuity of positive advances upwards of the price area of $34,320 and $34,440.
The chart in H4 will follow all week to have a parameter of Bitcoin price evolution. Only the resistance and support adjustments will be made.
Resistances: U$ 34.421 // U$ 34.958 // U$ 34.408 // U$ 35.873.
Brackets: U$ 33.796 // U$ 33.288 // U$ 32.736 // U$ 32.242.
https://www.tradingview.com/x/iXr0rkT5/
Graph H1:
The price of Bitcoin follows above the EMAs, but inside the Ichimoku Cloud from where it needs to go out on top of it to give the continuity of positive evolutions above the price area of U$ 34,800.
It will be necessary for the price of Bitcoin to remain supported above the EMA 5 in order not to have disadvantages below it and with that it can extend until the EMA 20 where it will be below the price area of U$ 33,000.
Buyers need to advance upwards from the price area of $34,500 and $34,600 to continue to advance upwards from the price area of $34,800.
If buyers go into exhaustion for trying to move beyond the $34,500 and $34,800 price area, sellers will take advantage and take control of the situation.
Once in control of the situation, sellers will try to create the disadvantages below the $34,000 and $33,880 price area where buyers will have to bar the sellers because below these price areas the disadvantages may be even greater.
Follow the buyers in an attempt to evolve the price of Bitcoin up to the $34,250 price area.
Resistance: U$ 34.484 // U$ 34.752 // U$ 35.003 // U$ 35.235.
Supports: U$ 34.103 // U$ 33.934 // U$ 33.744 // U$ 33.494.
https://www.tradingview.com/x/pz6ctzb0/
Technical indicators: H1
RSI: The RSI on the BTC H1 chart time is at level 81 and with a bearish bias.
https://www.tradingview.com/x/sGb2fOAf/
MACD: The MACD on the BTC chart time is at the positive 197 level and biased upwards.
https://www.tradingview.com/x/y4YiCS34/
OBV: The OBV in BTC's H1 graphic time is at level 870 and low bias.
https://www.tradingview.com/x/9YgPycQW/
M5 Graph:
The price of Bitcoin follows below the central line of BB and wanting to leave under the Cloud of Ichimoku where if successful will return to the price area of $ 34,000 and $ 33,920.
It will be extremely important for buyers to try to keep the price of Bitcoin above $33,800 so as not to have major disadvantages below $33,720.
Resistance: U$ 34.166 // U$ 34.287 // U$ 34.382 // U$ 34.511.
Supports: U$ 33.990 // U$ 33.887 // U$ 33.766 // U$ 33.608.
https://www.tradingview.com/x/bjCVLu6d/
BTC 65.90 % dominance
T technique
R bait
A titude
D iscipline
E motional
R esilience
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nº285
