Bitcoin Price Evolution Analysis 01.04.2022

By CSM TRADER | CSM TRADER | 4 Jan 2022

Bitcoin Price Evolution Analysis 01.04.2022

by CSM TRADER

Nº 497

BTC price U$ 46.498.

USD/BRL price R$ 5.68.

Price EUR/BRL R$ 6.42.

Price Gold 1g R$ 326.20.

Good morning to all readers.

2022 and BTC :

Many people are starting to look at cryptocurrency as a way to shop, save money, make money and invest for the long term. Many things influence why this is happening, but all the talk cannot refute the numbers, and numbers don't lie. With Bitcoin leading the way, crypto has managed to outperform gold for the third year in a row. Could this come from the increase in digital assets as the world shifts to electronics or from inflation? One thing we do know is that the S&P 500 index rose 28% and gold fell 7% in the same period, marking the third year in a row that Bitcoin has outperformed both, according to a report by Arcane Research. That doesn't mean that Bitcoin will be more valuable than gold.

The NFT Boom

NFTs have begun to dominate mainstream art, as collectors and investors have found themselves in the middle to see the new rush. Non-fungible tokens, commonly known as NFTs, began to gain more momentum - generating more than $23 billion in turnover - a frenzy of less than $100 million recorded in 2020, according to data from DappRadar. This wave will likely continue as many artists and companies begin to join in; will this usher in a new wave of investors just entering the digital age?

We also know that in America crypto was a hot topic for many people as it made billions all over the map. Investors in the United States have made an estimate of $4.1 billion in realized gains from bitcoins in 2020, according to a new report by software company Chainalysis. Numbers for the 2021s will likely exceed that number as well.

Digital Wallets Vs Banks....

Digital wallets allow you to store and transfer crypto funds like a bank account. Many offer substantial incentives and aggressive interest rates, plus physical cards you can use anywhere. About 150 million adult Americans say they have exchanged cash and credit through digital wallets at least once, and given the growth of hot wallets like Metamask, don't be surprised to see that number continue to grow.

Not all referenced digital wallets are inherently crypto, but banks are starting to add these features to get up to speed. On top of all these numbers, Blockchain.com wallets , which allow Bitcoin purchases, reached over 70 million wallet users by the end of March 2021 - so we know things are growing.

As time passes, we will unlock more statistics to see who will win the fight; and with the world facing a pandemic, many people are turning to these wallets in efforts to multiply investments and stay on top of trading. Can crypto be the future of the economy, or will it be a step in the same line as other assets?

The Bitcoin price is still in a downtrend below the $47,000 price area and below the 100 EMA (H1).

The Bitcoin price in past sessions failed to follow through with positive moves upwards from the $47,600 price area, and went into negative corrections downwards from the $47,000, $46,500 and $46,000 price areas, and even testing once again the "bearishness", of the $45,665 price area.

Now at the time of writing the Bitcoin price is in the $46,490 price area.

It will be necessary for the Bitcoin price to continue its positive developments upwards from the price area of U$ 46,500 and U$ 47,000, and thus move upwards from the EMA 100 (H1) to avoid the loops of the tests in the "support" of the U$ 45,500 price area.

The Bitcoin price will still have the Ichimoku Cloud Base Line in its path, where it should stay above it for the next few sessions for the possible positive moves towards the EMAs 50 and 100 (H1).

If the Bitcoin price comes to fail in these positive advances above the EMA 100 (H1), or even above the Ichimoku Cloud Base Line, the downside corrections will come back to test in the "bracket" in the $45,500 price area, where this time a break below it could occur.

If the breakout of $45,500 occurs the downside corrections will gain strength and continue below $45,000 and $44,500, where tests in the $43,780 price area will occur.

Only above the EMA 100 (H1) and with further consolidations above it, for the Bitcoin price to move out of a risk area the negative corrections to below U$ 46,120.

A Journal close was made above the U$ 46,440 price area.

A close above the $47,000 price area would be important for today.

Follow the buyers in their attempts to keep the Bitcoin price above the EMA 5 and 20.

Major Resistance areas - U$46,500, U$46,880 and U$47,120.

Major Support areas - $46,220, $46,000 and $45,800.

H4 chart :

Bitcoin price follows below the EMAs and below the Ichimoku Cloud.

Bitcoin price needs to get back above the 5 and 20 EMA in the near term for further consolidations, and attempt the positive moves above $47,000, where it will still have to stay above the Ichimoku Cloud Base Line for further positive moves to be made and advance above $47,220, for the next few sessions.

If the Bitcoin price fails in these advances above the Ichimoku Cloud Base Line or even above the 100 EMA (H1), negative corrections could come back below $46,500 and $46,120, where tests in the $45,600 price area will take place.

Follow the buyers in attempts to evolve the Bitcoin price above U$ 46,700 and U$ 46,880, or even above the 5 and 20 EMA.

The chart in H4 will follow all week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.

Resistances: U$ 46.781 // U$ 47.268 // U$ 47.708 // U$ 48.179.

Supports: U$ 46.246 // U$ 45.913 // U$ 45.659 // U$ 45.171.

https://www.tradingview.com/x/vQKlAxUc/

H1 chart :

The price of Bitcoin follows above the 5 and 20 EMAs and slightly below the 50 EMA, but it follows below the Ichimoku Cloud and below the 100 and 200 EMAs.

The price of Bitcoin has already made the breakthroughs above the 5 and 20 EMAs and above the Ichimoku Cloud Base Line.

It will be of utmost importance now in the near term, that the Bitcoin price stays above them and still manages to stay supported above the 50 EMA, where further consolidations should be made to move on to attempts to stay above the 100 EMA; where a pass through the Ichimoku Cloud could occur for the next few sessions.

If the Bitcoin price fails to stay above the EMA 50 or even above the Ichimoku Cloud Base Line, downside corrections could come back below $46,220 and $46,000.

Only above the EMA 100 for the Bitcoin price to be able to advance above the U$47,000 and U$47,220, where another attempt to break through the U$48,000 could emerge.

Follow buyers above the Ichimoku Cloud Base Line and need to gain the EMA 50.

Resistances: U$ 46.709 // U$ 46.908 // U$ 47.123 // U$ 47.309.

Supports: U$ 46.472 // U$ 46.228 // U$ 46.027 // U$ 45.785.

https://www.tradingview.com/x/HraIvUTA/

Dominance: 40.66 %.

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