Bitcoin Price Evolution Analysis 01.31.2022

by CSM TRADER                                                                                                                 

 Nº 495

BTC price U$ 48.262.  

Price USD/BRL R$ 5.57.

Price EUR/BRL R$ 6.31.

Price Gold 1g R$ 324.22.

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The price of Bitcoin follows an uptrend above the $48,100 price area and the 100 EMA (H1).

The price of Bitcoin in past sessions has been in consolidations between the $46,800 and $47,600 price areas.

After hours of consolidations the Bitcoin price a few sessions past, had a strong positive move upwards from the U$47,500, U$48,000 and U$48,360 price areas, even testing the U$48,575 price area.

Now at the time of writing, the Bitcoin price is tracking in the U$48,350 price area.

It will be important for the Bitcoin price to follow above the 100 (H1) EMA and manage to advance above the 200 (H1) EMA for the next few sessions.

If the Bitcoin price manages to open a new candle above the EMA 200 (H1) and holds with further consolidations above it, positive developments will go above the $49,000 price area, where the possibilities of continued positive advances above $49,500 and attempted positive advances above $50,000 could occur.

The Bitcoin price will go for tests to overcome the EMA 200 (H1) for the next few sessions, where it will be of utmost importance to conquer it, because if the Bitcoin price fails in these attempts, the downside corrections could come back below the price areas of $48,120, $47,780, and $47,500; where we have the Ichimoku Cloud Ditch at the $47,200 price area, and the possible downside corrections could continue to below the Ichimoku Cloud.

Only above the EMA 200 (H1) and with further consolidations above it for the Bitcoin price to go above the price areas of $48,880 and $49,220, where the possibilities of positive developments above $50,000 continue.

Buyers are back in control of the situation, but still need the continuities of positive advances upwards from the U$48,780 and U$49,000 price areas to begin to move out of a risk area of the returns of negative corrections downwards from the U$48,120 and U$47,780 price areas.

Major areas of Resistance - $48,560, $48,880 and $49,220.

Major Support areas - U$48,220, U$48,000 and U$47,666.

H4 chart :

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

The Bitcoin price needs to stay above the EMA 50 for further consolidations to be made so that positive developments can follow above the $49,000 and thus stay above the EMA 100 and still above the Ichimoku Cloud Base Line.

If the Bitcoin price fails to move above the EMA 100 or even above the EMA 50, the negative corrections could move back below the EMA 20 (yellow line) and test the EMA 5 (green line), or even the $47,500 price area.

Only above the 48,600 or even above the EMA 50 (gray line) for the Bitcoin price to leave a risk area of the negative corrections returns to below $48,000.

Remembering that the Bitcoin price will still face the Ichimoku Cloud, where if it manages to stay above the EMA 50 and 100, it could climb out of the Ichimoku Cloud to a passage further ahead and with that, the positive developments could continue above $49,500 and $50,000.

Buyers are still trying to continue with positive moves above the EMA 50 where a test has already been made.

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

Resistances: U$ 48.582 // U$ 49.011 // U$ 49.509 // U$ 50.106.

Supports: U$48,017 // U$47,546 // U$46,762 // U$46,083.

https://www.tradingview.com/x/4QY4mGaQ/

H1 chart :

Bitcoin price follows above the EMA 20, 5 and 50 and above the Ichimoku Cloud, however it follows below the EMAs 100 and EMA 200.

The Bitcoin price needs to be able to move above the EMA 200 for continued positive developments and consolidations to move above $49,000 for the next few sessions.

If the Bitcoin price fails to make these positive advances above $49,000 or even above the EMA 200, the negative corrections could come back below $48,220 and $47,780.

Only above the EMA 200 for the Bitcoin price to achieve the positive advances necessary to enter the price area of $49,000 and $49,500, and exit a risk area of negative corrections.

It follows the buyers in the fight with the sellers to try to follow with the continuities the positive developments upwards of the EMA 200.

Resistances: U$ 48.582 // U$ 48.981 // U$ 49.342 // U$ 49.747.

Supports: U$ 47.866 // U$ 47.597 // U$ 47.257 // U$ 46.976.

https://www.tradingview.com/x/4JVW20EJ/

Dominance: 41.06 %.

"Your excuses are nothing but lies that your fears have told you.  ----- Robin Sharma

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Nº 495