Bitcoin Price Evolution Analysis 02.12.2021

by CSM TRADER                                                                                                                 

 nº294

 BTC price U$ 47.700.  

BTC price at Braziliex R$ 256,000.

USD/BRL price R$ 5.36.

Price EUR/BRL BRL 6.49.

Price Gold 1g R$ 316.52.

Good morning to all readers.

The price follows in an uptrend above the price area of $46,500.

The price of Bitcoin a few sessions ago once again reached its historical price high, reaching the price area of $48,986.

The psychological price area is at U$ 50,000.

While the Bitcoin price has evolved each day to new ATHs, large investors are starting to get more and more attracted to the cryptocurrency market and many investing heavily in purchases.

Now at the time of writing, the Bitcoin price is in the $47,580 price area, after a negative correction to the $46,788 price area.

The Bitcoin price needs to get back above the $47,780 price area and the $48,000 resistance, in order to continue positive advances above $48,500 and with that the attempts to once again surpass the new ATH at $48,986 may arise; and positive developments above $49,000 may occur and extend above $49,280.

Of utmost importance for the coming sessions, that the Bitcoin price stays above the $47,000 price area to give the continuities of positive evolutions above the $48,000.

In the case mentioned above, if the Bitcoin price once again corrects negatively below the $47,000 and $46,740 price areas, the negative corrections could this time extend below $46,500, and with that, still pull below $45,220, where a breakout at $45,000 could trigger a correction up to the $44,500 price area.

Importantly, the price of Bitcoin of its continued positive developments above the EMA 20 for the next few sessions.

A daily close was made above the price area of $47,970.

For today good and necessary daily close will be above U$48,000 and U$48,120.

Buyers are trying to regain control of the situation above the BB centerline, where it looks like they will succeed and continue positive moves above $48,000.

The buyers in will face some heavier resistance along the way, such as the $48,000 and $48,460 where once they get past that continuity of attempts for another new ATH above $48,986 will be completed.

If buyers fail to evolve the Bitcoin price above U$48,000 and U$48,120 in the short term, sellers will be able to take advantage and get back in control of the situation and thereby create downsides to below U$47,220 and U$47,000.

In the case mentioned above, buyers will have to find a way to stop sellers above $47,000, as below this price area the downside could continue below $46,680.

If buyers break through the big resistance of $49,500, the possibility of advancing towards $50,000 will be closer than ever.

Follow the buyers now at the time of writing with difficulty advancing above the $47,500 price area.

Bitcoin TODAY at Braziliex: H1

Bitcoin price today on Braziliex, is trending well above the $252,600 price area and with excellent accumulation.

The Bitcoin price on Braziliex has made another new historic high in its price in Brazil, where it has reached the R$263,000 price area.

Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$ 259,986 price area.

It will be important for the Bitcoin price of its continued accumulations and evolutions above the R$250,000 and R$254,600 price areas; where attempts at a new ATH may occur; as below R$252,000 negative corrections may begin to emerge.

We have the psychological price area which is at R$300,000; which seems to be not impossible.

The buyers in Braziliex continue with excellent consolidations and developments above the R$250,000 price area.

It will be necessary for the buyers to keep the Bitcoin price above the R$250,000 to not let the sellers get into full control of the situation, where they can create the downside below the R$248,000 and R$247,600.

Follow the buyers at Braziliex in their attempts to evolve with the Bitcoin price upwards of the R$260,000 and R$261,800 price areas.

Resistances: R$ 260,023 // R$ 261,124 // R$ 262,203 // R$ 263,000. 

Supports: R$ 258,922 // R$ 257,052 // R$ 255,934 // R$ 254,249.

https://www.tradingview.com/x/fr3Rl0WE

H4 chart:

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

The Bitcoin price needs to continue its positive developments upwards from the VWAP where it is now already exiting slightly above it.

It is necessary for the Bitcoin price to continue positive advances upwards from the price area of $47,500 and $47,880 for the next few sessions.

Negative advances below $47,000 could extend into the $46,780 and $46,500 price areas.

Buyers remain in control of the situation and need to continue consolidations and positive advances upwards from the $47,660 and $47,880 price areas.

Of utmost importance for buyers to get Bitcoin's price back above $48,000.

If buyers fail to evolve above $48,000, sellers could take control of the situation below $47,320, and with that, they could force downside below $47,000; where if they succeed they will create more downside below $46,660 and $46,500.

Follow the buyers as they attempt to move the Bitcoin price above the $47,800 price area.

The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.

Resistances: U$ 47,170 // U$ 47,866 // U$ 48,682 // U$ 49,412.

Supports: u$ 46,493 // u$ 45,936 // u$ 44,941 // u$ 44,106.

https://www.tradingview.com/x/bZCwx40z/

 H1 chart:

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

The Bitcoin price needs its continued positive developments upwards from the price areas of U$47,880 and U$48,120.

Only a good, consolidated advance by buyers with the Bitcoin price above $48,220 will be able to provide the continuity of advances upward from this price area.

Buyers are looking for another new ATH in the price area of $48,986 where they will be able to continue positive developments upwards to the price areas of $49,000 and $49,120 where they will find a strong resistance to be overcome which is in the price area of $49,500.

A new HTA above $50,000 by buyers could be on the way and still pulling above $51,000.

If buyers fail in the short term advances above $48,000 the downside created by sellers could arise and extend below $47,360 where buyers will have to bar sellers above $47,000 to not have major downside below this price area.

Follow the buyers in the U$47,680 price area and in an attempt to evolve the Bitcoin price above the U$47,880 and U$48,000 price area.

Resistances: U$ 47,713 // U$ 47,991 // U$ 48,255 // U$ 48,541.

Brackets: U$ 47,303 // U$ 46,993 // U$ 46,621 // U$ 46,196.

https://www.tradingview.com/x/bdklh85W/

Technical indicators: H1

RSI: The RSI on the H1 time chart of BTC is at the 22 level and with a bullish bias.

https://www.tradingview.com/x/Uqh01aBC/

MACD: The MACD on BTC's chart time is at the positive level 270 and with small bearish bias.

https://www.tradingview.com/x/aV0ePeRI/

OBV: The OBV on BTC's H1 chart time is at level 1 and stabilized.

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

M5 chart:

Bitcoin price is above the BB centerline above the Ichimoku Cloud, however below the VWAP where an advance above it will be needed.

Buyers are presenting great difficulties in evolving the Bitcoin price above $47,800.

Only a good advance by buyers above $48,120 to get out and a risk area that is staying with the Bitcoin price below $47,320.

Follow the buyers in the consolidations above U$ 47,000.

Resistances: U$ 47.608 // U$ 47.682 // U$ 47.789 // U$ 47.877.

Supports: u$ 47.535 // u$ 47.467 // u$ 47.360 // u$ 47.244.

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

BTC dominance 61.24 %.

"Does not trade against the trend. " ------ Diógenes Campos

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nº294