Bitcoin Price Evolution Analysis 03.12.2021

by CSM TRADER                                                                                                                

 nº311

 BTC price U$ 56.366.  

BTC price at Braziliex R$ 318.907.

USD/BRL price R$ 5.53. 

Price EUR/BRL BRL 6.59.

Price Gold 1g R$ 309.60.

Good morning to all readers.

Bitcoin price is still in a downtrend below the price area of $56,800.

The Bitcoin price a few sessions ago failed again to break through the historical top at the $58,354 price area, coming very close where it tested the $58,150 price area.

After failing to continue above U$58,200, the Bitcoin price went into negative corrections downwards from the U$57,000 and U$56,500 price areas.

Now at the time of writing, the Bitcoin price is tracking in the U$56,147 price area where it could continue negative corrections to below U$55,500.

Bitcoin price needs to hold above the U$54,474 price area or above the 100 EMA.

If the Bitcoin price advances below the U$54,474 price area the negative corrections could extend below the U$54,000 and U$53,600 price areas; where, a stop above U$53,000 would be necessary to not take further losses below U$52,500.

If Bitcoin's price stops negative corrections above the U$55,500 price area or even above the Ichimoku Cloud (H1), positive evolutions could happen again where it could evolve back above the U$56,000 and U$57,320 price areas for the next few sessions.

Only a good and consolidated advance above $57,660 for the attempts of a new breakout in the ATH and positive evolutions and new ATH could occur.

A good daily close was made above the $57,770 price area.

For today a daily close above the $56,360 price area would be very important.

Sellers remain in total control of the situation below the $56,800 price area.

Buyers have once again failed to break above the $58,354 price area where sellers have taken control of the situation and continue so far with their downside to below the $56,000 price area.

It will be of extreme importance for buyers to try to stop sellers above the price area of $55,000 and $54,500, as below these price areas sellers will gain more strength where they can continue their downside below $54,000 and $53,740.

Only a good, consolidated advance by buyers above the EMA 50 to get out of a risk area and further losses.

Buyers are still trying to get the Bitcoin price back above the EMA 50 and still have to stop sellers above the $55,500 price area.

Bitcoin TODAY at Braziliex: H1

Bitcoin price today on Braziliex continues in an uptrend above the $314,200 price area.

Bitcoin price on Braziliex continues strong consolidations above the R$300,000 price area.

It will be necessary for the Bitcoin price on Braziliex of its continued consolidations above the R$ 310,000 price area, so that the possible positive developments above the R$ 320,000 and R$ 326,220 can occur, and with that, the possibilities of a new breakthrough for the breakout attempts at the ATH of R$ 330,000 can arise and extend above the R$ 336,000.

If the Bitcoin price on Braziliex comes up short of positive evolutions above the $320,000 and $326,000, negative corrections could emerge again below the $318,000 and $316,500 price areas.

Now at the time of writing, the Bitcoin price on Braziliex remains above the $319,200 price area and needs to make its continued positive advances above $322,000 in the near term.

Buyers on Braziliex remain in full control of the situation above the R$300,000 price area.

It will be important for buyers to keep the price of Bitcoin above the R$310,000 price area, so that they do not begin to have the downside created by sellers below this price area, where it could still go below R$308,000.

Follow the buyers in the attempt of positive developments above the R$ 322,000.

Resistances: R$ 319,280 // R$ 321,412 // R$ 323,069 // R$ 324,991. 

Supports: R$ 315,910 // R$ 312,758 // R$ 310,223 // R$ 307,732.

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

H4 chart:

Bitcoin price follows above the EMAs and above the Ichimoku Cloud, but slightly below the VWAP.

Bitcoin price needs to stay sustained above the EMA 5 (green line), for the next few sessions.

Bitcoin price is coming back with its positive developments above the $57,000 price area, after testing the $55,820 price area.

Now at the time of writing, the Bitcoin price is tracking in the U$59,916 price area.

It will be important that the Bitcoin price of its continuation of positive moves upwards from the U$56,780 and U$57,220 price areas where it will have to make good new consolidations between these price areas to give its continuation of positive moves upwards from the U$57,500 and U$57,770 price areas; where it will be a great selling area to overcome.

If the price fails to move above $57,500 the negative corrections could come back below $56,800 and $56,660.

Buyers need to continue their positive developments with the Bitcoin price moving above the $57,220 price area.

If the buyers fail in these positive developments, the sellers will take control of the situation where they can create the downside below $57,000 and $56,880, where, the buyers will have to bar the sellers from further losses below $56,500.

Follow the buyers in an attempt to move Bitcoin's price above $56,960.

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

Resistances: U$ 57.098 // U$ 57.679 // U$ 58.174 // U$ 58.856.

Supports: u$ 56,416 // u$ 55,733 // u$ 55,118 // u$ 54,453.

https://www.tradingview.com/x/50Ffrrmu/

H1 chart:

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

The Bitcoin price needs to continue positive developments above the EMA 20 in the near term.

If the Bitcoin price manages to advance above the BB centerline the continuities of positive evolutions above the $57,120 price areas which would be of extreme importance in the short term.

If the Bitcoin price does not achieve these advances above the BB centerline, corrections could again emerge below $56,660.

Only a good and consolidated advance above $57,220 for the Bitcoin price to continue its consolidations and with that the evolutions above $57,500 and $57,770 will emerge.

Sellers are still in control of the situation with the Bitcoin price below the BB centerline, where it is their territory.

Only a good, strong advance by buyers above the BB centerline and above $57,220 will give them control of the situation for good and bring them back to trying to move above the $57,770 and $58,120 price areas.

If sellers remain in control of the situation below the BB centerline they may try to retest the EMA 50.

Follow the buyers in the difficult job that will be to hold the sellers above the U$56,500 price area and evolve the Bitcoin price above U$57,120.

Resistances: U$ 56.705 // U$ 56.955 // U$ 57.316 // U$ 57.556.

Supports: u$ 56,274 // u$ 55,913 // u$ 55,472 // u$ 55,042.

https://www.tradingview.com/x/wSA3wKAr/

Technical indicators: H1

RSI: The RSI on the H1 chart timeframe for BTC is at the 7.85 level and with small bullish bias.

https://www.tradingview.com/x/1D0EoNQZ/

MACD: The MACD on BTC's H1 chart time is at the positive level 97 and with a bearish bias.

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

OBV: OBV on BTC's H1 chart time is at the 1.077 level and with a bearish bias.

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

M5 chart:

Bitcoin price is below the BB centerline, below the VWAP and still below the Ichimoku Cloud.

It will be of utmost importance for the Bitcoin price to resume positive developments above the Ichimoku Cloud in the short term so as not to have the continuation of more negative corrections below the Ichimoku Cloud.

Buyers need in the short term a resumption of control of the situation so as not to have more downside with sellers below the $56,400 price area.

Follow the buyers in an attempt to bar sellers above the $56,120 price area.

Resistances: U$ 56.549 // U$ 56.650 // U$ 56.727 // U$ 56.810.

Supports: u$ 56.442 // u$ 56.354 // u$ 56.208 // u$ 56.085.

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

BTC dominance 61.90%.

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nº311