Bitcoin Price Evolution Analysis 04.01.2021

by CSM TRADER                                                                                                                

 nº325

 BTC price U$ 58.460.  

BTC price at Braziliex R$ 330.200.

USD/BRL price R$ 5.63. 

Price EUR/BRL R$ 6.61.

Price Gold 1g R$ 312.83.

Good morning to all readers.

The Bitcoin price is still in an uptrend above the $58,000 price area and above the 100 EMA (H1).

The Bitcoin price several times tried to break through the major resistance at the $60,000 price area, without success.

The price of Bitcoin after several attempts to break through the price area of $60,000 came to correct and headed below the price area of $59,000 and $58,800, where it has now just tested the price area of $58,114 and is recovering above $58,500.

Now at the time of writing the Bitcoin price is in the U$58,628 price area.

It will be important that the Bitcoin price returns with its consolidations and positive moves back above the $59,220 price area for the next few sessions, where the attempts to move above the $59,500 price area may occur again and with that the attempts to break back into the $60,000 price area may arise.

If the price of Bitcoin does not manage to return with its positive developments above $59,000 in the short term, the negative corrections could continue below the $58,500 and $58,000 price areas, where a test in the $57,780 and $57,500 price areas could occur, where not stopping above $57,120, the negative corrections could continue below $56,780.

Only a good, consolidated advance above $60,000 will allow Bitcoin's price to continue back to the $60,000 level and seek its ATH in the $61,844 price area.

A daily close above U$60,000 would be good for consolidations and positive developments, and attempts at developments above U$61,000 will occur.

The Monthly closed very well, above the $58,900 price area.

The daily closed above the $58,710 price area.

For today a good close would be above the $58,800 price area.

Follow the buyers in an attempt to get Bitcoin's price back above the $59,000 price area.

Bitcoin TODAY at Braziliex: H1

The price of Bitcoin today on Braziliex continues in an uptrend above the $322,500 price area.

The Bitcoin price at Braziliex a few sessions ago, failed to continue its positive developments above the price area of $ 338,000, and with that, came the negative corrections down from the price areas of $ 336,000, $ 332,000 and $ 330,000, where just now came to test the price area of $ 327,701.

It will be very important that the price of Bitcoin returns with its consolidations and positive developments above the R$ 330,000 and R$ 332,440 price areas in the short term, to get out of a risk area of continuity of more negative corrections, where these could extend below the R$ 326,600 and R$ 324,500.

Only a good and consolidated positive advance above R$ 335,660 for the Bitcoin price to return the attempts to overcome the resistance of R$ 338,000 and R$ 340,000.

Resistances: R$ 335,042 // R$ 336,549 // R$ 337,804 // R$ 339,116. 

Supports: R$ 332,028 // R$ 330,103 // R$ 327,717 // R$ 324,903.

https://www.tradingview.com/x/6ZXNuzvX

H4 chart:

Bitcoin price follows slightly below the EMA 5 (green line) and the VWAP (purple line), and above the Ichimoku Cloud, above the BB center line (red line), above the EMA 20 (yellow line), above the EMA 50 (gray line), above the EMA 100 (white line) and above the EMA 200 (pink line).

It will be of utmost importance that in the short term the Bitcoin price gives its continuity of positive developments above the EMA 5 and above the VWAP, so that the positive developments will give its continuity back above the $59,000.

If the Bitcoin price continues its negative corrections downwards from the $58,800 and $59,000 price area, these negative corrections could extend below $58,220 and $58,000 and further downwards from the $57,500 price area.

Only a good, strong advance above $59,360 for the Bitcoin price to break out of a risk area and avoid further downside for the coming sessions.

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

Resistances: U$ 58.737 // U$ 59.202 // U$ 59.637 // U$ 60.136.

Supports: u$ 58.426 // u$ 58.019 // u$ 57.548 // u$ 56.910.

https://www.tradingview.com/x/DAd45vfK/

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nº325