Bitcoin Price Evolution Analysis 04.01.2021
by CSM TRADER
nº266
BTC price U $ 30,950.
BTC price on Braziliex R $ 163,898.
Price USD / BRL R $ 5.19.
Price EUR / BRL R $ 6.38.
Gold Price 1g R $ 316.25.
Good morning to all readers.
Happy 2021 for everyone.
Yesterday it was 12 years since Satoshi Nakamoto gave Bitcoin life by mining the first Genesis block. Bitcoin, after 12 years since it was created, continues to grow stronger and attracting the attention of the world and major financial companies. The biggest proof of this feat was the price of Bitcoin reaching its highest ATH which was in the price range of U $ 34,780 and in Brazil it reached R $ 180,000. Bitcoin's market value has also surpassed that in Warren Buffett's company Berkshire Hathaway, where Bitcoin's price has reached a market value of more than $ 600 billion.
Bitcoin price follows a downward trend below the $ 32,000 price range.
The price of Bitcoin made yet another all-time high, reaching the price range of $ 34,780 and tried to overcome this price area to advance above $ 35,000; but without success.
In the case mentioned above the price of Bitcoin failed and came to correct arriving at the price range of U $ 32,260 where it tried once again to turn over the price area of U $ 32,360 where it also failed in these evolutions, and with that , a small correction started up to the $ 32,400 price area and so the Bitcoin price again tried to exceed the $ 33,600 price area and failed again.
And now at the time of writing, the Bitcoin price follows a strong correction below the $ 29,500 price range, where it has already tested the $ 28,110 price range.
The price of Bitcoin could fetch the price areas well below U $ 27,500 and U $ 27,000 if there is a continuation of corrections below U $ 29,200.
Bitcoin's price needs to stay above the $ 26,400 and $ 26,000 price areas in order not to continue the correction below the $ 25,500 and $ 24,800 price area and may still extend below $ 23,700.
The Bitcoin price needs to go back above the $ 30,000 and $ 30,120 price range for consolidation and evolution rounds above this price area and go in search of the $ 31,120 and $ 31,320 price range for next sessions.
A daily close was made above the price range of $ 32,999.
For today, a close above the price range of U $ 26,600 and U $ 27,220 would be good.
Sellers remain in complete control of the situation with the Bitcoin price below the $ 30,000 price range.
Buyers went to exhaustion to exceed the $ 33,600 price range and thereby gave the opportunity for sellers to get in control of the situation where they started creating disadvantages below the $ 32.00, $ 30,000 price areas and now at the time of writing, sellers follow the price of Bitcoin in the price range of $ 29,300.
Sellers have already tested the $ 28,127 price range where they can still go back and further lower Bitcoin's price below the $ 27,600 price range and go in search of strong support in the $ 26,500 price range.
Buyers will have to return developments above the $ 30,000 price range for the next few sessions to move out of a risk area that is below $ 29,900.
A daily close was made above the price range of $ 32,999.
For today, a good close would be above the price range of U $ 27,600.
It follows buyers in an attempt to bar sellers from above the $ 29,000 price range; which can be very difficult for the next sessions.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin on Braziliex has again made the biggest historical increase in Brazil, reaching the price range of R $ 180,000.
The Bitcoin price on Braziliex went into exhaustion due to attempts to overcome the historical Bitcoin price area and as a result it is in strong correction below the price range of R $ 160,000.
Now at the time of writing the Bitcoin price on Braziliex follows the price range of R $ 158,554 where it has already tested the price area of R $ 151,300.
The price of Bitcoin on Braziliex is expected to be above the price range of R $ 150,000 for the next sessions, in order to have no further disadvantages below this price area and may reach below R $ 144,400.
In the price area of R $ 136,600 there is strong support and the price of Bitcoin on Braziliex should be above it to avoid major disadvantages below this price area.
Buyers went into exhaustion due to attempts to overcome the historic high in the price range of R $ 180,000, and with that the sellers came into control of the situation and created disadvantages below the price areas of R $ 170,000 and R $ 160,000 where these disadvantages were extended up to the price range of R $ 151,300.
Now in writing, buyers are still trying to get back in control of the situation above the R $ 160,000 price range.
Buyers need to keep the Bitcoin price above the price range of R $ 164,000 and R $ 165,000 for the return of consolidations and developments above these price areas.
In the case mentioned above, if the sellers continue negative developments below the price areas of R $ 160,000 and R $ 155,500, they may gain more strength and with that the possibilities of re-testing or even go below the price area of R $ 151,800 may come up.
It follows buyers in attempts at positive developments above the R $ 160,000 price range.
Resistances: R $ 165,158 // R $ 169,670 // R $ 175,743 // R $ 180,055.
Support: R $ 159,797 // R $ 155,665 // R $ 151,214 // R $ 146,340.
https://www.tradingview.com/x/Vuo6yvAi
Graph: H4
Bitcoin's price remains above the EMA 50 and 100 and above the Ichimoku Cloud; but below EMA 5, 20 and below VWAP.
Bitcoin's price will have to remain above the $ 30,000 price range in order not to have disadvantages again below $ 29,600 and $ 29,000.
It will be extremely important that the price of Bitcoin return its consolidations above the price range of $ 30,400 and $ 30,600 to get out of a major risk area of more disadvantages which is to stay below $ 30,000.
Buyers try to regain control of the situation above the $ 30,000 price range.
It will be important for buyers to evolve over the area and price of $ 30,200 for the next sessions in order not to have the disadvantages created by sellers below the price area of $ 29,600 and $ 29,000.
It follows buyers in an attempt to keep Bitcoin's price above the $ 30,120 price range.
Resistances: U $ 30,306 // U $ 31,299 // U $ 32,134 // U $ 33,062.
Support: U $ 29,443 // U $ 28,206 // U $ 26,999 // U $ 25,731.
https://www.tradingview.com/x/U7BCmCtf/
Graph H1:
Bitcoin's price remains below the EMAs and below the Ichimoku Cloud.
For the continuation of positive developments, the Bitcoin price needs to evolve above the $ 30,120 and $ 30,440 price areas to return attempts at consolidations and advances above $ 30,550.
If the price of Bitcoin falls below $ 30,000 and $ 29,800, the chances of further negative advances below $ 29,600 and $ 29,000 could re-emerge and still extend below $ 27,880. and $ 27,660.
Buyers try to regain control of the situation by keeping Bitcoin's price above the $ 30,000 and $ 30,120 price areas.
On the other hand, if sellers regain control of the situation below $ 29,900, the disadvantages created by them may extend below $ 29,700 and $ 29,550.
It follows buyers in an attempt to hold the Bitcoin price above the price range of $ 30,220 and $ 30,450.
Resistances: U $ 30,577 // U $ 31,103 // U $ 31,540 // U $ 31,991.
Support: U $ 29,990 // U $ 29,358 // U $ 28,757 // U $ 28,155.
https://www.tradingview.com/x/jPo5dOiT/
Technical indicators: H1
RSI: The RSI in the BTC chart's H1 time is at level 13 and has a bullish bias.
https://www.tradingview.com/x/i1lZEFHE/
MACD: The MACD at the BTC chart time is at the negative level -530 with a downward bias.
https://www.tradingview.com/x/zDUB6cwE/
OBV: The OBV at BTC's H1 chart time is at level 421 and has a small bearish bias.
https://www.tradingview.com/x/qWMovCWo/
Graph: M5
Bitcoin's price remains below the VWAP and below the Ichimoku Cloud, but is still above the central line (red line) of BB.
The price of Bitcoin needs to remain above the $ 30,000 price range for the next sessions and keep its consolidations and positive developments above $ 30,120 in order to have no further disadvantages below $ 29,880 and $ 29,720.
It follows buyers trying to evolve over $ 30,600.
Resistances: U $ 30,765 // U $ 30,972 // U $ 31,212 // U $ 31,355.
Support: U $ 30,494 // U $ 30,247 // U $ 30,039 // U $ 28,800.
https://www.tradingview.com/x/nuIiRVvo/
BTC dominance 69.04%
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nº266
