Bitcoin Price Evolution Analysis 04.12.2020
by CSM TRADER
nº246
BTC price U $ 19,342.
BTC price on Braziliex R $ 99,650.
Price USD / BRL R $ 5.15.
Price EUR / BRL R $ 6.26.
Gold Price 1g R $ 303.81.
Good morning to all readers.
The price continues to struggle with advances above the $ 19,380 price range, where this advance will be important in order not to start disadvantages below the $ 19,120 price range.
After days of highs it seems that the big correction has started; wait to see the outcome.
Bitcoin's price a few past sessions has even breached the $ 19,500 price range; however, it did not have the strength to continue positive advances above U $ 19,550 and with that the corrections came, which reached up to the price area of U $ 19,121.
Now at the time of writing, Bitcoin's price remains above the $ 19,300 price range and needs to continue consolidations above $ 19,120 and $ 19,200 for the possible return above the $ 19,420 price range and $ 19,500; and continues to struggle with an advance above the $ 19,400 price range.
It will be necessary for the price of Bitcoin to advance above the price range of U $ 19,360 and U $ 19,440 to continue positive developments and as a result, advances above the U $ 19,500 price range may occur and even extend above $ 19,580.
The price of Bitcoin needs for the next sessions to be above the EMA 100 (H1) to continue the consolidations and positive advances, because below the disadvantages will appear and may extend below the price area of $ 18,960 and with that move towards supporting $ 18,860 and $ 18,800.
A daily close was made above the $ 19,420 price range.
A good close of the daily above the price range of U $ 19,500 will be necessary for the continuation of positive developments and with that the probabilities of advances above U $ 19,700 and U $ 19,800 may arise.
A daily closing below $ 19,000 could complicate buyers' lives.
Buyers continue to struggle to keep Bitcoin's price above the $ 19,300 price range and thus disadvantages below $ 19,260 may arise and extend below those of the $ 19,120 and $ 19,000 price areas.
It will be important for buyers to advance and consolidate above the $ 19,380 price range in order to strengthen and thus continue positive advances above $ 19,440.
It is extremely important for buyers to be able to keep the Bitcoin price above the $ 19,120 price range for the next sessions or the disadvantages below the $ 19,000 and $ 18,880 price range may appear and still extend below the $ 18,800.
With sellers in control of the situation below the $ 19,000 price range, the disadvantages may extend below the $ 18,880 and even go after the $ 18,760 where below that the disadvantages may be much greater.
A daily close was made above the $ 19,420 price range.
For today, a daily close above the $ 19,200 price range will be a good size. Only a closing below U $ 18,920 cannot occur, because then the disadvantages may appear stronger.
It follows buyers in a “fight” with sellers to keep Bitcoin's price above EMA 100 (H1) or above the $ 19,000 and $ 18,800 price range.
Bitcoin TODAY on Braziliex: H1
Bitcoin's price today on Braziliex remains below the R $ 100,000 price range.
Bitcoin price on Braziliex remains in the $ 99,000 price range.
It will be necessary for the Bitcoin price on Braziliex to be at least above the price range of R $ 98,200 because below this price area the disadvantages may start to be much greater and thus may extend below the price area of R $ 97,500 .
The Bitcoin price on Braziliex needs to return the developments and consolidations above the R $ 100,200 price area for the next sessions to continue the attempt of evolutions above the R $ 102,000 and R $ 102,600 price area.
Buyers are facing difficulties with their developments above the price range of R $ 100,100.
It will be important for buyers on Braziliex to advance again above the price range of R $ 100,200 to move out of a risk area that is to stay with the Bitcoin price below the price area of R $ 99,000 and R $ 98,600.
If buyers fail in this evolution and consolidation above R $ 100,200, the disadvantages created by sellers may happen again and with that they even extend below the price range of R $ 98,600 and R $ 97,400 where buyers will have to stop sellers from any cost above the price area of R $ 97,000, as below this the disadvantages may be much greater.
It follows buyers in an attempt to bar sellers above the R $ 98,400 price range.
Resistances: R $ 99,840 // R $ 100,255 // R $ 100,722 // R $ 101,234.
Supports: R $ 99,004 // R $ 98,511 // R $ 98,017 // R $ 97,524.
RSI: It is at level 30 and has a downward bias.
https://www.tradingview.com/x/YTzUzu4b
Graph: H4
Bitcoin price remains below EMAs 5 and 20 and low for VWAP; however it still follows above the Ichimoku Cloud.
Bitcoin's price has just started a slightly stronger correction, after failing to make a positive advance above the $ 19,380 price range.
The price of Bitcoin in this correction has reached the price range of $ 18,898 and may have further negative corrections if the price of Bitcoin does not return consolidations above the price area of $ 19,120 for the next sessions.
It will be necessary for the Bitcoin price to return above EMA 20 for the return of positive advances above the $ 19,080 price area.
Buyers are in a “fight” with sellers below the $ 19,080 price range and buyers need to try to keep Bitcoin's price above the $ 18,880 and $ 18,800 price range in order not to lose their control of the situation.
With sellers in control of the situation below the price range of $ 18,880 and $ 18,800 the disadvantages created may reach the price area of $ 18,700 where buyers will have to bar sellers because below this price area sellers they will gain strength and thus create more disadvantages that could reach below the $ 18,660 price range.
It is extremely important for buyers to keep the Bitcoin price above EMA 50 (gray line) as below it the disadvantages could be much greater.
Follow the buyers now at the time of writing trying to get back in control of the situation above the $ 19,030 price range.
The chart on H4 will follow the whole week to have a parameter of Bitcoin price evolution. Only resistance and support adjustments will be made.
Resistances: U $ 19,102 // U $ 19,225 // U $ 19,356 // U $ 19,460.
Supports: U $ 18,905 // U $ 18,775 // U $ 18,647 // U $ 18,489.
https://www.tradingview.com/x/Ht8ZAthQ/
Graph: H1
The price of Bitcoin remains below the EMAs 5, 20 and 50 and also follows within the Ichimoku Cloud where it should stand out above it to continue the positive developments above the price range of $ 19,140 and thus the consolidations above of this price area may occur again and extend positively above the price area of U $ 19,200 and U $ 19,280.
It will be important that the price of Bitcoin does not return below the EMA 100, where it has already been tested just now, because below it the disadvantages may follow below the price area of $ 18,880, $ 18,800 and even $ 18,760.
Buyers continue with great difficulty to “detach themselves” from the EMA 100.
An advance above EMA 100 or above the price range of $ 19,100 for the next sessions will be extremely important for buyers as below these disadvantages will continue to occur and may extend below the price area of $ 18,800 and U $ 18,760 where buyers will have to try to stop sellers from having major disadvantages below these price areas.
It follows buyers with great difficulties in keeping Bitcoin's price above EMA 100.
Resistances: U $ 19,026 // U $ 19,117 // U $ 19,210 // U $ 19,303.
Supports: $ 18,891 // $ 18,800 // $ 18,707 // $ 18,604.
https://www.tradingview.com/x/gG3r03AE/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 23 and has a downward bias.
https://www.tradingview.com/x/sDoBIqgQ/
MACD: The MACD at the BTC chart time is at the -21 level with a downward bias.
https://www.tradingview.com/x/jhhs5zah/
OBV: The OBV at the BTC H1 chart time is at level 163 and has a bullish bias.
https://www.tradingview.com/x/esoYheN9/
Graph: M5
Bitcoin's price follows well below VWAP and below BB's central line.
The Bitcoin price needs to return above the $ 19,120 price range for the return of positive consolidations and developments above it for the next sessions.
But on the other hand, it seems that the Bitcoin price is facing a strong rejection above the price range of the $ 19,080 and $ 19,100 and with that the disadvantages below the price area of the $ 19,100 could continue to happen and still extend below the price range of $ 18,880 and $ 18,800 in the short term.
Buyers are losing control of the situation and as a result sellers are gaining more strength in keeping Bitcoin's price below the $ 19,000 price range.
Resistances: U $ 19,000 // U $ 19,071 // U $ 19,125 // U $ 19,188.
Supports: $ 18,939 // $ 18,887 // $ 18,836 // $ 18,778.
https://www.tradingview.com/x/ubGHM3gZ/
BTC dominance 62.14%
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nº246
