Bitcoin Price Evolution Analysis 07.01.2022

by CSM TRADER          

 Nº 500

BTC price U$ 42.290.  

Price USD/BRL R$ 5.68.

Price EUR/BRL R$ 6.43.

Price Gold 1g R$ 328.35.

Good morning to all readers.

My dear friends of the Braziliex Group and TV; one more wonderful cycle of my life is ending and I inform you all that today 06.01.2022 with 500 Analyses counted; out when I started, is being my last Daily Analysis of the "Bitcoin Price Evolution Analysis".

I want to immensely thank my wife C.S.C who has always supported me since the beginning, Ricardo, Marcelo, Monica and all the Braziliex Team where it all began, and all here in the Group for the affection and understanding they have always had with me.

With great pride, dedication and study I always wanted to deliver my best daily "Bitcoin Price Evolution Analysis" possible.

I thank all my followers and non-followers and especially my 432 followers on TV, who follow me for many years and sent the famous like on TV, I especially thank my friends from TV; @FatimaNobre, @Frmg, @Tio_Patinhas_BR, @GFauth, @Cryptocompar, @codepenna, @GuilhermeLN, @murillobatera, @junior_timao, @edbng, @jeaneplu, among many others.

I learned and learn a lot with all of you.

It was very rewarding and a huge learning to do my daily analysis, always with great dedication and responsibility.

I thank you all once again for all the learning that I always had with all of you, and I always received the greatest affection as well.

Thank you very much, everybody.

GameStop and NFT :

According to the WSJ story, the company has employed more than 20 people to oversee the unit, which is developing an online hub to buy, sell and trade NFTs of virtual video game artifacts, and also avatar clothing.

GameStop launched its NFT site last year and has been inviting

creators to join the platform.

The company is also close to signing agreements with two crypto startups to exchange technology and co-invest in the creation of blockchain and NFT-based games, as well as other NFT-related initiatives. According to the report, the store plans to close similar deals with a dozen or more crypto startups this year and invest millions of dollars in them.

GameStop restructured its leadership team and board of directors last year, naming activist investor Ryan Cohen as chairman. This led GameStop to become more tech-focused.

Last January, GameStop's stock soared after stock brokers on Reddit began buying it. The stock started trading at $18 in 2021 and reached a high of $483 a year later. Several congressional hearings and federal agency investigations were held as a result of the unprecedented volatility.

GameStop stock ended at $131 on Thursday, but has already climbed to $172 in trading.

The news has propelled GME stock substantially higher after hours in what appears to be a further squeeze on sales, which will be great news for buyers who have seen the stock price fall.

Some of the video game industry's biggest companies, including Ubisoft Entertainment , Zynga Inc. and Square Enix Holdings Co. have initiated or announced plans to sell NFTs in recent weeks. However, some industry leaders and participants have expressed reservations about the value of NFTs and the motivations of their developers.

In light of the impact of the COVID-19 pandemic on GameStop's physical storefronts, the WS Journal report presented the GameStop NFT strategy as one geared toward increasing the company's overall financial performance.

The Bitcoin price is still trending down below the $44,500 price area and below the 100 EMA (H1).

The Bitcoin price in the past sessions stayed in consolidation and managed a small advance up to the price area of $43,564, but failed to continue above this price area and came back with the strong negative corrections down the price areas of $43,000, $42,500, $42,000, $41,500 and $41,000, and even testing the price area of $40,900.

Now at the time of writing the Bitcoin price is tracking in the U$42,270 price area.

The Bitcoin price needs to achieve a resumption of positive developments above the EMA 20 in the near term; or make a Double Bottom in the U$41,500/U$41,220 price area for the resumption of positive developments for attempts to break through the U$43,500 price area and head above the U$44,000 and U$44,680 price area, which will be of extreme importance for the coming sessions.

The Ichimoku Cloud is giving the condition of positive developments for the next sessions.

On the other hand, if the price of Bitcoin does not manage to resume positive evolutions above $43,500 or even above $43,000, the negative corrections will go to the breakout of the bottom of $40,900 and will go in search of the price area of $40,500 and $40,000, and may even extend to the price area of $39,466, with the famous "needling".

Only above the EMA 20 and with new consolidations above it or with a Double Bottom, for the Bitcoin price to leave a risk area of the continuities of the negative corrections to below the U$ 40,500 and U$ 40,000.

A Daily closing was made above the price area of $43,080.

For today, a close above the $43,360 price area would be of extreme importance.

Sellers remain strong in control of the situation and want to make the break above $40,000.

Buyers need to strongly defend the price area of $41,500 and $40,500, so that sellers cannot break through the $40,000 price area, because below this price area, sellers will gain more strength and may go with the price of Bitcoin below the $39,500 and $39,220 price areas.

Only above the EMA 50 (H1) for buyers to begin to move out of a risk area from the continued downside created by sellers to below the U$41,000 and U$40,500.

Major Resistance areas - $42,500, $43,000 and $43,500.

Major Support areas - $42,060, $41,900 and $41,666.

H4 chart :

Bitcoin price is below the EMAs and below the Ichimoku Cloud.

The Bitcoin price needs to resume positive moves above the EMA 5 in the near term, so that with further consolidations above it, and continue with positive moves above the EMA 20 and above $44,500.

If the Bitcoin price already fails to resume above the EMA 5, negative corrections will go below $42,000 and $41,500, where attempts to break the $40,900 level could occur again.

Follow the buyers in attempts to keep the Bitcoin price above the $42,000 price area.

The chart in H4 will follow the whole week to have a parameter of the Bitcoin Price Evolution. Only a few adjustments will be made.

Resistances: U$ 42,813 // U$ 43,681 // U$ 44,485 // U$ 45,636.

Supports: U$ 41,695 // U$ 40,792 // U$ 39,890 // U$ 39,063.

https://www.tradingview.com/x/pX9ssUxi/

H1 chart :

Bitcoin price follows above the EMA 5, but follows a little below the EMA 20 and below the EMAs 50, 100 and 200 and below the Ichimoku Cloud.

The Bitcoin price needs in the near term to break out of this price area below the EMA 20 and continue its positive developments for attempts to break through the $43,500 price area.

If the Bitcoin price fails for the 4th time with the positive developments above the EMA 20 or even above the U$42,500, the negative corrections will return to test breakout of the U$41,000 and U$40,900 price area where completed, the negative corrections will follow below the U$40,500 and U$40,220 price areas, and breakout attempts of the U$40,000 will emerge.

Only above the EMA 20 and with strong consolidations, for the Bitcoin price to attempt to follow positive advances upwards from the U$43,500 and U$44,320.

Follow the buyers in the attempts to follow with the positive developments with the Bitcoin price above U$ 42,500 and U$ 43,000, which will be of extreme importance for this moment and for the next sessions.

Resistances: U$ 42,617 // U$ 42,998 // U$ 43,416 // U$ 44,039.

Supports: U$ 42.089 // U$ 41.610 // U$ 41.105 // U$ 40.586.

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

Dominance: 40.83 %

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Nº 500