Bitcoin Price Evolution Analysis 08.12.2020
by CSM TRADER
nº248
BTC price U $ 18,978.
BTC price on Braziliex R $ 98,000.
Price USD / BRL R $ 5.09.
Price EUR / BRL R $ 6.18.
Gold Price 1g R $ 305.82.
Good morning to all readers.
Bitcoin's price remains down and correcting against the $ 19,000 price range.
The price of Bitcoin once again failed to try to exceed the $ 19,300 price range and with that came corrections below the $ 19,296 price range.
Now at the time of writing, the Bitcoin price continues to correct and is in the price range of $ 18,828.
It will be necessary for the Bitcoin price to stay above support in the $ 18,600 price range in order not to risk further disadvantages below the $ 18,550 and $ 18,500 price range.
The price of Bitcoin needs to stay above the resistance that was already supported at $ 19,000, to return attempts to once again try to break the resistance in the price range of $ 19,300 and $ 19,350 for possible positive developments above the $ 19,440 price range; but first it will have to pass again the resistance of U $ 19,200.
If the Bitcoin price succeeds in this evolution above the $ 19,350 and $ 19,440 price areas the next big resistance is in the $ 19,500 and $ 19,550 price area where above and stabilized the odds of advances above the areas price of U $ 19,640 and U $ 19,680 may arise and extend above U $ 19,760.
If the price of Bitcoin continues with its negative correction below U $ 19,000 and falls below the support of U $ 18,500 the disadvantages could be much greater, reaching the price range of U $ 18,360 and U $ 18,200.
A daily close was made above the price range of $ 19,166.
For today, a good daily close remains above the price range of U $ 19,100; as below $ 19,000 the probabilities of a continuation of negative advances could appear throughout the week.
Buyers failed once again to try to exceed the $ 19,300 price point and thereby went into exhaustion and sellers were in control of the situation.
With sellers in control of the situation, they managed to lower the price of Bitcoin below the price range of $ 19,000 and $ 18,800 where it extended to the price area of $ 18,699.
Now at the time of writing, buyers are looking to regain control of the situation above the $ 18,800 price range; but to do so, they will have to move above the $ 18,900 and $ 19,000 price areas to attempt to move above the $ 19,120 price area and maintain consolidations above these.
If buyers are unable to evolve to the next sessions above the price range of $ 18,900 and $ 19,000, the probabilities of continuity of sellers in controlling the situation may occur, and with that they may again create disadvantages that this time may arrive up to the price range of $ 18,660 and $ 18,550 where buyers will have to bar sellers from having possible disadvantages below the price areas of $ 18,500 and $ 18,440.
It follows buyers in an attempt to evolve with the Bitcoin price above the $ 18,880 price range.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin today on Braziliex follows below the price range of R $ 99,000 and with that the disadvantages appeared below the price area of R $ 98,000 reaching the price area of R $ 97,000.
A resumption was made and now at the time of writing the price of Bitcoin on Braziliex remains above the price range of R $ 98,000, in the price range of R $ 98,171.
It will be extremely important for a positive advance back above the resistance in the price range of R $ 98,500 and R $ 99,000 for the Bitcoin price to stabilize again and return to consolidations for possible attempts at positive advances above the price area. of R $ 99,700.
If the price of Bitcoin on Braziliex fails to develop positively above R $ 98,500 and R $ 99,000, the disadvantages could return and occur, and thus extend below the R $ 98,000 price range and the great support of R $ 97,000 reaching even below the R $ 96,600 price area.
Buyers remain in control of the situation above the R $ 97,000 support.
An advance of buyers with the Bitcoin price on Braziliex above the price range of R $ 98,500 is important to return the consolidations above this price area and thus attempt attempts at positive developments above the price area of R $ 99,000.
It will be extremely important for buyers who are able to stop sellers above the R $ 97,000 support, because below them the sellers will gain strength and may create disadvantages that may extend below the R $ 96,600 price area or even much lower .
Buyers follow in an attempt to bar sellers above the R $ 98,000 price range and will still have to evolve the Bitcoin price on Braziliex above the R $ 98,500 price range.
Resistances: R $ 98,438 // R $ 99,029 // R $ 99,652 // R $ 100,003.
Supports: R $ 97,007 // R $ 96,304 // R $ 95,682 // R $ 95,059.
RSI: It is at level 33 and with a small upward bias.
https://www.tradingview.com/x/0ziA71oz
Graph: H4
Bitcoin's price remains below EMAs 5, 20 and 50 and within the Ichimoku Cloud.
It will be extremely important for the Bitcoin price not to continue with negative advances below the price range of $ 18,600; because below that the probabilities of a test on the EMA 100 may occur, and thus, the price of Bitcoin needs to be above it to avoid entering further disadvantages below $ 18,400.
The sellers are still in control of the situation and may go in search of the EMA 100 to lower the Bitcoin price below it; which would make it very difficult for buyers to reverse a trend in the short term; If that happen.
It follows buyers in a “fight” with sellers in an attempt to regain control of the situation above the $ 18,880 price point.
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 $ 18,993 // U $ 19,026 // U $ 19,128 // U $ 19,241.
Support: U $ 18,845 // U $ 18,711 // U $ 18,591 // U $ 18,465.
https://www.tradingview.com/x/3qicNC0o/
Graph: H1
Bitcoin price continues to correct below EMAs and below Ichimoku Cloud.
It will be important for the Bitcoin price to return developments above the EMA 5 (green line) for possible positive developments to return above the $ 18,900 price range.
The price of Bitcoin will have to stay above the price area and the bottom line of BB (Bollinger bands) to have no further disadvantages below the price area of the $ 18,800 and may extend below the $ 18,760.
The Bitcoin price will have a long journey to return above the $ 19,000 price range where it will face some strong resistance on the way that one is in the $ 18,880 price range.
Vendors continue to control the situation where they are with the Bitcoin price now at the time of writing in the $ 18,828 price area.
It will be extremely important for buyers to make a well-consolidated advance above the $ 18,880 price range for possible developments above the $ 18,940 and $ 19,000 price ranges.
If buyers fail to make advances above $ 18,880 for the next sessions, sellers may create further negative disadvantages where they may extend further below the $ 18,800 and $ 18,750 price range.
It will be extremely important for buyers to stop sellers above the support of US $ 18,500 because below this, the disadvantages may extend below US $ 18,440.
It follows buyers in the difficulty of keeping Bitcoin's price above the $ 18,800 price range.
Resistances: U $ 18,870 // U $ 18,976 // U $ 19,077 // U $ 19,182.
Support: U $ 18,725 // U $ 18,624 // U $ 18,544 // U $ 18,443.
https://www.tradingview.com/x/N2xGjajK/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 4 and has a downward bias.
https://www.tradingview.com/x/8Y4ky90v/
MACD: The MACD at the BTC chart time is at level 68 with a downward bias.
https://www.tradingview.com/x/wYeXPR8Z/
OBV: The OBV at the BTC chart's H1 time is at level 159 and has a bullish bias.
https://www.tradingview.com/x/C7EIen2j/
Graph: M5
Bitcoin's price follows below the VWAP, and below the BB's central line and below the Ichimoku Cloud.
This advance above BB's central line will be of utmost importance for the possible turns of positive developments above the price range of U $ 18,840.
Sellers remain in control of the situation and are increasingly forcing a negative evolution below the $ 18,800 price range.
It follows buyers with great difficulties of positive advances above U $ 18,840.
Resistances: U $ 18,817 // U $ 18,845 // U $ 18,870 // U $ 18,901.
Supports: $ 18,782 // $ 18,756 // $ 18,729 // $ 18,694.
https://www.tradingview.com/x/AjOSIyei/
BTC dominance 62.82%
“You can't do things like Bitcoin. It's like trying for gunpowder. ” ------ John McAfee
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nº248
