Bitcoin Price Evolution Analysis 08.12.2021
by CSM TRADER
Nº 410
BTC price U$ 45.420.
Price USD/BRL R$ 5.21.
Price EUR/BRL R$ 6.12.
Price Gold 1g R$ 292.50.
Good morning to all readers.
Bitcoin price continues in an uptrend above the U$44,500 price area and the 100 EMA (H1).
The Bitcoin price in the past sessions tried 3 times to break through the $46,800 price area, but without success.
In the case mentioned above, the Bitcoin price failed in these positive advances upwards from U$ 46,800, and entered negative corrections downwards from the U$ 46,000 and U$ 45,000 price areas, and even testing the U$ 44,820 price area.
Now at the time of writing the Bitcoin price is tracking in the U$45,448 price area.
The price of Bitcoin has already had 4 tests of attempted breakout at the EMA 100 (H1), where the breakout of the EMA 100 will allow the Bitcoin price to continue its negative corrections downward to the price areas of $44,780 and $44,380, and still go for a test at the EMA 200 (H1), more or less in the price area of $43,780.
It will be necessary for the Bitcoin price to hold and consolidate above the U$45,000 price area, so that the possible turns of the positive developments above U$46,000 can emerge.
If the Bitcoin price fails to make advances above U$45,780 for the next few sessions, the negative corrections will provide the continuities of attempts to break out of U$45,000.
A daily close was made above the price area of U$ 45,522, that is U$ 58.00 below the previous daily close.
For today a close above the $45,120 price area would be of extreme importance.
Buyers still remain in control of the situation above the 100 EMA (H1).
Buyers need to continue their attempts at positive advances above $45,500 and $45,780.
If the buyers fail in the short term to keep the Bitcoin price above U$45,220, the sellers will take advantage and get into control of the situation where they will create the downside below U$45,000, and further extend it below U$44,780.
Only buyers' continuities with the Bitcoin price and positive advances above U$ 46,000, to get out of a risk area of sellers' downside continuities below U$ 45,000.
Major areas of Resistance - U$45,780, U$46,120 and U$46,680.
Major Support areas - U$45,000, U$44,660 and U$44,060.
H4 chart:
Bitcoin price follows above the 200, 100 and 50 EMAs and a little bit above the 20 EMA and the Ichimoku Cloud, however it follows below the 5 EMA.
It will be important that the Bitcoin price stays above the EMA 50 in order to avoid further negative corrections below $45,000.
Only a return to positive developments above $45,500 and $45,780 will take the Bitcoin price out of a risk area of further negative corrections below $45,000.
Follow the buyers in attempts to bar sellers above the $45,220 price area.
The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistances: U$ 45,738 // U$ 46,438 // U$ 47,195 // U$ 47,753.
Supports: U$ 45,177 // U$ 44,673 // U$ 43,970 // U$ 43,177.
https://www.tradingview.com/x/PpltFEBJ/
H1 chart:
Bitcoin price is tracking above the 100 and 200 EMA, however it is tracking below the 20, 50 and 5 EMAs and almost exiting below the Ichimoku Cloud.
The Bitcoin price would need to hold above the 100 EMA in order not to give the negative corrections continuities below $45,000 and $44,780.
If the Bitcoin price advances below the EMA 100 the negative corrections could go for a test at the EMA 200, i.e. the U$43,780 price area.
Only the turns of the positive developments above $45,500 for the Bitcoin price to get out of a risk area of the continuities of the negative corrections below $45,000.
Follow the buyers in their attempts to protect the EMA 100, in order not to have greater disadvantages created by the sellers below it and below the U$ 45,000.
Resistances: U$ 45.458 // U$ 45.660 // U$ 45.838 // U$ 45.983.
Supports: U$ 45,139 // U$ 44,974 // U$ 44,833 // U$ 44,602.
https://www.tradingview.com/x/oAxay58h/
Dominance: 46.53 %.
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Nº 410
