Bitcoin Price Evolution Analysis 09.02.2021
by CSM TRADER
nº291
Price of BTC U$ 46,330.
BTC price at Braziliex U$ 244,025.
Price USD/BRL R$ 5.36.
Price EUR/BRL $ 6.49.
Price Gold 1g $ 316.78.
Good morning to all readers.
Bitcoin price is on an upward trend above the price area of U$ 40,000.
The price of Bitcoin made its newest ATH arriving in the price area of U$ 48,142.
After the news highlighting Tesla's participation in the purchase of $1.5 Bi, the price of the Bitcoin started a strong rise above the price area of $42,000, breaking all the resistances above, and thus making its newest ATH in the price area of $48,142.
Now at the time of writing the price of Bitcoin follows in the price area of U$ 46,400.
The Bitcoin price follows in a normal negative correction after the new ATH.
It seems that the Bitcoin price follows in strong consolidations above the $46,000 price area.
It will be necessary for the Bitcoin price to stay above the AMS 20 (H1) in the price area of $45,255 in order to return the possible positive evolutions above the price area of $47,250 or above the AMS 5 (H1); remembering that the Bitcoin price needs to stay above the AMS 50 (H1) or even above the price area of $42,600 in order not to lose the continuity of the positive evolutions above $47,000 in the short term.
A test at the AMS 20 may arise and then a turn of positive evolutions above U$ 46,500 may occur again.
On the other hand, a stronger downward correction of the price area of U$ 44,500 can be expected, even to give an adjustment on the chart.
A nice closing of the journal above the price area of U$ 46,370 was made.
For today a daily closing above the price area of U$ 45,600 would be a good one, for the continuity of positive evolutions above it.
Remembering that the price of Bitcoin is very "stretched", and heavier corrections may arise below the price area of U$ 44,500.
The buyers managed once again to make a new ATH in the U$ 48,142 price area.
Now at the time of writing, buyers are having trouble keeping the Bitcoin price above the $45,900 price area.
The buyers follow the situation and will try to keep the Bitcoin price above the $46,000 and $46,500 price areas for the next sessions.
It will be extremely important that the buyers keep the Bitcoin price above the BB central line and above the EMA 20 (H1), because below them, the sellers will enter in total control of the situation and with this they can create the disadvantages below the price areas of $45,220 and $44,800.
It was made a beautiful closing of the daily above the price area of U$ 46,370.
For today a good closing of the diary would be above the price area of $ 45,600, or better still above $ 46,000.
A closing below $44,000 could hinder the continued positive evolution of buyers above $45,800 and $46,000.
Buyers seem to be looking for another new ATH in the $50,000 price area.
It follows the buyers in trying to recover the $46,000 price area.
Bitcoin TODAY at Braziliex: H1
The price of Bitcoin today at Braziliex follows in total evolution above the price area of R$ 210,000.
The price of Bitcoin at Braziliex makes another historical high in Brazil in the price area of R$ 255,348.
Now at the time of writing the price of Bitcoin at Braziliex follows in the price area of R$ 248,977.
It will be important for the price of Bitcoin at Braziliex to continue consolidations and positive evolutions above the price areas of R$ 220,000 and R$ 233,220.
If the price of Bitcoin fails with the positive evolutions above the new ATH in the price area of R$ 255,348, it may go into exhaustion and with this, the negative corrections may be heavier and go below the price areas of R$ 222,000 and R$ 216,600.
The buyers at Braziliex did an excellent job and managed to take the Bitcoin price at Braziliex and in Brazil to the newest historical top which was in the price area of R$ 255,348.
Now at the time of writing, the buyers at Braziliex continue with positive advances up the price area of R$ 248,899 and want to go in search of another new ATH above the R$ 255,348.
The buyers at Braziliex will still be able to raise the price of Bitcoin to another new ATH above the price area of R$ 280,000, where a search in the price area of R$ 300,000 is not yet discarded.
Only a good and consolidated advance above the U$ 260,000 will take buyers to the R$ 280,000.
If the buyers in Braziliex fail with their evolution above ATH at $ 255,348, the sellers will take advantage of the situation and where they can start to create the disadvantages below the price areas of $ 230,500 and $ 220,220 where the buyers will have to try to bar the sellers to no longer have disadvantages below the $ 218,600.
It follows the buyers in the attempts of positive evolutions upwards of the price area of the R$ 250.120.
Resistances: R$ 251.075 // R$ 253.040 // R$ 255.348 // R$ 258.079.
Supports: R$ 246,922 // R$ 243,185 // R$ 240,603 // R$ 237,409.
https://www.tradingview.com/x/yglP349w
Graph H4:
The price of Bitcoin follows above the EMAs and above the Ichimoku Cloud; however, a little below the VWAP (purple line).
The price of Bitcoin needs to give continuity to the positive evolutions above VWAP.
It will be important that the price of Bitcoin is above the EMA 5 so as not to lose the good evolutions made so far above the price area of U$ 45,000.
The price of Bitcoin needs good evolutions back above the price areas of $46,660 and $47,320 so that the attempts of a new ATH can arise and extend above $50,000.
The buyers follow the control of the situation and are in the attempts of evolutions above the price area of $ 46,500.
It is important for the buyers to continue the positive evolutions upwards to the $46,000 price area.
In the case mentioned above, if buyers lose the $45,600 and $45,500 price areas, the chances of buyers getting strong in control of the situation may be quite high and with that, they may want to start creating the disadvantages below the $45,220 price area.
Follow the buyers again in the difficulty of keeping the Bitcoin price above the $46,220 price area.
The graph in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistances: U$ 46,792 // U$ 47,973 // U$ 48,809 // U$ 49,774.
Supports: U$ 46.127 // U$ 45.414 // U$ 44.503 // U$ 43.372.
https://www.tradingview.com/x/EO903DFW/
Graph H1:
The price of Bitcoin follows below the BB center line and below the EMA 5 and above the EMAs 20, 50 and 100 and above the Ichimoku Cloud.
The price of Bitcoin is finding it difficult to stay above and supported at the EMA 20 above VWAP, it will still have to stay above the BB center line and the EMA 5 for the return of the evolutions above U$ 45,800.
It will be of extreme importance for the price of Bitcoin is evolutions above the EMA 20 and VWAP so that the continuity of positive evolutions above U$ 45,900 and U$ 46,220 can come back and with that the evolutions above the price area of U$ 46500 and U$ 47,000 can come back.
A break above $48,000 may take the price of Bitcoin above the large and expected price area of $50k.
Buyers still find it difficult to move the Bitcoin price above the $46,000 price area.
The buyers will have to bar the sellers above the $44,800 price area in order not to have great disadvantages below this price area.
Follow the buyers in trying to bar the sellers above the $45,000 price area.
Resistance: U$ 45.650 // U$ 46.356 // U$ 46.937 // U$ 47.476.
Supports: U$ 45.132 // U$ 44.364 // U$ 43.721 // U$ 42.912.
https://www.tradingview.com/x/8DWQa7di/
Technical indicators: H1
RSI: The RSI on the BTC H1 chart time is at level 6 and stabilized.
https://www.tradingview.com/x/Ia9PK1fj/
MACD: The MACD on the BTC chart time is at positive level 121 and with a bearish bias.
https://www.tradingview.com/x/dkw5tXMS/
OBV: The OBV in BTC's H1 graphic time is at level 963 and with a small upward bias.
https://www.tradingview.com/x/o4soqFmB/
M5 Graph:
The price of Bitcoin follows below BB's center line, below VWAP and below Ichimoku Cloud.
The price of Bitcoin needs to return its positive evolutions above the price areas of U$ 45,800 and U$ 46,000.
It will be extremely important for buyers to keep the price of Bitcoin above $45,000.
Resistances: U$ 45.843 // U$ 46.039 // U$ 46.257 // U$ 46.446.
Supports: U$ 45.516 // U$ 45.204 // U$ 44.492 // U$ 44.709.
https://www.tradingview.com/x/wHlNGSlq/
BTC dominance 62.66%
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nº291
