Bitcoin Price Evolution Analysis 09.12.2020

by CSM TRADER

 nº249

 BTC price U $ 18,000.

BTC price on Braziliex R $ 96,333.

Price USD / BRL R $ 5.12.

Price EUR / BRL R $ 6.20.

Gold Price 1g R $ 305.60.

Good morning to all readers.

Bitcoin price follows a downward trend in its correction, below the $ 18,500 price range.

The price of Bitcoin has failed to return above the $ 19,000 price range and as a result corrections are appearing and evolving below $ 18,800 and $ 18,500.

Bitcoin's price is in a major correction below the $ 18,500 price areas and going below $ 18,000.

Now at the time of writing the price of Bitcoin is in the price area of ​​$ 17,990, where you can continue with your negative advances below the price area of ​​$ 17,800; if you don’t stay again and consolidate above $ 18,000.

A test has already been done in the price area of ​​the $ 17,645 where the price of Bitcoin could return soon if it were below the $ 18,100 and if this price area is lost the probability of advances below the price area of ​​the $ 17,500 and U $ 17,300 may occur and still extend below U $ 17,200.

Only a good step forward and good consolidation for the next sessions above the $ 18,500 price point resistance for the return of attempts at positive developments above $ 18,600 can free Bitcoin's price and extend these disadvantages below $ 18,000 .

A daily close was made in the price range of U $ 18,320.

For today, a close above the $ 17,800 price range would be fine.

Only a daily close above the $ 18,400 price range could reverse this negative correction in Bitcoin's price.

The sellers remain in complete control of the situation and with this the disadvantages created remain below the price range of US $ 18,400.

Sellers are looking for the $ 16,300 price range or even below that.

It will be extremely important for buyers to attempt to reverse the trend above the $ 17,900 price range, as below this price area, sellers will continue with the Bitcoin price even below $ 17,600 and may extend below the U $ 17,500.

Only an advance by buyers above the $ 18,500 price point for the next sessions could reverse this situation in the short term.

A daily close was made in the price range of U $ 18,320.

For today, closing the daily above the $ 18,000 price range would be important.

It follows buyers in an attempt to keep Bitcoin's price above the $ 18,000 price range.

Bitcoin TODAY on Braziliex: H1

Bitcoin price today on Braziliex follows a downward trend below the R $ 97,000 price range.

The price of Bitcoin today on Braziliex now at the time of writing follows the price range of R $ 96,000.

The Bitcoin price on Braziliex has failed to break through the R $ 99,000 price area and continue positive advances above this price area; and with that corrections are appearing.

These corrections have already reached up to the price range of R $ 92,540, where the Bitcoin price on Braziliex came back with positive developments above R $ 95,000, but below the price area of ​​R $ 98,000 which would be interesting a return above it for developments and consolidations to return above R $ 99,000.

It will be extremely important for the Bitcoin price on Braziliex to return above the price range of R $ 97,400 and R $ 98,000 for the next sessions, as the probability of continuing downward corrections still does not seem to have ended and so it can be extend again below the R $ 95,500 and R $ 94,400 price areas.

The sellers on Braziliex remain in control of the situation below the R $ 97,000 price area where they have already tested the R $ 92,540 price area and will be able to try a return below this price area and extending below R $ 91,000.

It will be important for buyers to try to stop sellers above the R $ 92,000 price range, because below that the disadvantages may be much greater and thus extend below the R $ 92,000 and U $ 91,200 price areas.

Only a lap above the R $ 97,400 price area for buyers to start to have control of the situation, and even then, they will have to have a good consolidation with the Bitcoin price on Braziliex above the R $ 98,400 price area.

It follows buyers in an attempt to block sellers above the R $ 95,200 price range.

Resistances: R $ 96,110 // R $ 96,951 // R $ 97,718 // R $ 98,503.

Support: R $ 95,376 // R $ 94,666 // R $ 94,011 // R $ 93,149.

RSI: It is at level 81 and with an upward bias.

https://www.tradingview.com/x/SqbPRg2H

Graph: H4

Bitcoin's price follows above VWAP and above BB's bottom line; but below the EMAs and still within the Ichimoku Cloud.

Only an advance above the EMA 100 to give a possible condition for positive developments above the price range of $ 18,400.

The sellers remain in full control of the situation, staying as the Bitcoin price below the price range of $ 18,500.

Buyers are even trying to evolve over the $ 18,200 price range, but so far without success.

Only a move by buyers above the $ 18,500 price point for the next sessions could reverse this situation.

It follows the buyers in the “fight” with the sellers to try a possible evolution above the price range of U $ 18,200 and U $ 18,300.

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 $ 18,379 // U $ 18,502 // U $ 18,632 // U $ 18,778.

Support: U $ 18,174 // U $ 18,012 // U $ 17,882 // U $ 17,729.

https://www.tradingview.com/x/iRZR4ibC/

Graph: H1

Bitcoin's price remains below the EMAs 20, 50 and 100 and well below the Ichimoku Cloud.

For a downward trend reversal, Bitcoin's price is expected to stabilize above EMA 20 (yellow line) and after good consolidations continue above EMA 50 (gray line) or above the $ 18,600 price range.

It will be important for the price of Bitcoin to remain and consolidate above the support of U $ 18,000 so that the disadvantages do not continue below it and with that it can extend below U $ 17,800 and still proceed below U $ 17,645 where it has been a test in past sessions.

It is not ruled out that the price of Bitcoin will still be able to visit the major support in the price area of ​​the $ 16,300 where if it exceeds this price area the disadvantages could be much greater below the $ 16,100 and $ 16,000

Buyers are trying hard to make advances above the $ 18,240 and $ 18,300 price ranges.

It is important for buyers to have a well-consolidated advance above the price range of U $ 18,500 for the next sessions, since only this advance and a stabilized one above U $ 18,500 and U $ 18,600 will be able to change this situation for buyers and with that the probabilities back to attempts over $ 19,000 may arise during the sessions.

It follows buyers in an attempt to advance above the $ 18,300 price point.

Resistances: U $ 18,319 // U $ 18,494 // U $ 18,631 // U $ 18,764.

Support: U $ 18,151 // U $ 17,983 // U $ 17,839 // U $ 16,644.

https://www.tradingview.com/x/8l5jGKNi/

Technical indicators: H1

RSI: The RSI at BTC's H1 chart time is at level 79 and has a bullish bias.

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

MACD: The MACD at the BTC chart time is at -214 with a bullish bias.

https://www.tradingview.com/x/ZTC7btcV/

OBV: The OBV at BTC's H1 chart time is at level 160 and has a bullish bias.

https://www.tradingview.com/x/MZyMs65i/

Graph: M5

Bitcoin price follows above VWAP and above BB's central line (Bollinger bands)

An advance above the $ 18,500 price range will be required for the next sessions for a possible return above the $ 18,600 and $ 18,680 price range.

Sellers continue to hinder buyers in their attempts to move above the $ 18,300 price point.

Resistances: U $ 18,310 // U $ 18,348 // U $ 18,388 // U $ 18,426.

Support: U $ 18,250 // U $ 18,201 // U $ 18,145 // U $ 18,105.

https://www.tradingview.com/x/J62u7ma1/

BTC dominance 62.96%

“There are 3 eras of currency: based on commodities, based on politics, and now based on mathematics. "----- Chris Dixon

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nº249