Bitcoin Price Evolution Analysis 11.01.2021
by CSM TRADER
nº271
BTC price U $ 35,222.
BTC price on Braziliex R $ 193,500.
Price USD / BRL R $ 5.41.
Price EUR / BRL R $ 6.59.
Gold Price 1g R $ 321.03.
Good morning to all readers.
Bitcoin's price follows its upward trend above $ 32,000, now at the time of writing.
The price of Bitcoin was not able to overcome the price range of $ 41,400 and came to correct strongly breaking the price areas of $ 40,000, $ 39,000, $ 38,000, $ 37,000, $ 36,000, $ 35,000, U $ 34,000, U $ 33.00 and making a fund the price area of U $ 32,536.
Now at the time of writing the price of Bitcoin remains in the price area above R $ 36,100.
It will be necessary for the Bitcoin price to continue high, staying above the price range of $ 35,000 and $ 35,500 for the next sessions, and with that, consolidations and developments above the price area of $ 36,000 and U $ 36,220 may occur and thus, advances above the price areas of the $ 36,600 and $ 37,000 could reoccur and still extend above the $ 38,000.
On the other hand, if the Bitcoin price fails to evolve above U $ 36,220 and U $ 36550, the disadvantages may appear and correct again below the U $ 36,000 price area where it will be necessary for the Bitcoin price to stay at least above the price range of U $ 35,800 and U $ 35,220 in order to have no more disadvantages below U $ 35,000 and still being able to extend again below the U $ 34,880 price area.
For a good positive evolution the Bitcoin price needs to be supported above EMA 20 (H1) and with good consolidations above it for possible advances above EMA 50 (H1).
A daily close was made in the price range of U $ 38,150.
For today, a good close would be above the price range of U $ 37,220.
Buyers failed to once again exceed the $ 41,400 price range and as a result, the sellers took advantage and entered the situation strongly and created the disadvantages from the $ 41,000 price range to the US price area. $ 32,536.
Now at the time of writing, buyers look like they're getting back in control; but they need to get back above the central line of BB in order to achieve good developments above the price range of $ 36,220.
It will be necessary for buyers to make upgrades and consolidations above the U $ 35,500 and U $ 36,120 price areas for possible continuations of developments above the U $ 36,550 and U $ 37,000 price areas for the next sessions.
If buyers fail to evolve the Bitcoin price above the price range of $ 36,220, $ 36,600 and $ 37,000 the disadvantages created by sellers could arise and thus extend below the price areas of $ 36,000 and U $ 35,220.
A daily close was made below the price range of U $ 38,200., In the price area of U $ 38,150.
For today, a good daily close would be above the price range of U $ 37,200.
Only an advance by buyers above the price range of US $ 38,660 to an advance above US $ 39,220 and still with a daily close above the price area of US $ 39,360 for the possible return of new tests above the price area the $ 40,120; very difficult situation for buyers for now.
It follows buyers in an attempt to evolve above the $ 36,000 price range, where they already find it difficult to make positive advances above the $ 36,440 price range; now at the time of writing.
Bitcoin TODAY on Braziliex: H1
Another historic bitcoin price hike was made on Braziliex and Brazil, reaching the price range of R $ 229,560.
The price of Bitcoin on Braziliex today remains below the price range of R $ 200,000.
The Bitcoin price on Braziliex failed to exceed the price range of R $ 224,400 and with that negative corrections came and continued below the price areas of R $ 200,000, R $ 190,000 and R $ 180,087; and there was also a “breach” up to the price range of R $ 90,000.
It will be necessary for the Bitcoin price on Braziliex today to stay above the price areas of R $ 186,000 and R $ 184,200 in order not to have disadvantages again below the price area of R $ 183,600 and still being able to extend below R $ 182,400.
Buyers do a great job above the price range of R $ 200,000 and are able to make another new historic top at Braziliex in Brazil, reaching the price range of R $ 229,560.
Buyers failed to make positive developments above the price range of R $ 225,000 and, with that, gave the sellers a chance to take control of the situation and create the disadvantages that reached the price area of R $ 180,087.
It will be important for buyers to continue consolidations and positive developments above the R $ 190,000 price range in order not to have sellers coming back and thus the possibilities for sellers to re-create disadvantages below the price range of R $ 190,000 may arise and still extend below R $ 187,600 and R $ 186,600; where buyers will have to block sellers at any cost to avoid continuing losses below R $ 184,700.
It follows buyers in an attempt to evolve and hold Bitcoin's price above the $ 197,000 price range.
Resistances: R $ 197,182 // R $ 205,091 // R $ 211,975 // R $ 219,417.
Supports: R $ 190,393 // R $ 184,067 // R $ 177,370 // R $ 170,395.
https://www.tradingview.com/x/OSDKTPLW
Graph H4:
Bitcoin's price remains above the EMA 100 and a little bit of the Ichimoku Cloud, however, it remains below the EMA 5, 20 and 50 and still below the VWAP.
The price of Bitcoin to return to positive developments will need to stay above the Ichimoku Cloud, if you go inside the Ichimoku Cloud the disadvantages could be much greater below the $ 32,140.
Only a good advance above the price range of $ 36,120 or above the EMA 50 (gray line) for the possible rounds of attempts to break the resistance of $ 36,400 and $ 36,500.
Remembering that; that everything that is supported now will come resistance.
Buyers now at the time of writing continue to attempt to hold Bitcoin's price above the $ 34,500 price range.
It is still very complicated for buyers and with that, the sellers will get in control of the situation and they will be able to get stronger below the U $ 34,400 and U $ 34,120 and may even want to return to test the last fund formed in the price area of U $ 32,536.
It will be extremely important for buyers to stop sellers above the $ 34,000 price range.
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 $ 35,549 // U $ 36,361 // U $ 37,121 // U $ 37,882.
Support: U $ 34,104 // U $ 33,166 // U $ 32,431 // U $ 31,721.
https://www.tradingview.com/x/YLdc32Wa/
Graph H1:
Bitcoin's price follows below VWAP's EMAs 5, 20, 50 and 100 and BB's central line, and still below the Ichimoku Cloud.
Only a well-consolidated evolution above the EMAs 20 and 50 so that the Bitcoin price returns with positive developments above the price areas of the $ 36,600 and $ 37,000.
Sellers continue to control the situation and make it difficult for buyers to evolve above the $ 35,000 price range.
Buyers still need a good evolution above BB's central line (red line) to return to full control of the situation and still evolve Bitcoin's price above the $ 36,400 price range.
It follows buyers in the fight with sellers to try to keep Bitcoin's price above support in the $ 34,220 price range.
Resistances: U $ 25,524 // U $ 36,315 // U $ 37,163 // U $ 37,898.
Support: U $ 35,055 // U $ 32,699 // U $ 31,823 // U $ 31,089.
https://www.tradingview.com/x/wrumK5so/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 90 and has a downward bias.
https://www.tradingview.com/x/DRUu7FrD/
MACD: The MACD at the BTC chart time is at the negative level -1242 and stabilized.
https://www.tradingview.com/x/ZQwC4sHB/
OBV: The OBV in the BTC H1 chart time is at level 484 and bears a downward bias.
https://www.tradingview.com/x/gSUJgPGR/
Graph M5:
Bitcoin's price follows below the BB's central line and below the VWAP and still exiting below the Ichimoku Cloud.
Vendors remain in complete control of the situation with Bitcoin's price falling below the $ 36,000 price range.
Buyers need to try to stop sellers above the $ 32,500 price range as below that sellers will try to test the latest fund formed in the $ 32,536 price range and may create further disadvantages below $ 32,000.
Resistances: U $ 34,331 // U $ 34,766 // U $ 35,033 // U $ 35,426.
Support: U $ 33,742 // U $ 33,349 // U $ 32,773 // U $ 32,268.
https://www.tradingview.com/x/UlY4FGta/
BTC dominance 67.71%
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nº271
