Bitcoin Price Evolution Analysis 11.11.2020
by CSM TRADER nº229 BTC price U $ 15,420. BTC price on Braziliex R $ 84,000. Price USD / BRL R $ 5.41. Price EUR / BRL R $ 6.38. Gold Price 1g R $ 324.80.
Good morning to all readers.
Bitcoin price follows an upward trend as long as it stays above the $ 15,200 and $ 15,000 support.
Bitcoin price is struggling to overcome resistance in the $ 15,460 and $ 15,550 price areas.
It will be extremely important for the Bitcoin price to rise above $ 15,500 and evolve above $ 15,550 to avoid major disadvantages below that.
A test was made in the price area of U $ 15,499, but with no success of advance above U $ 15,500 and with that came the correction that extended up to the price area of U $ 15,322.
Bitcoin's price now at the time of writing remains in a positive correction above the $ 15,400 price range and will possibly attempt a breakthrough above the $ 15,500 resistance.
If the price of Bitcoin manages to overcome the strong resistance above U $ 15,000 and U $ 15,550, an advance above U $ 15,600 may occur, and with that, advances above U $ 15,700 may appear to go in search of U $ 15,820.
It will be extremely important for the Bitcoin price to stay above the EMA 100 (H1) so as not to have major disadvantages below this area.
On the other hand, if the price of Bitcoin fails to advance above the resistance of U $ 15,500 and U $ 15,550, it may suffer another correction that may be stronger, and with that, play the price of Bitcoin below the EMA 100 (H1) which is at price area of U $ 15,200 and thereby extend these disadvantages below U $ 15,160 where the Bitcoin price will have to stop in order not to have the continuity of negative disadvantages below U $ 15,000, where you can seek the U $ price area 14,800.A daily close was made above the $ 15,470 price range.
For today, a close above the $ 15,300 price range will be a good size.
The ideal would be a closing above U $ 15,500 to continue consolidations and advances over U $ 15,600 and U $ 15,700.
Buyers are having a hard time exceeding the $ 15,500 price point.
It will be important for buyers to take the Bitcoin price above the $ 15,500 and $ 15,550 price range for the next sessions so as not to start experiencing significant disadvantages created by sellers below the $ 15,400 price area.
If buyers achieve this advance above U $ 15,500 and U $ 15,550, an advance over the U $ 15,600 price range may occur and still extend above U $ 15,700.
On the other hand, if buyers weaken and go into exhaustion due to attempts to exceed the $ 15,500 and $ 15,550 price points, sellers will take advantage and get in control of the situation with this could create disadvantages that could reach below the area price of U $ 15,360 and still extend below EMA 100 (H1), where buyers will have to bar sellers in the U $ 15,200 price sellers will gain more strength and will be able to bring the Bitcoin price below the $ 15,000 support.
Buyers closed the daily above the $ 15,470 price range and are still managing to keep Bitcoin's price above $ 15,200.Today, closing a diary by buyers above the $ 15,520 price range would be very important to move out of a “risk” area; or at least above $ 15,300 to continue consolidations above this price area.
It follows buyers in an attempt to evolve above the $ 15,460 and $ 15,500 price areas.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin today on Braziliex remains above the price range of R $ 82,200 and with that developments are appearing above R $ 83,600.
The price of Bitcoin on Braziliex now at the time of writing remains above the price range of R $ 84,000 and will need an evolution above the price area of R $ 84,500 in the short term, in order to continue advances above the asking area of R $ 85,160.
Buyers remain in control of the situation above the price range of R $ 82,600 and with that the developments and consolidations above the price area of R $ 83.00 and R $ 84,000 are emerging.
It will be important for buyers to advance above the R $ 85,000 price area to enter a new price area for further consolidations and possible developments above this price area.
On the other hand, if buyers fail to evolve the Bitcoin price on Braziliex above the R $ 85,000 price range, they may experience disadvantages created by sellers that may fall below the R $ 84,400 price range and thus extend below of the R $ 83,600 where buyers will have to bar the sellers at any cost so that they no longer have disadvantages below the R $ 82,200 price area.
It follows buyers in an attempt to evolve above the R $ 84,500 price range.
Resistances: R $ 84,179 // R $ 84,755 // R $ 85,299 // R $ 85,844.
Support: R $ 83,846 // R $ 83,348 // R $ 82,617 // R $ 81,886.
RSI: It is at level 99 and with an upward bias
https://www.tradingview.com/x/Jn959Hz1
Graph: H4
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
Bitcoin price has just advanced above the $ 15,500 resistance and has reached the forehead of the $ 15,605 price range.
As written at the beginning of my analysis, this could happen.
Now the price of Bitcoin needs to remain above the $ 15,500 price range to continue consolidations and possible advances above the $ 15,550 and $ 15,600 price ranges where an advance above $ 15,700 may occur for the next sessions.
Buyers have just evolved the Bitcoin price above the $ 15,500 price range and with that they are expected to keep the price in consolidations above this price area to the maximum, for a good and evolution above the $ 15,580 and $ 15,600.
Follow buyers with the Bitcoin price above the $ 15,530 price range, now at the time of writing.
Resistances: U $ 15,603 // U $ 15,866 // U $ 16,029 // U $ 16,203.
Support: U $ 15,365 // U $ 15,176 // U $ 14,967 / U $ 14,801.
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
.https://www.tradingview.com/x/buErtCul/
Graph: H1
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
Bitcoin's price has managed to overcome the resistance of $ 15,500 and remains above $ 15,530, now at the time of writing.
It will be of utmost importance for the price of Bitcoin to now stay above EMA 5 for attempts to evolve above the $ 15,600 price range where a test has already been done.
It is also important for the Bitcoin price to continue with new consolidations above the U $ 15,500 price area for the strengthening of new positive developments above this U $ 15,600 and U $ 15,700 price developments may arise.
The price of Bitcoin must at least remain above $ 15,460 in order not to have disadvantages below that in the short term.
Buyers managed to evolve above the $ 15,500 price range and continue to try to evolve above $ 15,600 which will be very important for the next sessions.
If buyers fail to evolve the Bitcoin price above the $ 15,600 and $ 15,660 price range, a seller's entry may arise and the disadvantages may arise up to the $ 15,440 price area where buyers they will have to try to stop the sellers so they don't have disadvantages below $ 15,370.
It follows buyers in an attempt to evolve with Bitcoin's price above the $ 15,600 price range.
Resistances: U $ 15,632 // U $ 15,678 // U $ 15,738 // U $ 15,817.
Support: U $ 15,505 // U $ 15,426 // U $ 15,331 // U $ 15,246.
The price of Bitcoin remains above Fibo 0.236% in the price area of $ 15,486 where it should remain so that there are no possible disadvantages below Fibo 0.382% in the price area of $ 15,268, because then the disadvantages may be even greater below that , which may extend below 0.5% Fibo and below EMA 100.
It will be extremely important for buyers to advance above the price range of U $ 15,660 and U $ 15,700 with consolidations above U $ 15,550 for the next sessions, or the disadvantages created by sellers may appear below U $ 15,550.
https://www.tradingview.com/x/BIuTTyBv/
Technical indicators:
H1RSI: The RSI at the BTC chart's H1 time is at level 88 and has a bullish bias.
https://www.tradingview.com/x/o2wyekmN/
MACD: The MACD at the BTC chart time is at level 53 and has a bullish bias.
https://www.tradingview.com/x/RvLd8O9b/
OBV: The OBV in the HTC chart time H1 is at level 153 and has a bullish bias.
https://www.tradingview.com/x/SbnJWa6G/
Graph: M5
Bitcoin's price remains above the EMA's and above the Ichimoku Cloud in the short term.It will be important for the Bitcoin price to stay above the EMA 50 in order not to have disadvantages below that and to miss the good evolution made a few minutes ago above the $ 15,500 price area.
Buyers need to keep the Bitcoin price above the $ 15,460 price area in order to continue and consolidate above the $ 15,460 price area and thereby continue positive developments above the $ 15,600 price area and go in search of the $ 15,800.
Resistances: U $ 15,619 // U $ 15,671 // U $ 15,704 // U $ 15,736.
Support: U $ 15,567 // U $ 15,517 // U $ 15,468 // U $ 15,407.
https://www.tradingview.com/x/E7dDszfY/
BTC dominance 65.69%
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