Bitcoin Price Evolution Analysis 11.12.2020

by CSM TRADER

 nº251

 BTC price U $ 17,868.

BTC price on Braziliex R $ 90,101.

Price USD / BRL R $ 5.02.

Price EUR / BRL R $ 6.09.

Gold Price 1g R $ 299.97.

Good morning to all readers.

Bitcoin price follows a downward trend below the $ 18,000 price range.

The price of Bitcoin has again failed to exceed the $ 18,500 price range and with that corrections have come, and are evolving below the resistance that was once a support, in the $ 18,000 price range.

Now at the time of writing the price of Bitcoin is in the price range of $ 17,840.

The odds that the Bitcoin price will test the $ 17,650 price area again are at stake.

If the price of Bitcoin breaks through this price range of $ 17,650, the negative disadvantages could advance further down, reaching the price area of ​​$ 17,550, $ 17,400 and $ 17,260.

Only an advance above the price area of ​​U $ 17,920 or above EMA 20 with stability and consolidations above them, can reverse these negative developments, and possibly evolve above U $ 18,000 and will still have to face the great resistance of the U $ 18,200.

A daily close was made above the price range of U $ 18,248 and below U $ 18,500.

For today, a close above U $ 17,760 would be important.

Sellers are in complete control of the situation and are creating disadvantages below the $ 18,000 price range.

Buyers in past sessions failed to make an advance above the price range of $ 18,400 and $ 18,500, for a good close of the daily, and with that the sellers took advantage of the buyers' exhaustion and got in control of the situation and gained more strength under $ 18,000 support.

Vendors follow the price of Bitcoin now at the time of writing, in the price range of $ 17,868 and will be able to continue disadvantages below $ 17,700.

It will be very important for buyers to try to stop sellers above the $ 17,650 price range, as below this price area, sellers will be able to continue disadvantages below $ 17,500 and may extend further below $ 17,400 and $ 17,200.

Buyers closed the diary at a price point of $ 18,250.

For today, a good close would be above the price area of ​​U $ 17,780. The ideal would be over $ 18,000.

It follows sellers in an attempt to extend the disadvantages below the $ 17,800 price range.

Bitcoin TODAY on Braziliex: H1

Bitcoin price today on Braziliex remains below the R $ 92,200 price range.

The Bitcoin price on Braziliex has failed to recover upwards above the R $ 93,200 price area and as a result negative corrections are emerging below the R $ 92,200 price area.

The price of Bitcoin on Braziliex now at the time of writing remains in the price range of U $ 90,103 and the probabilities of negative advances below R $ 90,000 may arise and still extend below R $ 89,600, where there will have to be a reversal for no more disadvantages below R $ 89,000 and R $ 88,500.

Buyers lost control of the situation below the R $ 92,000 price range after failing to perform well above the R $ 93,000 price range.

The salespeople are in control of the situation and may gain more strength below the price range of R $ 92,000 and R $ 90,000.

It will be extremely important for buyers to try to stop sellers above the R $ 90,400 price area, as below this price area sellers will be able to continue with disadvantages where they can take the Bitcoin price below the R $ price area. 89,500 and with this, these disadvantages can still be extended below R $ 88,280.

Only an advance by buyers above the R $ 92,600 price area can reverse this situation of further losses; in the short term.

Follow buyers on Braziliex in an attempt to bar sellers above the R $ 91,000 price range.

Resistances: U $ 90,514 // U $ 90,949 // U $ 91,448 // U $ 92,061.

Support: U $ 90,086 // U $ 89,409 // U $ 88,781 // U $ 88,185.

https://www.tradingview.com/x/2IEl3CBR

Graph: H4

Bitcoin's price remains below EMAs and very low in the Ichimoku Cloud.

Bitcoin's price follows a downward correction below the $ 17,880 price range.

Only an advance above the $ 18,000 price range and the continuity above the strong resistance of $ 18,200 to reverse these disadvantages below $ 18,000 for the next sessions.

The odds of further disadvantages below the $ 17,700 and $ 17,650 price range may arise and still extend below the $ 17,550.

It will be extremely important that the price of Bitcoin stays above the support of U $ 17,220 to not have the possible disadvantages below U $ 17,000.

Sellers continue to control the situation and continue to try to force the disadvantages below the $ 17,720 price range, where the primary target would be in the $ 17,650 price range.

On the other hand, buyers will have to bar sellers above this $ 17,650 price range to avoid further disadvantages created by sellers below the $ 17,600 and $ 17,550 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 $ 17,826 // U $ 18,026 // U $ 18,167 // U $ 18,312.

Support: U $ 17,694 // U $ 17,501 // U $ 17,361 // U $ 17,202.

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

Graph: H1

Bitcoin's price is below the EMAs and below the Ichimoku Cloud.

Bitcoin's price now in the writing garden follows below the $ 17,660 price range.

The disadvantages are extending below the $ 17,650 price range where the probabilities of further disadvantages below the $ 17,550 price range may arise and extend further below the $ 17,460 and $ 17,360 price points.

A trend reversal above the $ 17,800 price range seems unlikely, as the Bitcoin price looks like it is going to be tested in the $ 17,000 price range.

The sellers remain in full control of the situation and have already tested the price area of ​​the $ 17,570 where they can go back to testing again and still go beyond this price area and further extend the disadvantages below the price area of ​​the $ 17,550 and $ 17,460.

Only strong input from buyers to reverse this situation.

Follow the sellers in an attempt to return developments below the $ 17,760 price range.

Resistances: U $ 17,852 // U $ 17,996 // U $ 18,113 // U $ 18,225.

Support: U $ 17,728 // U $ 17,610 // U $ 17,483 // U $ 17,326.

https://www.tradingview.com/x/681CZuSo/

Technical indicators: H1

RSI: The RSI at the BTC chart's H1 time is at level 34 and with a slight upward bias.

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

MACD: The MACD at the BTC chart time is at level 106 with a downward bias.

https://www.tradingview.com/x/EXHI1zIf/

OBV: The OBV at the BTC chart time H1 is at level 146 and has a downward bias.

https://www.tradingview.com/x/qHvDET0F/

Graph: M5

Bitcoin's price follows below VWAP (wine line) and below BB's central line (red line).

The price of Bitcoin has now barely tested the $ 17,570 price area and the probabilities of a new test and the extent of further disadvantages below this price area could occur and extend below the $ 17,500 and $ 17,460 price points.

Vendors are in full swing and want to play the lowest Bitcoin price of $ 17,500.

The odds of sellers testing the $ 17,000 price range still remain strong.

Only strong input from buyers and developments above the $ 17,940 price range can reverse this situation in the short term.

Resistances: U $ 17,792 // U $ 17,847 // U $ 17,881 // U $ 17,931.

Support: U $ 17,729 // U $ 17,690 // U $ 17,640 // U $ 17,580.

https://www.tradingview.com/x/H1h7Douh/

BTC dominance 62.70%

As Finney said in March 2011:

“The computational power of the network is proportional to the difficulty; and it seems that the difficulty is proportional to the price of bitcoin. It follows that, unless bitcoins become substantially more valuable than they are today, the Bitcoin network will never be substantially more resistant to attack than it is today. In order for Bitcoin to succeed and become secure, bitcoins must become much more expensive. "

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nº251