Bitcoin Price Evolution Analysis 11.12.2021

by CSM TRADER                                                                                                                 

 N.º 464

BTC price U$ 64.230.  

Price USD/BRL R$ 5.39.

Price EUR/BRL R$ 6.17.

Price Gold 1g R$ 324.14.

Good morning to all readers.

Elon Musk's Dogecoin-funded mission is now scheduled to launch in the first quarter of 2022. The launch was announced in May this year, when the billionaire tweeted about it. The mission is fully paid for in Doge and will not only be the first cryptocurrency in space, but also the first meme coin in space. This was announced at the height of the Dogecoin rally following Musk's public support for the digital asset earlier this year. The news of the mission further boosted the value of the coin, as Dogecoin was about to make history with this launch. Musk had announced that the mission, known as DOGE-1, would be launched in 2022 and it seems that the project is progressing on schedule. According to a report released on Wednesday, the DOGE-1 mission is ready for launch in early 2022. SpaceX has partnered with two Blockchain companies, Unizen and ZenX, to bring the project to fruition. The CubeSat, which weighs 40 kilograms, will be launched into orbit as a new use case for the crypto space. The CubeSat will collect information through various methods, including sensors, cameras, and mirrors, and relay this information back to Earth.

The Bitcoin price is still in a downtrend at below the $65,300 price area and the 100 EMA (H1).

The Bitcoin price in past sessions followed consolidations between the $64,260 and $65,260 price areas, and tried 4 times to break the EMA 100 (H1), but without success.

Now at the time of writing the Bitcoin price is tracking in the U$64,666 price area, after a violent lurch out of the U$64,930 price area and into the U$63,708 price area.

The Bitcoin price needs to hold above the EMA 200 (H1), and give the consolidations continuities and return attempts to break through the EMA 100 (H1) or even the U$65,500 price area.

If the Bitcoin price starts opening candles below the EMA 200 (H1) the negative corrections could enter the price area of $63,880 and go in search of the last bottom in the price area of $62,400 and still extend below $62,000.

Only with the turns of the positive developments above the EMAs 5 and 20 (H1) for the Bitcoin price to get out of a risk area of the continuities of the negative corrections below the EMA 200 (H1).

The Ichimoku Cloud still shows corrections for the coming sessions.

A test of the $62,400 price area is not yet ruled out, where the possibilities of tests further below $62,000 could occur, for the next few sessions.

A close of the Journal was made in the price area of $64,830.

For today a close above the $63,780 price area is very important.

Sellers remain in control of the situation where they could still go for a test in the $62,400 price area for the next few sessions.

Buyers will have the hard work of trying to make the necessary moves above the $64,500 and $65,000 price areas to begin to break out of a risk area from the continuities created by sellers below $64,000 and $63,780.

Major areas of Resistance - $64,500, $64,920 and $65,260.

Major Support areas - $63,690, $63,200 and $63,000.

H4 chart :

Bitcoin price follows above the 200 and 100 EMAs and slightly above the Ichimoku Cloud, however it follows below the 50, 5 and 20 EMAs.

The Bitcoin price has already lost the EMA 50 and is looking for a break of the EMA 100.

It will be of utmost importance that the Bitcoin price follows above the Ichimoku Cloud, as there is a thinner part of the Ichimoku Cloud where it could pass below, and then the downside corrections could extend below the EMA 100 and the $63,000 price area.

Follow the buyers in attempts to stop the sellers above the Ichimoku Cloud and above the EMA 100.

The chart on H4 will follow all week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.

Resistances: U$ 64,492 // U$ 65,242 // U$ 66,091 // U$ 67,018.

Supports: U$ 63,406 // U$ 62,286 // U$ 61,393 // U$ 60,465.

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

H1 chart :

Bitcoin price follows below the EMAs and below the Ichimoku Cloud.

The Bitcoin price after consolidating above U$ 64,000, has again started with its negative corrections downwards from the U$ 64,000 price area and the 200 EMA.

Now at the time of writing the Bitcoin price is already in the U$63,720 price area and the probabilities of testing attempts at the U$62,400 price area, could arise.

Ideally, the Bitcoin price should make a larger bottom than its previous one, i.e. above U$ 62,400, for the possible returns of positive developments upwards of U$ 63,000 and U$ 64,500.

But it seems that these downward corrections could move into the price area of $61,780 and $61,220, where buyers will have to stop sellers at any cost because below $61,000, sellers will gain more strength and will look for the price areas of $60,000 and $57,500.

Follow the buyers in their attempts to bar the sellers above U$63,000.

Resistances: U$ 64,079 // U$ 64,575 // U$ 65,092 // U$ 65,641.

Supports: U$ 63,583 // U$ 63,066 // U$ 62,654 // U$ 62,084.

https://www.tradingview.com/x/8jiFhqM3/

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Nº 464