Bitcoin Price Evolution Analysis 11.26.2021

by CSM TRADER                                                                                                                 

 Nº 471

BTC price U$ 54.400.  

Price USD/BRL R$ 5.56.

Price EUR/BRL R$ 6.28.

Price Gold 1g R$ 320.49.

Good morning to all readers.

Is the US marching towards more crypto hostility?

During an interview with MSNBC , Hillary Clinton continued to suggest hypothetical scenarios in which cryptocurrencies could destabilize the United States and called on the Biden administration to regulate them, as she fears that state and non-state actors will manipulate the role of the US dollar. Hillary warned that people are just beginning to see the need to regulate cryptocurrency markets and called for imagining "the combination of social media, the algorithms that drive social media, the accumulation of even larger sums of money through the control of certain cryptocurrency chains." The former presidential candidate has expressed her uncontrollable views on cryptocurrencies before, seeing them as a threat to the United States. Hillary thinks that the Biden administration needs to address many issues related to the role of cryptocurrencies in the country and its economy, but added that they may not have much time to do so.  The former Secretary of State expects the current administration to try to operate "exactly" the way she sees fit based on what she has "heard from them," i.e., the views that regulations match their hostility.

The Bitcoin price is still in a downtrend below the U$56,000 price area and the 100 EMA (H1).

Bitcoin price in the past sessions managed to advance above the $58,500 and $59,000 price areas, even testing the $59,449 price area.

After 2 attempts to break through the U$59,500 resistance the Bitcoin price made a Double Top Pattern and started with negative corrections downwards from the U$59,000, U$58,000, U$57,000, U$56,000, U$55,000 price areas and just now testing the U$53,887 price area.

Now at the time of writing the Bitcoin price is tracking in the $54,608 price area.

The Bitcoin price would need to return with its positive developments above the U$56,000 price area or even above the EMA 5 for new consolidations to be made and with that the possibilities of a return above the U$57,000 and U$57,500 could occur and stay above the same for new consolidations and the attempts of the positive advances above the U$58,000.

On the other hand, the price of Bitcoin could continue its negative corrections even below the price areas of $53,500 and $52,500, where it could extend these negative corrections up to the $51,780 price area.

Only with the returns of positive developments above the EMAs 5 and 20 and still making a new top above the price area of $56,000, for the price of Bitcoin to leave a risk area of continued negative corrections below $54,000 and $53,500.

A Journal close was made above the U$58,988 price area.

A close above the $54,780 price area would be important for today.

Sellers have regained full control of the situation after buyers failed to continue above the $59,500 price area.

Only above the EMA 100 or even above $57,000 will buyers begin to reverse the situation.

Major Resistance areas - $55,000, $56,000 and $56,420.

Major Support areas - $54,000, $53,560 and $53,120.

Chart D1:

As written in My previous Analyses, the Bitcoin price was going to make the test at the 100 EMA and that's what happened, and it even broke through it.

Now Bitcoin price will go in search of the EMA 200.

And Bitcoin price will stay below the Ichimoku Green Cloud, for the next few sessions.

https://www.tradingview.com/x/JDaTYL6O/

H4 chart :

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

Bitcoin price follows in strong negative corrections below the EMAs.

The Bitcoin price needs to stay above the $54,000 price area in order not to have the continuities of negative corrections downward from the $53,500 and $52,780 price areas for the next few sessions.

Only above the EMA 5 for the Bitcoin price to try to reverse this situation in the short term of the continuities of the negative corrections.

Follow the buyers in attempts to keep the Bitcoin price above U$ 54,000.

The chart in H4 will follow the whole week to have a parameter of the Bitcoin Price Evolution. Only a few adjustments will be made.

Resistances: U$ 54,848 // U$ 55,719 // U$ 56,259 // U$ 56,860.

Supports: u$ 53,935 // u$ 53,064 // u$ 52,193 // u$ 51,487.

https://www.tradingview.com/x/ZoXZUW9q/

H1 chart :

Bitcoin price is tracking below the EMAs and below the Ichimoku Cloud.

Bitcoin's price is not making it back above the $54,500 price area, which could lead to continued downward corrections below $53,500 and $53,000 for the next few sessions.

Only above U$ 55,500 for the price of Bitcoin to attempt to start with returns of the positive developments upwards of U$ 56,000 and U$ 57,000.

Sellers are eyeing the $50,000 price area.

Follow the buyers in attempts to bar sellers above U$53,500.

Resistances: U$ 54,507 // U$ 55,217 // U$ 55,927 // U$ 56,636.

Supports: u$ 53,661 // u$ 52,624 // u$ 51,641 // u$ 50,440.

https://www.tradingview.com/x/qX4Z3TS3/

Dominance: 42.93 %.

"The problem is not the problem. The problem is the attitude toward the problem. " ----- Kelly Young

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Nº 471