Bitcoin Price Evolution Analysis 12.15.2021
by CSM TRADER
Nº 482
BTC price U$ 48.250.
Price USD/BRL R$ 5.68.
Price EUR/BRL R$ 6.40.
Price Gold 1g R$ 322.04.
Good morning to all readers.
Tesla accepts Dogecoin for goods, and token soars 30%.
Tesla CEO Elon Musk said that the electric car maker will accept dogecoin as payment for its products, causing the cryptocurrency to soar 30%
Prior to Musk's revelation, the price of dogecoin was falling, but immediately rose as much as 30%. According to the cryptocurrency statistics website Coinmarketcap , it recently rose 26% to $0.2092.
Musk stated in a May tweet that he was collaborating with dogecoin developers to increase the efficiency of the system. As a result, dogecoin prices rose 22%. Then, in June, he tweeted that it was "critical to support" a proposal to reduce Dogecoin fees, making the cryptocurrency more competitive with other cryptocurrencies.
Musk, who has more than 66 million followers on Twitter, was heavily involved in this year's retail trading mania, tweeting about cryptocurrencies and helping move their prices.
On Monday, the world's richest man was named Person of the Year by Time magazine. The publication called Musk a "clown, genius, edgelord, visionary, industrialist, showman and cad."
Musk argued that dogecoin is better suited for transactions than bitcoin in his statement. BTC, according to the Tesla CEO, is more suitable as a store of value. He also said that he "doubts that crypto will replace fiat currency."
However, at the end of the third quarter, Tesla still had $1.26 billion in BTC on its balance sheet. DOGE is not owned by the company. Musk, on the other hand, has previously stated that he owns dogecoin, bitcoin, and ether.
The price of Bitcoin follows an uptrend above the price area of $48,170 and just above the EMA 100 (H1).
The Bitcoin price in past sessions has managed its positive moves above the EMA100 (H1), or even above the price areas of $46,500, $47,000, and $48,000 and even testing the $48,784 price area.
Now at the time of writing the Bitcoin price is tracking in the U$48,300 price area.
The Bitcoin price needs to stay above the EMA100 (H1) to continue its positive developments above $48,500 and attempt for the 4th time the breakout of the $48,800 price area.
If the Bitcoin price makes the necessary advances above $48,800, the positive developments could move above the $49,000 price areas.
Above $49,000, the Bitcoin price will have to fight to stay above the 200 (H1) EMA in order not to return all positive developments below $48,500 and $48,120, or even below the 100 (H1) EMA.
If the Bitcoin price in the near term were to lose the EMA 100 (H1), the negative corrections would follow below the price areas of $48,000 and $47,500, and could even extend the negative corrections below $46,780.
Only above the EMA 100 (H1), for buyers to continue with the attempts of positive developments above $49,000 and $49,500.
A close above the $48,315 price area was made.
For today, a close above the $49,500 price area would be important.
Buyers need to keep Bitcoin's price above the U$48,000 price area for the next few sessions.
If buyers lose the U$48,000 price area. sellers will come in strong in control of the situation and have created the downside below the U$47,780 and U$47,500 price areas.
Major Resistance areas - $48,500, $48,880 and $49,220.
Major Support areas - $48,000, $47,500 and $47,120.
H4 chart :
Bitcoin price is tracking above the 5 and 20 EMAs, but is tracking below the 50, 100 and 200 EMAs and below the Ichimoku Cloud.
The Bitcoin price needs to stay above the Ichimoku Cloud Base Line (red line) in order not to enter negative corrections below the $48,000 and $47,500 price areas.
It will be of utmost importance that the Bitcoin price returns with its positive evolutions above the price area of U$48,500 and tries the breakout of U$48,800, a passage through the thinner part of the Ichimoku Cloud (blue arrow) could occur, where on the other hand there is the Peak of the Ichimoku Cloud.
Only with continued consolidations and positive developments above the Base Line of the Ichimoku Cloud, for the price of Bitcoin not to return with negative corrections below $47,500 and $47,000.
Buyers continue to defend the Ichimoku Cloud Base Line.
The chart on H4 will follow all week to get a parameter of Bitcoin's Price Evolution. Only some adjustments will be made.
Resistances: U$ 48.448 // U$ 48.803 // U$ 49.222 // U$ 49.595.
Supports: U$ 48.011 // U$ 47.574 // U$ 47.228 // U$ 46.621.
https://www.tradingview.com/x/L13HHQDv/
H1 chart :
Bitcoin price follows above the 20, 40 and 100 EMA and the Ichimoku Cloud, however struggles to hold above the 5 EMA, and follows below the 200 EMA.
It will be of utmost importance that the Bitcoin price stays supported above the 100 EMA, so as not to have the negative corrections turn below $47,500.
Only above the EMA 100 and with continued consolidations and positive advances above $48,500 will the Bitcoin price leave a risk area of negative correction turns below $47,500 and $47,000.
It follows buyers in the fight with sellers to keep the Bitcoin price above the 100 EMA.
Resistances: U$ 48,373 // U$ 48,605 // U$ 48,783 // U$ 48,988.
Supports: U$48,179 // U$48,018 // U$47,747 // U$47,581.
https://www.tradingview.com/x/71llKvp9/
Dominance: 42.23 %.
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Nº 482
