Bitcoin Price Evolution Analysis 12.21.2021
by CSM TRADER
Nº 486
BTC price U$ 48.530.
USD/BRL price R$ 5.74.
Price EUR/BRL R$ 6.48.
Price Gold 1g R$ 329.00.
Good morning to all readers.
5 Trends to watch in 2022 :
Crypto has taken over the headlines in 2021. From NFTs to the metaverse, there wasn't a slow news day. The rapid growth of cryptocurrencies presents an investment opportunity not only for ordinary people, but also for large corporations.
Digital assets are on the rise as a result of technical advances. More countries around the world are trying to implement decentralized technology as payment options. You should know which cryptocurrency trends will be relevant in 2022 to get profitable investments in this market.
- NFT
In the year 2021, Non-Fungible Tokens (NFTs) were the hottest topic in the blockchain world. Artworks like The First 5000 Days , by Beeple, reached astronomical prices, bringing the concept of unique digital tokens stored on blockchains firmly into the public mind. It is also well established in the music industry, with bands such as Kings of Leon, Shawn Mendes, and Grimes all releasing NFTs.
The metaverse hit the public consciousness in Q4 2021 with Facebook , Microsoft, Baidu , Huawei buying into the hype. The metaverse is based on NFTs and ownership tokenization, which can connect the physical and digital worlds.
NFT platforms like OpenSea, games like Axie Infinity and artworks like CryptoPunks now have their own team of merchants, creators and service providers. In 2021, the number of unique NFT wallets increased by more than 1000 percent, a trend that is expected to continue in the new year.
- Play-to-earn games have great potential :
Axie Infinity , Splinterlands , Decentralands and The Sandbox are examples of games to win that are constantly introducing encryption to the public and increasing access to DeFi and NFT. According to the results of a Coinlist poll, the interface between DeFi and games will continue to gain momentum in 2022, and gaming-focused platforms like Flow and Immutable X will become more important. A new generation of gamers will be able to own in-game assets and trade them on secondary markets thanks to blockchain. As a result, these ecosystems are projected to witness significant advances in the coming year and be widely appreciated.
We may see gaming companies enter the crypto industry through mergers and acquisitions next year. Ubisoft, a AAA gaming company, officially revealed that in-game products would be tokenized as NFTs on the Tezos network.
- Smart Contract adoption is expected to explode:
From NFT ownership to smart contracts, the Ethereum network is used for a wide range of applications. Due to the rapid proliferation and adoption of Ethereum-based projects, Ethereum network transactions will grow dramatically in 2021 (like NFTs). We expect smart contract networks like Ethereum and Solana to continue to grow in size and transaction value in the future as the network of participants and use cases expand.
- Bitcoin and altcoins :
Price forecasting is notoriously difficult, especially when it comes to Bitcoin and other digital assets.
In the current debate, targets above $100,000 are quite frequent, but are generally estimated to take at least several years. Given recent price volatility, such a target may seem like overkill, but the trend toward greater use and integration supports this prediction.
iven the strong macro winds and rising inflation, it is impossible to see a future in which Bitcoin falls into disrepair while the rest of crypto rises. Despite the fact that Bitcoin's market share has fallen from 70% to 41% this year, Ethereum remains the only real competitor. However, given the increasing competition Ethereum faces from other L1s, a flippening is unlikely to happen in 2022.
El Salvador became the first country to adopt Bitcoin as legal tender in September 2021. It is expected that as more countries adopt Bitcoin, the value will stabilize upward.
- Crypto regulation :
If 2021 was the year when there was talk about cryptocurrency regulation, 2022 is likely to be the year of action. Because, if nothing else, 2021 demonstrated that cryptocurrency is not going away anytime soon, which caused several regulators to sit up and take notice.
While some nations may maintain a restrictive stance on cryptocurrency, commentators believe that the overall trend will be toward greater acceptance of cryptocurrency, even if it means implementing some precautions. As regulators have a better understanding of the space, more bans on crypto are less likely.
National cryptocurrencies, in which central banks develop their own currencies that they can control rather than adopting existing decentralized ones, will also be expanded in 2022.
Stablecoins will be regulated in various parts of the world, with the United States, the European Union, and the United Kingdom in particular working on stablecoin regulation. The Crypto Asset Markets Regulation (MiCA) in the EU will follow the same path as the UK.
Bitcoin price follows me uptrend above the $47,200 price area and above the 100 EMA (H1).
Bitcoin price in the past sessions after a nice Double Bottom Pattern (W) and as a Double Top Pattern the market does not forgive the Double Bottom Pattern also the market does not forgive; and held above U$ 45,530, followed with the positive developments upwards from the U$ 46,000, U$ 47,000 and U$ 48,000 price areas where it tested the U$ 49,089 price area just now.
Now at the time of writing, the Bitcoin price is tracking in the U$48,666 price area.
The Bitcoin price needs to validate the W for continued positive developments to follow above the U$49,500 and U$50,220 price areas, where tests in the U$51,000 price area may emerge.
It will be necessary for the Bitcoin price to remain at least above the $48,220 price area to follow through with consolidations above this price area.
If the Bitcoin price were to fail to continue positive advances towards the breakout of the $49,500 and $50,000 price areas, the standard downside corrections would come back below the $48,500 and $48,000 price areas, where a stop above the $47,500 price area would be of utmost importance, or even above the 200 (H1) EMA, where a wait for the 20 (H1) EMA would be important as well.
Only above the EMA 5 (H1) and above the U$48,220, for the Bitcoin price not to return with the negative corrections and continue with the attempts of the breakout of the U$49,500 and U$50,000, for the next sessions.
Buyers remain in control of the situation and need to advance the Bitcoin price above the $49,500 and $50,000 price area.
If the buyers fail in these positive developments with the Bitcoin price upwards of U$49,500, the sellers will get into control of the situation and create the downside downwards of U$48,000.
Major areas of Resistance - $49,000, $49,500 and $50,000.
Major Support areas - $48,220, $48,000 and $47,880.
H4 chart :
Bitcoin price follows above the EMAs 20, 5 and 50 and above the Ichimoku Cloud, however it follows below the EMA 100 and 200.
A Double Bottom Pattern has been made in the $45,500 price area.
The price of Bitcoin has broken out above the Ichimoku Cloud and remains above it.
It will be necessary for the Bitcoin price to follow above the Ichimoku Cloud and wait for the 5 and 20 EMA to follow through with the breakout attempt at the $49,500 and $50,000 price area for the next few sessions.
It will be of utmost importance that the Bitcoin price stays above the Ichimoku Cloud in consolidations and manages to move positively above the EMA 100, which is quoted in the $49,044 price area, where new consolidations should be made for the attempts of the breakout of the $49,500.
Should the Bitcoin price fail to advance above $49,500 and $50,000, the downside corrections will move back below $48,220 and $48,000 and into the Ichimoku Cloud where an exit below $47,350 could occur.
A test of the EMA 200 could occur if the Bitcoin price holds for the next few sessions above the Ichimoku Cloud and manages to stay supported above the EMA 100.
Follow the buyers in their attempts to keep the Bitcoin price above $48,500, which will be of extreme importance for the next few sessions.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.
Resistances: U$ 49,077 // U$ 50,300 // U$ 51,501 // U$ 52,435.
Supports: U$ 47,876 // U$ 46,942 // U$ 46,075 // U$ 45,030.
https://www.tradingview.com/x/dauKpVHr/
H1 chart :
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
Bitcoin price follows in strong consolidations above the EMA 5 or even above the U$48,500 price area.
It will be of utmost importance that the Bitcoin price continues these consolidations above $48,500 and above the EMA 5 in order for the continuation of the positive advances to move towards attempts to break the $49,500 resistance and move above $50,000.
A Double Bottom Pattern has been made, it will be necessary to validate this pattern which is in the price area of $49,444, i.e.; important the breakout of $49,500 for the Bitcoin price to continue with the positive developments above $50,000.
If the Bitcoin price fails to validate the W, the negative corrections will return to below the U$48,500 and U$48,000, where a new bottom will have to be made above the U$47,000 price area, for the possible returns of the U$49,500 breakout attempts; or the Bitcoin price could go in search of the U$45,500 bottom.
Only above the EMA 5 and with continued consolidations above $48,220 for the Bitcoin price not to return with negative corrections below $48,000.
Follow the buyers in attempts to keep the Bitcoin price above the EMA 5 and above U$ 48,500.
Resistances: U$ 48,797// U$ 49,183 // U$ 49,495 // U$ 49,824.
Supports: U$48,440 // U$47,999 // U$47,642 // U$47,229.
https://www.tradingview.com/x/lfd3GbbD/
Dominance: 41.57 %.
"You will not grow unless you try something beyond what you have already mastered. ------- Ronald Osborn
Continue following my analysis also on Tradingview:
https://br.tradingview.com/chart/BTCUSDTPERP/2GXOmfY2/
Make your free card with Bitcoin cashback, on expenses from R$10. No need for partners.
By registering with the link you will earn more BTC on your purchases.
https://www.soualter.com.br/abra-sua-conta?c=CHRISTIAN14
Follow My Analysis on Twitter: https://twitter.com/CSM_Trader
Follow My Review on Flipboard: https://flipboard.com/@CSMTRADER007
Follow My Review on publish0x: https://www.publish0x.com?a=nXe0RKLGbx
Mine by playing: https://rollercoin.com/?r=ku32dbof
Nº 486
