Bitcoin Price Evolution Analysis 12.22.2021

by CSM TRADER                                                                                                                 

 Nº 487

BTC price U$ 49.038.  

USD/BRL price R$ 5.74.

Price EUR/BRL R$ 6.48.

Price Gold 1g BRL 5.74.

Good morning to all readers.

Growth and FOMO for crypto in 2022.

BlockFi cofounder and senior vice president of operations Flori Marquez shared the company's view on the data collected from customers and shed some light on the growth of the crypto industry, as they have seen "large movements" of Americans interested in it, suggesting a flourishing adoption.

During an interview with Yahoo Finance, Flori Marquez shared some interesting numbers. Year over year, Bitcoin has returned 112%, and compared to gold and S&P, respectively, she said, "that's negative 4% and 24%."

So year over year, it's been volatile over the last 30 days. But it's still a great investment for those who were participating a year ago.

Marquez says this year was big for crypto in terms of mainstream consumer demand, which led BlockFi to poll among customer data to try to understand their opinion of Bitcoin at the moment.

A Chainalysis survey shows that as of October 2021, global crypto adoption has grown by over 2300% from Q3 2019 and over 881% in the past year, as many countries face devaluations and citizens around the world want to protect their economies, and there is also a big boost coming from institutional investment. The total market capitalization of crypto reached $3 trillion in 2021 and currently stands at $2.2 trillion.

Bitcoin price follows uptrend above the $47,830 price area and the 100 EMA (H1).

The Bitcoin price in the past sessions even tested the $49,599 price area and came back with its negative corrections to the $49,000 price area; it was in consolidations above the $48,400 price area, and continues to evolve positively so far above $48,500 and above the EMA 20 (H1).

Now at the time of writing the Bitcoin price is tracking in the $49,044 price area.

The Bitcoin price needs to hold above the EMA 20 (H1) or even above the U$48,500 price area if it is not to enter into heavier downside corrections below U$48,220 and U$48,000.

It will be necessary for the Bitcoin price to again achieve the positive developments above the price areas of $49,300 and $49,500, to the turns of the attempts to break through the $49,599 and head above the long-awaited $50,000.

It will be of utmost importance that the Bitcoin price achieves the necessary evolutions above U$ 52,000 / U$ 53,000, to invalidate the turns of the negative corrections below U$ 48,000 and U$ 47,000.

Only above the EMA 20 (H1) and above $48,500 for the Bitcoin price to break out of a risk area of possible negative correction turns below $48,000.

Buyers remain in control of the situation, but need to keep the Bitcoin price above $48,500 for the next few sessions.

Major Resistance areas - $49,300, $49,600 and $50,000.

Major Support areas - $48,800, $48,500 and $48,000.

H4 chart :

Bitcoin price follows above the 50, 20 and 5 EMAs and the Ichimoku Cloud, and struggles to stay above the 100 EMA, but remains below the 200 EMA.

The Bitcoin price needs to conquer the EMA 100 and follow through with consolidations above it for positive developments to move positively above $49,600 and $50,000.

If the Bitcoin price fails to make positive moves above the EMA 100, negative corrections could come back below $48,600 and could test the Ichimoku Cloud in the $48,060 price area.

Buyers are still trying to keep Bitcoin's price above the 100 EMA, which will be extremely important for the next few sessions.

The chart on H4 will follow all week long in order to have a parameter of the Bitcoin's Price Evolution. Only a few adjustments will be made.

Resistances: U$ 49.568 // U$ 50.307 // U$ 51.259 // U$ 51.799.

Supports: U$ 48.843 // U$ 48.204 // U$ 47.578 // U$ 46.996.

https://www.tradingview.com/x/vXV02PmL/

H1 chart :

Bitcoin price follows above the 100, 200, 50 and 20 EMAs and above the Ichimoku Cloud and a little bit above the 5 EMA.

It will be of utmost importance that the Bitcoin price for the next few sessions stays above the EMA 20 and comes back with consolidations above the EMA 5 for the returns of the attempts of the breakout of the $49,500 and $49,600 price areas, for the possible positive advances above the $50,000.

If the Bitcoin price fails in these positive advances above the $49,600, the negative corrections could come back below the EMAs 5 and 20 and follow below the $48,800 and $48,500.

Only above the EMAs 5 and 20 for the Bitcoin price to stay out of a risk area of negative corrections back below $48,800.

Follow the buyers in the attempts of the continuities of the positive advances above the EMA 5.

Resistances: U$ 49.099 // U$ 49.331 // U$ 49.568 // U$ 49.825.

Supports: U$ 48.841 // U$ 48.589 // U$ 48.352 // U$ 48.003.

https://www.tradingview.com/x/rNd1gHSI/

Dominance: 41.32 %.

" Great spirits have always met violent opposition from mediocre minds. " ------- Albert Einstein

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Nº 487