Bitcoin Price Evolution Analysis 12.23.2021

by CSM TRADER                                                                                                                

 Nº 488

BTC price U$ 48.400.  

Price USD/BRL R$ 5.65.

Price EUR/BRL R$ 6.39.

Price Gold 1g R$ 330.60.

Good morning to all readers.

ETH 2.0 :

Betting on the Ethereum network has increased since the change to proof of stake was announced. Instead of requiring miners to compete and verify blocks as in working proof, the network now requires validators who need 32 ETH to run a node. Each validator is rewarded for helping to confirm transactions on the network and making it safer to use.

The number of ETH wagered on the network has quickly reached 5% of the total supply less than a year after the launch of the Beacon Network. December marks a full year after launch and there are now more than 8.6 million ETH wagered on the network, worth a total of $33.5 billion. The number of validators has also grown to over 271,000 in this time.

There is already a total of 7.33% of the total ETH supply staked on the Ethereum network and this number is expected to grow in the coming months as the merger approaches. After the merger is completed, APY is expected to increase due to unburned fee revenue and MEV, which will now go to the stakers instead of the miners in the new stake proofing mechanism.

The race to fully merge with Ethereum 2.0 is still on, but some infrastructure has been put in place to make sure the network gets there. One of these is the multi-operator validator network, Lido, built by the Obol Network. This allows for net staking tokens on the Ethereum network.

Bitcoin price follows me uptrend above the price area of U$48,000 and above the EMA 100 (H1).

The Bitcoin price in the past sessions failed to make the necessary positive moves upwards from the $49,200 price area and started with negative corrections downwards from $49,000, $48,500 and even testing the $48,020 price area.

Now at the time of writing the Bitcoin price is tracking in the U$48,346 price area.

The Bitcoin price needs to hold above the EMA 100 (H1) for the consolidations to continue and with that the Bitcoin price could move above the U$48,500 and U$48,780 and start with further consolidations above the EMA 50 (H1), which is serving as resistance at this time.

It will be of utmost importance that the Bitcoin price positively advances above the EMA 50 (H1) for the next few sessions or even above U$48,500.

If the Bitcoin price were to lose the EMA 100 (H1), negative corrections will move below the U$48,000 price area and go for a test in the U$47,500 price area.

Only above the EMA 50 (H1) and with strong consolidations above it, for the Bitcoin price to return to attempts at the positive advances above U$49,000.

A Daily closing above the U$48,570 price area was made.

A close above the $48,880 price area would be important for today.

Buyers still remain in control of the situation above the 100 EMA (H1).

It will be important for buyers to defend the $48,000 price area as below it, sellers will gain more strength where they may go in search of the $47,500 and $47,220 price area.

Major Resistance areas - $48,400, $48,880 and $49,300.

Major Support areas - $48.00, $47,680 and $47,220.

H4 chart :

The Bitcoin price follows above the EMA 50 and 20 and above the Ichimoku Cloud, but follows below the EMAs 5, 100 and 200.

The Bitcoin price needs to stabilize above the EMA 20 for positive developments to continue above the price areas of $48,500 and $49,000.

It will also be of extreme importance for the Bitcoin price to remain above the Ichimoku Cloud where if it enters it, the odds of a search for the Ichimoku Cloud Base Line (red line) will occur, where if it is broken, the negative corrections will go below the U$47,500 and U$47,220 price areas.

Only with continued consolidations and positive advances above $48,500 and $48,780 will the Bitcoin price move out of the risk area of negative corrections into the Ichimoku Red Cloud.

Follow the buyers in attempts to keep the Bitcoin price above the Ichimoku Cloud and above the 50 and 20 EMA.

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$ 48.433 // U$ 48.778 // U$ 48.113 // U$ 49.478.

Supports: U$ 48,037 // U$ 47,560 // U$ 47,104 // U$ 46,617.

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

H1 chart :

Bitcoin price follows above the 100 and 200 EMA, however it follows below the 5, 50 and 20 EMAs and is inside the Green Ichimoku Cloud.

It will be necessary for the Bitcoin price to remain above the 100 and 200 EMA for the next few sessions and with its continued consolidations above them, so that positive developments can emerge and move above the $48,500 and $49,000 price areas.

If the Bitcoin price loses the 100 and 200 EMA, the negative corrections will go in search of the $47,500 price area, and could extend all the way to $47,220.

It follows buyers in the fight with sellers to keep Bitcoin price above the EMA 100 and 200 or even above U$48,000.

Resistances: U$ 48,447 // U$ 48,710 // U$ 48,932 // U$ 49,112.

Supports: U$48,116 // U$47,864 // U$47,564 // U$47,244.

https://www.tradingview.com/x/SDVGe5ZN/

Dominance: 41.05 %.

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Nº 488