Bitcoin Price Evolution Analysis 12.28.2021

By CSM TRADER | CSM TRADER | 28 Dec 2021

Bitcoin Price Evolution Analysis 12.28.2021

by CSM TRADER

Nº 492

BTC price U$ 49.020.

Price USD/BRL R$ 5.62.

Price EUR/BRL R$ 6.37.

Price Gold 1g R$ 329.90.

Good morning to all readers.

Punishments for scammers :

Prosecutors of online cryptocurrency fraud now risk a possible five-year prison sentence and a maximum fine of nearly $270,000 under the UAE's new Internet security regulations, which go into effect on January 2, 2022.

The crackdown was announced last month as part of President Sheikh Khalifa's series of sweeping legal reforms.

The new law expands the country's existing cybercrime rules to include the promotion of rogue cryptocurrency schemes that are not recognized by UAE authorities.

Despite the fact that many countries routinely issue warnings in this area, the UAE government has decided to go a step further by imposing heavy penalties on those who violate the law. Cybercriminals who promote cryptocurrency fraud on the Internet risk up to 5 years in prison and fines of up to 1 million DH ($272,259), as the country's government has strengthened its regulations to protect residents from cyber fraud.

Despite strong regulations and a crypto-friendly climate, UAE citizens have continued to fall victim to financial crimes. In fact, in the first half of 2021, consumers in Dubai alone lost about 80 million DH in hundreds of such frauds. The UAE police responded by issuing warnings to people about cryptocurrency trading and fake profit generation schemes.

Sincerely , DubaiCoin was one of the most complex phishing scams the city has had to deal with. The digital asset was marketed as having government backing, and investors jumped at the chance, causing its value to skyrocket in a short period of time.

Others were not so lucky, as nine individuals in the country were sentenced to ten years in prison earlier this month for defrauding people out of 18 million DH through a bitcoin trading scheme for quick enrichment.

When it comes to creating a comprehensive and inclusive crypto framework, the UAE is at the forefront. The Dubai World Trade Center was declared a comprehensive crypto zone and regulator earlier this month, allowing it to create a huge hub for the industry's expansion.

Bitcoin price follows a downtrend below the price area of $50,200 and the EMA 100 (H1).

The price of Bitcoin in past sessions has continued its positive developments above the price areas of $50,500, $51,000 and even testing the $52,134 price area.

A Double Top Pattern was formed between the price areas of $51,805 and $52,134; as the market does not forgive Double Tops, came the strong negative corrections downward from the price areas of $52,000, $51,000, $50,000, $49,000 and testing the price area of $48,555.

Now at the time of writing the Bitcoin price is tracking in the U$48,972 price area.

The Bitcoin price would need to return with its positive developments upwards from the U$49,000 and U$49,500 price areas, for further consolidations to take place and continue with the positive developments upwards of U$50,000 again.

The price of Bitcoin could try to move above $50,000 and not succeeding in getting new consolidations above $49,880 and $50,120; the negative corrections could come back below $49,500 and $48,500, and could still move below $48,000 and go in search of $47,500, where if this support does not hold the odds of continuity in search of the bottom formed in the price area of $45,600 could happen.

Only with the turns of the consolidations above U$48,800 and with the turns of the positive evolutions above U$49,500, for the Bitcoin price to leave a risk area of the continuities of the negative corrections below U$48,000 and U$47,780.

Buyers in the pair attempt positive developments above $49,220, or even above the EMA 5.

Major Resistance areas - $49,200, $49,780 and $50,126.

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

H4 chart :

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

The Bitcoin price is tracking within the Ichimoku Green Cloud and would need to break out above it for positive developments to get back above $49,500 and $50,000, but; this scenario would need a strong bullish leg at this point.

With the Bitcoin price inside the Ichimoku Cloud the odds of an exit below it or consolidating inside the Cloud could happen; if the price exits below the Ichimoku Cloud the negative corrections will go to the bottom formed in the U$48,200 price area.

Only with positive advances upward of the 100 and 50 EMAs for the Bitcoin price to break out of a risk area of continued negative corrections below $48,500.

Buyers continue to try to bar sellers above the $48,760 price area.

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

Resistances: U$ 49.327 // U$ 49.632 // U$ 50.035 // U$ 50.322.

Supports: U$48,907 // U$48,585 // U$48,316 // U$47,991.

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

H1 chart :

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

Bitcoin price needs to stay above U$48,780 for further consolidations to take place, and with that, the probabilities of positive evolutions back above U$49,500 can occur.

The Ichimoku Cloud is showing a possible resumption of positive Bitcoin price moves above $49,500 and $50,120, and also has a very thin passage in the $49,500 price area.

But; only above U$ 49,500 and with good consolidations or a strong bullish leg for the Bitcoin price try the continuities of positive developments back and above the Ichimoku Cloud.

If the Bitcoin price fails to stay above $49,500 for a few sessions, the downside corrections will come back below $49,000 where a search for the $48,500 price area will happen.

Only above the EMA 5 and 20 for the Bitcoin price to continue with positive developments for attempts to go towards the Ichimoku Cloud.

Follow the buyers in their attempts to move above EMA 5 which is now a strong resistance to be overcome.

Resistances: U$ 49.317 // U$ 49.644 // U$ 49.904 // U$ 50.203.

Supports: U$ 48,910 // U$ 48,550 // U$ 48,127 // U$ 47,803.

https://www.tradingview.com/x/BCRN2Cgd/

Dominance: 40.96 %.

" The smallest of actions is always better than the noblest of intentions. " ----- Robin Sharma

Continue to follow My Analysis also on Tradingview:

https://br.tradingview.com/chart/BTCUSDTPERP/yufdYcqn/

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