Bitcoin Price Evolution Analysis 16.12.2020
by CSM TRADER
nº254
BTC price U $ 19,454.
BTC price on Braziliex R $ 99,499.
Price USD / BRL R $ 5.08.
Price EUR / BRL R $ 6.20.
Gold Price 1g R $ 302.62.
Good morning to all readers.
Bitcoin price follows an upward trend as long as it is above the $ 19,200 price area and above the EMA 50 and 100 (H1).
The price of Bitcoin a few past sessions came to test the $ 19,548 price range, but it lost strength and returned its downward correction reaching the $ 19,276 price range.
Now at the time of writing the price of Bitcoin remains above the price range of $ 19,400 and may extend positive advances above the price area of $ 19,500 and $ 19,550.
It will be important for the Bitcoin price to continue consolidations and positive developments staying above the price range of $ 19,286 as, below it, corrections may extend below the price areas of $ 19,160 and $ 19,080.
Bitcoin's price appears to be in consolidation for a major breakthrough above the price range of $ 19,550 and $ 19,680.
This advance and stability with consolidations above the price range of U $ 19,550 and U $ 19,660 will be extremely important for the next evolutions above U $ 19,740 and U $ 19,800.
If the price of Bitcoin goes into exhaustion you can start a correction that could go below the $ 19,260 price area where it will be necessary for the Bitcoin price to go above the support formed in the $ 19,000 price area for the disadvantages not to be much bigger.
A daily close was made above the $ 19,420 price range.
For today, a good daily close remains above U $ 19,360 and U $ 19,420. The ideal would be a daily close above U $ 19,520 for a new price area over U $ 19,500.
Buyers remain in control of the situation and as a result, developments above the $ 19,380 and $ 19,460 price areas are taking place.
Buyers failed to evolve directly above the $ 19,550 price range, and as a result, sellers got into control of the situation and created disadvantages that reached the $ 19,276 price area where buyers took back control of the situation and are yet.
Now at the time of writing, buyers have just exceeded the price range of $ 19,500 and $ 19,600, and are priced at Bitcoin in the price range of $ 19,644.
It will be important now that buyers are able to maintain and consolidate the Bitcoin price above the price range of $ 19,500 and $ 19,550 for new developments above this price area to occur and thereby the possibilities for positive advances above the area of price of $ 19,700 and $ 19,800 which is an important price area to be taken by buyers to happen.
On the other hand, if buyers are unable to keep their Bitcoin price above the $ 19,500 price range for the next sessions, the disadvantages created by sellers will appear again and may even reach the $ 19,460 price range or even just below it.
The next big resistance for buyers to break is in the price range of $ 19,800, where above this the possibilities for advances above the price areas of $ 19,880 and $ 19,920 may occur.
A good close of the daily was made above the price area of U $ 19,420.
For today, a good close is above U $ 19,460 and U $ 19,550.
Follow buyers with good developments above the $ 19,600 price range and need to keep Bitcoin's price above the $ 19,550 price range for the next sessions to continue positive developments above $ 19,600.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin today on Braziliex remains above the price range of R $ 99,600 in the price area of R $ 100,000 and above the Ichimoku Cloud.
The price of Bitcoin on Braziliex managed to remain above the price range of R $ 98,200 and thus the consolidations and positive advances above this price area were made with good developments above it.
Now at the time of writing, the Bitcoin price on Braziliex is above the price range of R $ 100,000 where it will have to stay at least above the price area of R $ 99,200 for the continuations of consolidations and developments above it and thus the evolutions and consolidations above R $ 100,400 and R $ 100,600 may occur and go in search of R $ 101,200.
If the Bitcoin price on Braziliex returns below the R $ 98,400 price range, the possibilities of extending these disadvantages below the R $ 98,000 price range may occur and still extend below R $ 97,800.
Buyers are doing a great job on consolidations and developments with the Bitcoin price on Braziliex.
It will be extremely important for buyers to continue positive developments above the price range of R $ 101,200 for the next sessions, since, with this, consolidations will be above R $ 100,400.
If buyers fail to make advances and consolidations above the price range of R $ 101,200, the possibilities for entry into control of the situation made by sellers may occur where they may create disadvantages below the price area of R $ 100,000 and R $ 99,400 and may extending these disadvantages below the price range of R $ 98,800.
Buyers will have to bar sellers above the R $ 98,200 price range in order not to have serious problems below this price range.
Follows buyers as Bitcoin price on Braziliex in an attempt to evolve above the price range of R $ 100,000.
Resistances: R $ 100,269 // R $ 101,017 // R $ 101,686 // R $ 102,328.
Support: R $ 99,463 // R $ 98,778 // R $ 98,113 // R $ 97,191.
https://www.tradingview.com/x/OzVjbDH8
Graph: H4
Bitcoin's price remains well above EMAs and well above the Ichimoku Cloud.
The price of Bitcoin has now barely evolved above the $ 19,550 and $ 19,660 price areas where it is now at the time of writing above the $ 19,720 price area.
Bitcoin price could make a bearish correction; what would be healthy at this point, but; I would have to stay at least above the price area of U $ 19,550 in order not to lose this important price area and thus continue the consolidations and developments above it for the next sessions.
Buyers are priced at Bitcoin above the $ 19,720 price range and have even tested the $ 19,745 price range.
Buyers will now have to weaken these price areas for possible developments above it.
On the other hand, buyers need to keep the Bitcoin price above the price range of $ 19,550 and $ 19,500 because below this price area sellers will gain more strength and may even extend the disadvantages below $ 19,460.
The chart on H4 will follow the whole week to have a parameter of Bitcoin price evolution. Only resistance and support adjustments will be made.
Resistances: U $ 19,802 // U $ 19,989 // U $ 20,110 // U $ 20,265.
Supports: U $ 19,575 // U $ 19,366 // U $ 19,162 // U $ 18,935.
https://www.tradingview.com/x/ey6pwad
Graph: H1
Bitcoin price continues to evolve above the EMAs and above the Ichimoku Cloud.
Now at the time of writing the price of Bitcoin is above the price range of $ 19,700 where it reached a few minutes in the price area of $ 19,864, that is, with only $ 24 left to break ATH in the price area of $ 19,888. (remembering that this price varies from place to place I rely on Binance on TV).
It will be very important that the price of Bitcoin once again surpasses the historic top forcibly the price area of $ 19,888 to not have the possibility of a double top.
Double top the market does not forgive, and there may come a strong downward correction, where the Bitcoin price may correct below the price range of U $ 19,600 and U $ 19,500 and still being able to extend this correction below the price area of $ 19,460.
If the price of Bitcoin manages to surpass / break the historical top in the price range of U $ 19,888 the possibilities of positive advances above the U $ 19,900 and U $ 20,000 price areas may arise and even with the formed FOMO you can test the area price of $ 21,000.
Buyers entered with full force above the price range of $ 19,500 and $ 19,600.
It will be important now for buyers to keep the Bitcoin price above the price range of $ 19,550 and $ 19,660 for returns and consolidations above this price area and with that the positive developments above these price areas may occur again more healthily.
Buyers cannot put themselves at risk by now trying to evolve above the historical top without first returning and having a good consolidation.
If buyers are unable to move past the historic top and enter a double top in this price area, sellers will get in control of the situation and as a result the heavy disadvantages may appear below the price range of $ 19,600 and $ 19,500 and still being able to extend below the price range of $ 19,440.
Buyers will have to defend the price range of U $ 19,360, U $ 19,260 and especially U $ 19,000 in order not to have any losses under these price areas and thereby lose everything they have done since the last correction until it was until price area of $ 17,560.
Also very important for buyers to remain supported above the EMA 20 (yellow line) for the next sessions.
It follows buyers in an attempt to secure and consolidate the Bitcoin price above the $ 19,600 price range, which will be of utmost importance for the next sessions.
Resistances: U $ 19,802 // U $ 19,861 // U $ 19,900 // U $ 19,954.
Support: U $ 19,705 // U $ 19,642 // U $ 19,580 // U $ 19,517.
https://www.tradingview.com/x/ydB6Xdlg/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 87 and has a bullish bias.
https://www.tradingview.com/x/zB1sIuOv/
MACD: The MACD at the BTC chart time is at level 80 with a bullish bias.
https://www.tradingview.com/x/bCvue3QJ/
OBV: The OBV at the BTC chart's H1 time is at level 193 and has a downward bias.
https://www.tradingview.com/x/u4feM0sW/
Graph: M5
Bitcoin's price follows above the VWAP (wine line) and the Ichimoku Cloud, but below the BB's central line (red line).
The price of Bitcoin needs to have the necessary consolidations above the price areas of U $ 19,550 and U $ 19,600 for the possibilities of more consolidated advances above U $ 19,800 and with the possibilities of a test or even an advance above that of historical top may occur.
It is very important that buyers block an attempt by sellers to advance below the $ 19,550 price range.
Resistances: U $ 19,712 // U $ 19,768 // U $ 19,848 // U $ 19,913.
Support: U $ 19,672 // U $ 19,617 // U $ 19,549 // U $ 19,464.
https://www.tradingview.com/x/dWaVDFmQ/
BTC dominance 64.20%
“Blockchain is technology. Bitcoin is merely the first conventional expression of its potential. “Marc Kenigsberg
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nº254
