Bitcoin Price Evolution Analysis 17.11.2020
by CSM TRADER
nº233
BTC price U $ 16,730.
BTC price on Braziliex R $ 90,600.
Price USD / BRL R $ 5.41.
Price EUR / BRL R $ 6.43.
Gold Price 1g R $ 329.23.
Good morning to all readers.
Bitcoin price follows an upward trend as long as it is above the price range of $ 16,500 and $ 16,400.
The price of Bitcoin made yet another monthly high reaching the price range of $ 16,886, and with that being very little missing for the 2nd highest increase which is in the price area of $ 17,176.
The price of Bitcoin broke several resistances along the way in this strong rise that had yesterday even the resistance of the $ 16,500, but weakened in exceeding the price area of the $ 16,900.
It will be extremely important for the Bitcoin price to continue with its positive developments, staying above the price range of U $ 16,350 and U $ 16,500 so as not to miss all the evolution made so far.
Necessary for the price of Bitcoin to again exceed the price area of U $ 16,750 and U $ 16,850 to continue positive developments and with this the possibility of an advance above the U $ 17,000 price area will not be ruled out.
If the price of Bitcoin fails to exceed the price area of $ 16,750 and $ 16,800 a stronger negative correction could happen and with that the price of Bitcoin could visit the price area of $ 16,550 where it should remain above the U $ 16,500 for not having major disadvantages below this price range.
Below $ 16,500 the Bitcoin price could fall below the $ 16,440 and $ 16,380 price areas.
A daily close was made above the price area of U $ 16,710.
For today, a close above the price area of US $ 16,600 will be of a good size so as not to lose the consolidations and advances made so far above US $ 16,500. The ideal would be above the price area of U $ 16,780
Buyers get a good breakthrough with the Bitcoin price above the $ 16,500 and $ 16,666 price range.
A good breakthrough has been made above the $ 16,500 price area and with that buyers are able to take the Bitcoin price up to the $ 16,886 price area where they went into exhaustion and sellers entered the play and are extending these disadvantages that are reaching the price area of U $ 16,630, now at the time of writing.
It will be of utmost importance for buyers to return to full control of the situation in the short term, in order not to let sellers manage to lower the price of Bitcoin below EMA 20 (H1) as below this the disadvantages may extend to the support of U $ 16,500 and as a result, sellers will be able to gain more strength and press for more disadvantages below the $ 16,460 price range.
If buyers achieve good consolidation and progress above the $ 16,750 and $ 16,850 price range, the odds of advancing above the $ 17,000 price range could happen in the short term.
A good close was made by buyers above the $ 16,700 price point.
For today, a good closing will be above the price area of US $ 16,600 to continue consolidations.
It follows buyers in an attempt to regain control of the situation above the $ 16,630 price range, and they need to continue developments above the $ 16,750 resistance to move out of a risky area.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin on Braziliex has once again made the greatest historical high reaching the price range of R $ 91,680.
Bitcoin price on Braziliex follows an upward trend as long as it is above the price range of R $ 87,500.
It will be necessary for the Bitcoin price on Braziliex to stay in the short term, above the price area of R $ 88,600 in order to continue consolidations and with that advances above the price areas of R $ 89,600 and R $ 90,000 may continue to to occur.
Buyers are making a good evolution with the Bitcoin price on Braziliex above the price range of R $ 89,000 and R $ 90,000.
It will be of utmost importance for buyers to evolve above the R $ 92,000 price area in order to continue consolidations above the R $ 90,000 price area and thus be able to increasingly advance the Bitcoin price and make new historical highs .
On the other hand, if buyers fail to evolve the Bitcoin price on Braziliex above the R $ 92,000 price range, they may be exhausted by attempts and with that the sellers can get in control of the situation, and start creating disadvantages that could go below the price range of R $ 90,000 and R $ 89,600 and still extend below the R $ 89,000 where buyers will have to try to stop sellers above the price area of R $ 88,400 and R $ 88,000 because below this area of price the disadvantages may be greater.
It follows buyers in an attempt to evolve above the R $ 91,000 price range.
Resistances: R $ 91,403 // R $ 91,684 // R $ 91,991 // R $ 92,326.
Support: R $ 90,988 // R $ 90,580 // R $ 90,193 // R $ 89,799.
RSI: It is at level 28 and with an upward bias.
https://www.tradingview.com/x/EqN3ThZO
Graph: H4
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
Bitcoin's price is making major developments and consolidations above the $ 16,500 and $ 16,600 price range.
It will be necessary for the Bitcoin price to continue with these good developments staying above the price range of $ 16,500 or above EMA 5, in the short term so as not to fall into disadvantages below $ 16,500.
Buyers have regained control of the situation and are therefore attempting to evolve Bitcoin's price above the $ 16,750 price range.
It will be of utmost importance this evolution above U $ 16,750 for evolutions and attempt to overcome the price area of U $ 17,850.
The chart on H4 had followed the whole week to have a parameter of Bitcoin price evolution. Only resistance and support adjustments will be made.
Resistances: U $ 16,790 // U $ 16,881 // U $ 16,978 // U $ 17,100.
Support: U $ 16,632 // U $ 16,536 // U $ 16,420 // U $ 16,277.
https://www.tradingview.com/x/2yy5J43c/
Graph: H1
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
Bitcoin's price has evolved well after a test in the $ 16,536 price range in past sessions.
Bitcoin's price now follows well above the EMA 50 and 100 where it is expected to remain to continue consolidations and developments above the $ 16,700 price range.
It will be very important for the price of Bitcoin to advance to the next sessions above the price area of USD 16,700 and USD 16,750.
A solid advance above the $ 16,860 price range may open up the advantages for a positive advance above the $ 17,000 price range.
Buyers will have to keep the Bitcoin price above the $ 16,500 price range and thus consolidations and developments above $ 16,600 and $ 16,700 will occur.
It will be important for buyers to advance above the $ 16,750 price point for the next session to continue positive advances above it.
On the other hand, if buyers are unable to make a solid advance with the Bitcoin price above the price range of $ 16,750 and $ 16,860, sellers will be able to take control of the situation and thereby create disadvantages that could return to the price area. of $ 16,600 and $ 16,550 where buyers will have to bar sellers so that these disadvantages do not extend below the $ 16,480 and $ 16,350 price range.
It follows buyers in an attempt to evolve above the $ 16,740 price range.
Resistances: U $ 16,776 // U $ 16,869 // U $ 16,968 // U $ 17,084.
Support: U $ 16,717 // U $ 16,636 // U $ 16,526 // U $ 16,402.
Bitcoin price remains above Fibo 0.236% in the price area of $ 16,616 compared to below $ 15,772 and is expected to continue its consolidations above Fibo 0.236% to continue positive developments; because below Fibo 0.382% in the price area of 16,454 the disadvantages may be greater.
It will be of utmost importance for buyers to advance above the price point of U $ 16,750 and U $ 16,800 for the next sessions, or the disadvantages created by the sellers may return to appear below the U $ 16,600 price area.
Buyers are gearing up for possible developments above the $ 17,000 price range for the next few sessions.
https://www.tradingview.com/x/XWqZh1Sm/
Technical indicators: H1
RSI: The RSI at the BTC chart time H1 is at level 25 and has a bullish bias.
https://www.tradingview.com/x/6gJH6XYA/
MACD: The MACD at the BTC chart time is at level 107 and with a slight upward bias.
https://www.tradingview.com/x/3USRM1SW/
OBV: The OBV at the BTC H1 chart time is at level 195 and has a bullish bias.
https://www.tradingview.com/x/P1P6viR7/
Graph: M5
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
The price of Bitcoin has just surpassed the price range of $ 16,750 and $ 16,880 and as a result the price of Bitcoin is getting closer and closer to the 2nd rise formed in the price area of $ 17,176 where it should exceed the same for a new formed top and with that negative corrections can appear and very strong.
It follows buyers in full control of the situation and advancing Bitcoin's price above the $ 16,900 price range.
Resistances: U $ 16,938 // U $ 16,997 // U $ 17,036 // U $ 17,095.
Support: U $ 16,891 // U $ 16,820 // U $ 16,763 // U $ 16,705.
https://www.tradingview.com/x/j3ivyGaU/
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nº232
