Bitcoin Price Evolution Analysis 17.12.2020
by CSM TRADER
nº255
BTC price U $ 22,830.
BTC price on Braziliex R $ 108,818.
Price USD / BRL R $ 5.08.
Price EUR / BRL R $ 6.21.
Gold Price 1g R $ 304.78.
Good morning to all readers.
Bitcoin price follows an upward trend above the $ 21,800 price range.
Just now, the price of Bitcoin has made its highest historical price reaching the price range of $ 23,800; so far at the time of writing.
Several resistances were broken above the $ 19,800, $ 20,400 and above $ 22,500 price areas.
Now at the time of writing the price of Bitcoin is in the price range of $ 22,690.
For the Bitcoin price to continue to rise above the $ 23,800 price range it will be necessary for the price to be above the $ 21,700 and $ 21,500 price range or above the EMA 20; for the next sessions.
If the Bitcoin price gives continuity to positive advances back to attempts above the price point of the historic top at $ 23,800, the possibilities to test the $ 24,400 price area are underway.
If the Bitcoin price has a correction ahead of it before attempting to overtake the historic top in the $ 23,800 price range, it will have to remain above the $ 21,000 price range in order to have no further disadvantages below this price area and back down from $ 20,800.
A historic close has been made to the $ 21,326 price range.
For today, a good closing of the daily would be above the price area of U $ 22,000 for the continuations of consolidations and developments above it.
Buyers remain in full control of the situation with the Bitcoin price above the $ 22,000 and $ 21,500 price areas.
It will be important for buyers to continue positive developments above the price range of $ 22,600 and $ 22,700 so that they do not let sellers start to get into control of the situation and the disadvantages may start to appear below the price area of the $ 22,000.
Once sellers are able to gain control of the situation, they can gain more strength and extend these disadvantages below the $ 21,800 price range.
Closing of the historical diary by buyers was made in the area of U $ 21,326.
For today, buyers need to close above the $ 21,880 price range to continue consolidations and developments above this price range.
It follows buyers in an attempt to evolve Bitcoin's price above the $ 22,500 price range.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin today on Braziliex remains well above the price range of R $ 105,000.
The price of Bitcoin on Braziliex made a new historic top reaching the price range of R $ 115,000.
Now at the time of writing the Bitcoin price on Braziliex is in the price range of R $ 112,020.
It will be important for the continuation of positive advances above the price range of R $ 110,000 for the next sessions.
If the Bitcoin price starts a downward correction below the R $ 108,000 price range, the negative disadvantages could extend below the R $ 107,000 and R $ 105,000 price range.
Buyers remain in control of the situation with the Bitcoin price on Braziliex above the price range of R $ 106,000.
Buyers on Braziliex need to continue consolidations and developments above the R $ 108,200 and R $ 110,000 price range for a possible attempt at yet another test above the R $ 115,000 price range, as below this price range the sellers may begin to gain strength and thereby extend these disadvantages below the price range of R $ 108,000 and R $ 106,000.
It follows buyers in an attempt to evolve the Bitcoin price on Braziliex above the price range of R $ 113,000.
Resistances: R $ 114,127 // R $ 115,161 // R $ 116,634 // R $ 117,874.
Support: R $ 112,001 // R $ 110,574 // R $ 109,139 // R $ 107,756.
https://www.tradingview.com/x/gCgKDkzn
Graph: H4
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
The price of Bitcoin continues to consolidate above the $ 22,500 price range and thus may have the possibility of a return to positive advances above the $ 23,000 price range for the next sessions.
A well-formed and well-consolidated advance above the $ 23,200 price range could open up advantages for a new attempt to break the historic top of Bitcoin, in the $ 23,800 price area and further extend these positive advantages above the price area of the $ 24,000.
Only a drop below the price range of $ 22,200 for the disadvantages below it start to appear stronger, and with that it can extend below the $ 22,000 and $ 21,800.
Buyers keep Bitcoin's price above $ 22,500 and it looks like they are looking for more positive advances upwards of the $ 23,000 price range.
It will be important for buyers to keep Bitcoin's price above the $ 22,500 and $ 22,200 price range in order not to start experiencing the disadvantages created by sellers below the $ 22,000 price area.
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 $ 22,803 // U $ 23,147 // U $ 23,450 // U $ 23,800.
Support: U $ 22,494 // U $ 22,146 // U $ 21,711 // U $ 21,385.
https://www.tradingview.com/x/DgFig31z/
Graph: H1
Bitcoin's price remains above the EMAs 100, 50 and 20 and above the Ichimoku Cloud.
The price of Bitcoin continues to push EMA 5 (green line) and if it goes down, the disadvantages could extend below the price range of $ 21,500.
In the case mentioned above, the price of Bitcoin still needs to stay above the VWAP (wine line) in order not to have the possible disadvantages below the price areas of $ 22,300 and $ 22,240.
Important for the price of Bitcoin are the continuities of consolidations and positive developments above the price areas of $ 22,500 and $ 22,660 for the next sessions.
Buyers are still in control of the situation, but are struggling to make positive advances above the $ 22,740 price range.
It will be important for buyers to make this advance above U $ 22,700 and U $ 22,780 to get out of a risk area that is to stick with the price of Bitcoin pasted on EMA 5 or close to the U $ 22,500 price area in the short.
On the other hand, if buyers fail to make these advances above U $ 22,500 and U $ 22,600 the disadvantages by sellers may start to appear and with that they may extend below U $ 22,460 and U $ 22,400.
It follows buyers in an attempt to evolve above the $ 22,600 price range and trying to safeguard the $ 22,500 price range.
Resistances: U $ 22,799 // U $ 22,991 // U $ 23,279 // U $ 23,493.
Support: U $ 22,512 // U $ 22,246 // U $ 22,010 // U $ 21,752.
https://www.tradingview.com/x/egDpCqo8/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 6 and has a downward bias.
https://www.tradingview.com/x/AnSoiUoM/
MACD: The MACD at the BTC chart time is at level 695 and stabilized.
https://www.tradingview.com/x/NYw7SnVc/
OBV: The OBV in the BTC H1 chart time is at level 242 and has a bullish bias.
https://www.tradingview.com/x/xDTQ9UCv/
Graph: M5
Bitcoin's price follows above BB's central line and above VWAP, but below Ichimoku Cloud.
The price of Bitcoin needs to go above the Ichimoku Cloud to continue positive developments above it so as to try to exceed the $ 22,900 price range.
Buyers want a breakthrough above the $ 23,000 price range in the short term.
Resistances: U $ 22,861 // U $ 22,936 // U $ 23,046 // U $ 23,139.
Support: U $ 22,719 // U $ 22,630 // U $ 22,502 // U $ 22,383.
https://www.tradingview.com/x/H4xfDb3a/
BTC dominance 65.08%
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nº255
