Bitcoin Price Evolution Analysis 19.11.2020

by CSM TRADER

 nº235

 BTC price U $ 17,603.

BTC price on Braziliex R $ 94,501.

Price USD / BRL R $ 5.36.

Price EUR / BRL R $ 6.34.

Gold Price 1g R $ 320.18.

Good morning to all readers.

Bitcoin price follows a downward trend; however, it is still above the price area of ​​U $ 17,200 or even above the EMA 100 (H1), where it should remain above it to avoid serious losses below that.

Bitcoin's price after testing the $ 18,480 area began its correction below $ 18,000.

One more attempt was made to evolve above the $ 18,050 price range, but it failed to do so and Bitcoin's price follows its downward correction and now at the time of writing it is in the $ 17,435 price range.

It will be necessary for the Bitcoin price to continue above the $ 17,080 and $ 17,200 price range so as not to start a stronger correction below the $ 16,800 price area, because below that, the chances of a negative advance for the price range of U $ 16,500 may appear or even go below.

If the Bitcoin price manages to stay above the EMA 100 (H1) or above the $ 17,100 price area for the next sessions, advances back above the $ 17,500 and $ 17,600 price areas may occur and with that attempts to advance above $ 18,000 will not be ruled out.

A daily close was made above the $ 17,777 price range, but even so the Bitcoin price found no strength in an evolution above the $ 18,000 price area again.

For today, a close above the price range of $ 17,500 will be of extreme importance for the Bitcoin price to continue with consolidations and with that, developments above $ 17,680 may arise and extend above $ 17,800.

Bitcoin price needs to stay above $ 17,000 to continue bullish.

Buyers did not achieve a consolidated advance above the price range of US $ 18,050 and with that, the sellers got in control of the situation and are up to this moment of writing with negative developments below the price area of ​​US $ 17,480.

It will be extremely important for buyers to stop sellers in the price range of $ 17,200 and $ 17,120 in order to have no further disadvantages below that.

If sellers are able to advance below the $ 17,200 and $ 17,100 price areas, the disadvantages may extend below support in the $ 17,000 price area and thus still extend below the $ 16,900 where sellers can win forces and continue this negative advance up to the $ 16,500 price area; below that the $ 16,200 price range can be tested.

Closing of the diary was made by buyers above the $ 17,777 price point.

For today it will be extremely important to close above the price area of ​​U $ 17,500 or above this price area for the return of consolidations and developments above U $ 17,666.

It follows buyers in the fray to try to stop sellers in the price range of $ 17,300 and $ 17,200.

Bitcoin TODAY on Braziliex: H1

The price of Bitcoin on Braziliex made a new historic top reaching the price range of R $ 98,465.

Now at the time of writing, the Bitcoin price on Braziliex continues to correct in the price area of ​​R $ 94,999.

It will be important for the Bitcoin price on Braziliex to stay above the price range of R $ 92,200 in order not to have heavier disadvantages below this price area and thereby lose good developments and consolidations above the price area of ​​R $ 90,000.

Buyers remain in control of the situation with the Bitcoin price on Braziliex above the price range of R $ 93,000; but they need to be careful with sellers below the R $ 93,400 price range so as not to let sellers get in control of the situation and with that they may create disadvantages below the R $ 92,600 price range and may extend below R $ 91,800.

Buyers need to go back to developments and consolidations with the Bitcoin price on Braziliex above the R $ 95,000 price range and as a result positive developments above the R $ 96,400 price range may arise again and go in search above the price of R $ 97,200 and R $ 97,800.

It follows buyers in an attempt to evolve the Bitcoin price above the R $ 95,000 price range, but taking care to keep Bitcoin's price above the R $ 93,200 price range so as not to start having serious disadvantages created by the sellers below this price area.

Resistances: R $ 95,067 // R $ 96,027 // R $ 97,393 // R $ 98,574.

Support: R $ 94,297 // R $ 93,173 // R $ 92,445 // R $ 91,353.

RSI: It is at level 06 and with a small upward bias.

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

Graph: H1

Bitcoin's price remains below EMAs and within the Ichimoku Cloud.

It will be extremely important for the Bitcoin price to stay above the EMA 100, because below it the Bitcoin price may suffer disadvantages that may reach up to the price range of U $ 17,200 and with that, they can extend below U $ 17,200 and U $ 17,160 where the odds of advancing to support of $ 17,000 or below may occur.

The price of Bitcoin follows within the triangle where it should come out over the top line of this triangle for the return of the developments above the price area of ​​U $ 17,880 and with that the possibilities of an advance above the price area of ​​U $ 18,000 and $ 18,200 may appear.

Only a daily close above the $ 17,500 price range can reverse the situation now; because the price of Bitcoin is at this point in the writing struggling to stay above the price range of U $ 17,580 where it will still have to surpass the EMAs 20 and about going above the Ichimoku Cloud and still above the triangle for positive developments above $ 17,700 occur.

Buyers are struggling not to let the Bitcoin price go below the triangle because below the triangle in the $ 17,300 price area we have the EMA 100 that will be able to support sellers and so buyers will be able to regain control of the situation because below EMA 100 the disadvantages created by the sellers may be greater, and may extend up to the price area of ​​U $ 17,080 or even below this price area.

It follows buyers in an attempt to evolve Bitcoin's price above the $ 17,600 price range.

Resistances: U $ 17,720 // U $ 17,820 // U $ 17,935 // U $ 18,049.

Support: U $ 17,579 // U $ 17,457 // U $ 17,375 // U $ 17,266.

Bitcoin's price remains just below the 0.5% Fibo in the price area of ​​$ 17,511 compared to below the $ 16,538 and is expected to continue its consolidations above Fibo 0.382% to continue positive developments above the price area the $ 17,800; because below Fibo 0.5% the disadvantages may reach or even exceed the price area of ​​U $ 17,200.

It will be important for the Bitcoin price to advance above Fibo 0.382% for positive developments to continue above the $ 17,700 price range.

It will be extremely important for buyers to advance above the price range of $ 17,800 and $ 17,900 for the next sessions, or the disadvantages created by sellers may again appear below the price area of ​​$ 17,500.

Buyers need to defend the $ 17,200 price range.

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

Technical indicators: H1

RSI: The RSI at the BTC chart's H1 time is at level 31 and has a bullish bias.

https://www.tradingview.com/x/IoOye9zY/

MACD: The MACD at the BTC chart time is at level 30 and has a downward bias.

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

OBV: The OBV at the BTC H1 chart time is at level 231 and has a bullish bias.

https://www.tradingview.com/x/j16qr1Jr/

Graph: H5

Bitcoin's price remains below EMA, below VWAP and within the Ichimoku Cloud.

It will be of utmost importance for the Bitcoin price to return above the EMA 100 and above the Ichimoku Cloud in the short term for developments above the $ 17,700 price area to reappear.

Buyers are having difficulties in evolving the price of Bitcoin above the EMA 100 where above it the evolutions may occur and with that the buyers will be able to leave a risk area to start new consolidations and evolutions above the price area of ​​U $ 17,740 .

Below the EMA 100, buyers are subject to more disadvantages created by sellers and may still extend these disadvantages below the price areas of $ 17,600 and $ 17,550.

Resistances: U $ 17,712 // U $ 17,761 // U $ 17,812 // U $ 17,872.

Support: U $ 17,644 // U $ 17,593 // U $ 17,351 // U $ 17,475.

https://www.tradingview.com/x/UaYDSkH8/

BTC dominance 68.27%

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nº235