Bitcoin Price Evolution Analysis 20.01.2021

by CSM TRADER                                                                                                                

 nº277

 Price of BTC U$ 34,750.  

BTC price at Braziliex $ 188,500.

Price USD/BRL R$ 5.35.

Price EUR/BRL $ 6.49.

Price Gold 1g R$ 313.06.

Good morning to all readers.

The price of Bitcoin follows a downward trend, below the price areas of U$ 36,500 and U$ 35,000.

The price of Bitcoin once again did not succeed in exceeding the price area of $37,500 and had a test only in the price area of $37,850 and then a negative correction and another attempt to advance above the price area of $37,500 again this time unsuccessfully, and with that the price of Bitcoin entered a strong correction.

The price of Bitcoin at this time of writing is still in a negative correction below the price area of $35,000 and where it is in the price area of $34,704 and well below the EMA 100 (H1)

Only a good advance above the price area of U$ 35,600 and U$ 36,000 for the price of Bitcoin has the possibility to return to positive advances above the price area of U$ 36,320 and will still have to overcome the great resistance of U$ 36,666.

Remembering that all that was support now will come resistance.

The price of Bitcoin seems to spoil going in search of the first bottom formed below the price area of U$ 34,000, this bottom is in the price area of U$ 33,840.

If the Bitcoin price does not stop above $33,840 the negative corrections can continue to the next bottom that is in the $32,380 price area; a test in the $34,020 price area has already been done.

Only an advance above the AMS 5 and 20 (H1) would invalidate the continuity of negative corrections below $34,220 in the short term.

A daily closing above the price area of U$ 36,620 has been made.

For today a good daily closing would be above the price area of U$ 35,600, but the price of Bitcoin could make a daily closing below U$ 35,000.

The sellers keep total control of the situation below the $36,020 price area.

 Sellers can also take the Bitcoin price below the price area of $34,000 and $33,800 where they can go for $33,120 and $32,760.

The buyers once again were not successful in trying to go beyond the $37,800 price area and with this they gave a great chance for the sellers to get in control of the situation and thus start creating strong disadvantages below the $37,000, $36,000 and $35,000 price areas.

Now at the time of writing buyers are trying to keep the Bitcoin price above the $34,360 price area and may try to raise the Bitcoin price above the EMA 5 (H1) in the $35,200 price area; but with great difficulty if it still works out, because the sellers remain strong with their negative developments below $34,800.

Only a good advance above the $35,420 and $35,880 price area and with good consolidations above them, buyers can begin to gain strength and with that the possibilities of advance above the $36,000 price area can begin to emerge, otherwise sellers can try to search for price area much lower than $34,000.

A closing of the diary has been made in the $36,620 price area.

Only a good closing of the diary above $36,220 could invalidate the continuity of negative corrections below the price area of $35,220 and $34,800.

It follows buyers in trying to keep the Bitcoin price above the $34,350 price area.

Bitcoin TODAY at Braziliex: H1

Bitcoin price at Braziliex today follows a downward trend to below the R$ 195.622 price area.

 The Bitcoin price at Braziliex has failed to surpass the R$ 200,000 price area arriving at the R$ 199,990 price area; and with this negative corrections are appearing well below the R$ 195,000 and U$ 194,000 price area.

Now at the time of writing the price of Bitcoin at Braziliex follows in the price area of R$ 192,563 where it has already tested the price area of R$ 188,500.

It will be important that the price of Bitcoin at Braziliex continues its consolidations and positive evolutions above the price areas of R$ 193,220 and R$ 194,440 to try to get back above the price area of R$ 195,000.

In the case mentioned above, if the price of Bitcoin does not manage to return with its positive evolutions above the price area of the R$ 195.000 the disadvantages may give continuity and test again or even surpass the price area of the R$ 188.500 and extend even further below the R$ 187.600 and R$ 186.260.

The sellers at Braziliex remain in control of the situation below the price area of R$ 190,000.

Now at the time of writing the price of Bitcoin at Braziliex is again below the price area of R$ 190,000 or well into the price area of R$ 189,500.

The sellers will be able to go in search of the last fund formed which was now little in the price area of the $ 188.500 and still extend the disadvantages well below the $ 186.600.

Only a good advance and well consolidated for the buyers get to get back to the control of the situation above the price area of the $ 195.500 and $ 196.000.

It follows the buyers in an attempt to bar the sellers above the price area of the $ 188,500.

Resistance: R$ 190.078 // R$ 192.619 // R$ 194.656 // R$ 196.433. 

Supports: R$ 188,471 // R$ 186,805 // R$ 185,361 // R$ 184,027.

https://www.tradingview.com/x/J5Knk36R

Graph H4:

The price of Bitcoin follows well below the AMS and well below the Ichimoku Cloud.

The price of Bitcoin is still strongly below the price areas of $36,000, $35,000 and may also extend below $34,000 for the next sessions.

Only an advance above the $35,600 price area to possibly reverse is a negative correction that may still advance to the $33,880 price area and if it still extends below $33,600.

Sellers are still in control of the situation and with this are creating strong disadvantages below the $35,000 and $34,660 price area.

Only a strong advance of the buyers above the price area of $ 35,600 and $ 36,120 to try the return of positive developments and try to reverse the situation; or the return above the EMA 100 where they still have to enter into consolidations for the strong advances.

The situation of the buyers at this time, below the price area of $ 35,000, is very complicated.

The graph in H4 will follow all week to have a parameter of Bitcoin price evolution. Only the resistance and support adjustments will be made.

Resistances: U$ 34.532 // U$ 34.929 // U$ 35.201 // U$ 35.575.

Supports: U$ 34.010 // U$ 33.500 // U$ 33.013 // U$ 32.718.

https://www.tradingview.com/x/A6113IHX/

 Graph H1:

The price of Bitcoin follows below the MPE and well below the Ichimoku Cloud.

The price of Bitcoin now at writing time is in the price area of the

U$ 34.480.

It will be important that the price of Bitcoin is above the price area of U$ 34,000 to not have the continuity of negative corrections below the price area of U$ 33,880 and can still extend below the price area of U$ 33,660.

It would be very important for the price of Bitcoin an advance above the price area of $ 35,420 and $ 35,550 for the next sessions; but it seems that the possibilities decrease more and more for these evolutions.

The sellers are still in control of the situation and are wanting to gain more "ground" below the price area of U$ 34,120 and U$ 34,000.

Buyers have managed to bar sellers in an attempt to create more disadvantages below the $33,994 price area; but chances are that sellers will return and still extend these disadvantages below $33,994 and $33,660 could happen.

Follow the buyers in the fight with the sellers to try to keep the Bitcoin price above the $34,000 price area.

Resistance: U$ 34.873 // U$ 35.171 // U$ 35.444 // U$ 35.689.

Supports: U$ 34.322 // U$ 33.964 // U$ 33.578 // U$ 33.125.

https://www.tradingview.com/x/SRTa5w2k/

Technical indicators: H1

RSI: The RSI on the BTC H1 chart time is at level 8 and with a bearish bias.

https://www.tradingview.com/x/1XbEMQ06/

MACD: MACD on BTC's chart time is at the negative -473 level and bearish bias.

https://www.tradingview.com/x/LntJovJ9/

OBV: The OBV in BTC's H1 graphic time is at level 904 and low bias.

https://www.tradingview.com/x/ZqTNH1uB/

Graph M5:

The price of Bitcoin follows below BB's central line, below VWAP and still well below Ichimoku Cloud.

Only an advance above VWAP for the consolidation attempts and positive evolutions above the U$ 35,600 price area.

Sellers continue to force further downsides below the price areas of $34,420 and $34,220.

Resistance: U$ 34.621 // U$ 34.752 // U$ 34.879 // U$ 34.997.

Supports: U$ 34.428 // U$ 34.297 // U$ 34.131 // U$ 33.969.

https://www.tradingview.com/x/h3Rg29op/

BTC dominance: 64.77%

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nº277