Bitcoin Price Evolution Analysis 21.01.2021

by CSM TRADER                                                                                                                

 nº278

 Price of BTC U$ 32,710.  

BTC price at Braziliex U$ 177,030.

Price USD/BRL R$ 5.29.

Price EUR/BRL $ 6.42.

Price Gold 1g R$ 318.28.

Good morning to all readers.

The price of Bitcoin is on a downward trend, below U$ 33,220.

The price of Bitcoin has not been able to continue its positive advances above the price area of U$ 35,675 or above the EMA 100 (H1).

After Bitcoin's price tried for 2 times to exceed the $35,675 price area where it failed again; the Bitcoin's price went into a heavy negative correction again and broke several price areas at $35,000, $34,000, $33,000 and $32,600.

Now at the time of writing the Bitcoin price continues its negative correction in the price area of $32,300.

A pullback will be needed so that the Bitcoin price does not go further down the price area of $30,800 and $30,660 in the short term.

In the case mentioned above, if the Bitcoin price does not return with its consolidations and attempts of positive evolutions above the price area of $32,120 and $32,550, the probabilities of further negative corrections below the price areas of $32,000, $31,660 and $31,220 may arise and still extend below the $31,000. A search of the $28,000 price area may be underway.

A closing of the diary has been made above the $35,550 price area.

For today a closing of the diary above the price area of U$ 34,600 would be of good size.

The sellers remain in total control of the situation below the price area of U$ 35,550.

Sellers are in full control of the situation below the $33,000 price area and still want to create more disadvantages below the $32,000 price area.

Now at the time of writing sellers are pricing Bitcoin in the $32,550 price area.

It will be necessary for buyers to try to bar vendors above the $32,000 and $31,880 price area in order to no longer have disadvantages created by vendors below these price areas, and can still extend below the $31,660 and $31,220 price areas.

Only a strong advance of the buyers above the price area of U$ 34,660 for attempts to get back with the Bitcoin price above the price area of U$ 35,000 and still have to make good consolidations for the possible evolutions above the strong resistance of U$ 35,500.

It was made a closing of the journal above the price area of U$ 35,550.

For today it would be important for the buyers to try a closing of the daily above the price area of U$ 34,220 or U$ 34,660.

Only a diary closure above the $35,800 price area for the possible possibilities of reversing is the situation of the buyers and follow up the $36,000 price area.

It follows the buyers in the attempts to return with the Bitcoin price above the $33,000 price area.

Bitcoin TODAY at Braziliex: H1

Bitcoin price at Braziliex today follows me down trend below the R$ 180.000 price area.

As written in my analysis of the previous day; if the price of Bitcoin could not exceed the R$ 195,000 price area the possibilities of negative advances could arise; and this is what happened.

The price of Bitcoin at Braziliex did not achieve the necessary advances over the price area of R$ 195,000 and came the negative correction below the price areas of R$ 190,000 and R$ 180,000.

Now at the time of writing, the price of Bitcoin at Braziliex follows the price area of U$ 178,000, where a test was already made on the price area of U$ 173,999.

The price of Bitcoin at Braziliex will have to go back above the price area of $ 184,220 for the next sessions to maybe have the possibilities of a return above the price area of $ 188,000 and try to go back above $ 190,000.

Only a good advance and with strong consolidations above the price area of R$ 186.600 and R$ 190.000 for the price of Bitcoin in Braziliex leave a big area of more losses which is to stay below the price area of R$ 182.600.

The sellers remain in control of the situation staying with the price of Bitcoin below the price area of R$ 184,600.

It will be extremely important for buyers at Braziliex to take control of the situation to try to raise the price of Bitcoin above the price area of R$ 186,000 and R$ 188,000.

In the case mentioned above, if the buyers are not able to advance above the price areas of R$ 186,000 and R$ 188,000 for the next sessions; the continuity of negative evolutions of the sellers may continue to happen, and still with the possibilities of them going below the price area of R$ 175,000 and R$ 174,440.

It follows the buyers in an attempt to bar the sellers above the price area of R$ 175.000.

Resistances: R$ 177,680 // R$ 179,891// R$ 182,332 // R$ 184,162. 

Supports: R$ 176,652 // R$ 174,211 // R$ 172,000 // R$ 170,430.

https://www.tradingview.com/x/1hBeCd8N

Graph H4:

The price of Bitcoin follows below EMAs and well below Ichimoku Cloud.

The price of Bitcoin follows in strong correction below the price area of U$ 33,800.

The price of Bitcoin can still test the price area of U$ 30,436 and also extend to the price area of U$ 30,000, for the next sessions.

Only an advance back up to $34,000 and $34,600 to revert are negative corrections for the next sessions and still give the continuity of consolidations and evolutions above $35,000.

Sellers have come strong in control of the situation after buyers have failed to overcome resistance in the $35,800 price area.

Now at the time of writing, the sellers continue with their disadvantages below the $ 32,800 price area, where they can still extend these to further below $ 32,000 where they may want to test again the $ 31,450 price area and still be able to give continuity to negative advances to the $ 30,500 price area.

It follows the sellers in total control of the situation and wanting to give the continuity of negative evolutions below the price area of U$ 32.000.

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

Resistances: U$ 32,771 // U$ 33,449 // U$ 34,005 // U$ 34,602.

Supports: U$ 32.011 // U$ 31.577 // U$ 31.089 // U$ 30.492.

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

Graph H1:

The price of Bitcoin follows below the EMAs, below the Ichimoku Cloud and still below the BB lower line.

The price of Bitcoin follows in negative correction below the price area of U$ 33,000 and U$ 32,800.

Now at the time of writing the price of Bitcoin follows in the price area of U$ 32,520.

The probability of continuing negative consolidations below the price area of $32,000 is still high, if the Bitcoin price continues negative consolidations below the price area of $33,000 and $33,220.

Add a strong advance above the price areas of $33,600 and $34,220 to the Bitcoin price and perhaps turn its consolidations and positive evolutions above the price area of $34,550 and $34,800.

The buyers continue in the attempt to raise the price of Bitcoin up to the price area of $33,000, which would be very important for the next sessions.

On the other hand, the sellers are still strong below $33,000 and are trying to create more disadvantages below the $32,220 and $32,000 price area, where once conquered is the $32,000 price area the possibilities of advancing to the $31,800 price area may arise and still extend to the $31,500 and $31,220 price area.

The sellers have their eye on the $28,000 price area.

Follow the buyers in the fight with the sellers to try to bar the sellers above the $32,220 price area.

Resistance: U$ 33.060 // U$ 33.520 // U$ 33.997 // U$ 34.490.

Supports: U$ 32.320 // U$ 31.810 // U$ 31.235 // U$ 30.857.

https://www.tradingview.com/x/vJ1cE6Ob/

Technical indicators: H1

RSI: The RSI on the BTC H1 chart time is at level 27 and stabilized.

https://www.tradingview.com/x/Dv1QDGgR/

MACD: MACD at BTC's chart time is at the negative -614 level and bearish bias.

https://www.tradingview.com/x/r789Jxfi/

OBV: The OBV in BTC's H1 graphical time is at level 882 and low bias.

https://www.tradingview.com/x/F4MMGCHJ/

M5 Graph:

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

Only an advance upwards of $33,000 to reverse the falls and return the positive evolutions to the price area of $33,000.

Sellers are continuing negative developments below the $32,220 price area and possibly towards $31,660.

Resistance: U$ 32.615// U$ 32.990 // U$ 33.271 // U$ 33.598.

Supports: U$ 32.072 // U$ 31.669 // U$ 31.314 // U$ 31.061.

https://www.tradingview.com/x/NlBVj6Ja/

Dominance = 63.92%

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nº278