**Bitcoin Price Evolution Analysis 22.01.2021**

**by CSM TRADER **

nº279

Price of BTC U$ 31,460.

BTC price at Braziliex U$ 171,520.

Price USD/BRL R$ 5.35.

Price EUR/BRL $ 6.51.

Price Gold 1g R$ 318.51.

Good morning to all readers.

The Bitcoin price is in an upward trend above the U$ 31,120 price area.

The price of Bitcoin in about 3 to 4 days had a correction of $ 9,000.

The Bitcoin price a few days ago reached the price area of $ 37,850 and failed to give continuity to positive evolutions above this price area and started a big correction that was breaking several important supports along the way; and even testing the price area of $ 28,846.

Now at the time of writing the price of Bitcoin follows above the price area of $ 31,000; it follows in the price area of $ 31,600.

The Bitcoin price needs a continuity of positive evolutions above the resistances that were once supported in the price areas of U$ 32.000 and U$ 32.800; which are price areas of strong sales interest.

It will still be necessary for the Bitcoin price to advance above the price area of U$ 31,800 where it already seems that the Bitcoin price is facing a strong resistance above this price area.

In the case mentioned above, if the price of Bitcoin achieves this advance above $31,800 and $32,120 for the next sessions, it will be necessary good consolidation between the price areas of $32,120 and $32,500 for a solid and precise advance, above the strong resistance of $32,800 and with that the possibilities of advances to the next price level of $33,000 and $33,220 may arise.

Only an advance above $33,660 can open the doors for new consolidations above the price areas of $34,000 and $34,680, or above the EMA 50 (H1).

On the other hand, if the Bitcoin price is exhausted by attempts to exceed the price areas of $31,800, $32,000 and $32,500 the disadvantages may begin to appear and with that the possibilities of a low return of the price areas of $31,120 and $31,000 may arise, and still extend below the price areas of $30,660 and $30,000.

If the Bitcoin price makes another negative correction below the $30,000 price area, you can test the $28,846 price area again and still extend these negative corrections below the $28,220 and $27,880 price areas.

It was made a closing of the journal above the price area of U$ 30,650.

For today a good closing would be above U$ 30,500.

The sellers remain in control of the situation below the central line of the Bollinger Bands or below U$ 31,190; now at the time of writing.

Buyers are facing great difficulties in moving up the $31,800 price area and seems to be weakening in front of sellers.

Only a good advance above the $32,120 price area for buyers to start breathing a little more relieved; but they will still have to consolidate and evolve the Bitcoin price above the $32,320 and $32,660 price area to start exiting a risk area which is to stay with the Bitcoin price below $32,500.

Sellers are in the mood to negatively evolve the Bitcoin price below the $31,000 and $30,660 price area again for the next sessions; and to go looking for a break in the $28,500 price area.

It follows the sellers in controlling the situation in the $31,177 price area and wanting to force a break down to the $31,000 price area where the buyers will have to try to bar the sellers in order not to have the heavy disadvantages below the $30,880 and $30,660 price areas.

Follow the buyers in the attempt to reverse you are handicapped above the $31,440 and $31,800 price areas.

**Bitcoin TODAY at Braziliex: H1**

The price of Bitcoin today at Braziliex follows above the price area of R$ 158,000, where there was already a test in this price area.

The price of Bitcoin at Braziliex to some past sessions, failed once again to give continuity of positive evolutions above the price areas of R$ 178,000, and with this the negative corrections gave continuity below the price areas of R$ 170,000 and making a test in the price area of R$ 158,000.

Now at the time of writing the price of Bitcoin follows above the price area of the $ 168,200 well in the price area of the $ 171,519.

The price of Bitcoin at Braziliex seems to be facing difficulties for positive evolutions upwards from the price areas of R$ 172,000 and R$ 175,000.

It will be of extreme importance for the price of Bitcoin the advances above the price areas of R$ 172,000 and R$ 175,000 to return to new consolidations and evolutions above them and with this the probability and positive evolutions above the price areas of R$ 178,000 and R$ 180,000 may arise.

If the Bitcoin price at Braziliex gives the continuity of attempts and enters in exhaustion above the price area of R$ 175.000 the possibilities of a negative advance below the price area of R$ 166.200 and R$ 165.600 may appear again and still extend below the price area of R$ 162.000 and R$ 161.760.

The sellers remain in control of the situation with the price of Bitcoin in Braziliex below the price area of $ 180,000.

Only a strong and well consolidated positive advance of the buyers above the price area of the R$ 182,000 and R$ 184,220 to get back to full control of the situation and still evolve the price of Bitcoin at Braziliex above the R$ 186,666.

It follows the buyers in an attempt to bar the sellers above the price area of the R$ 166.288.

Resistances: R$ 171.631 // R$ 174.104 // R$ 176.210 // R$ 179.049.

Supports: R$ 168.722 // R$ 165.608 // R$ 163.685 // R$ 161.121.

https://www.tradingview.com/x/arxu9wXA

**Graph H4:**

The price of Bitcoin follows below the EMAs and below the Ichimoku Cloud, but it follows above the VWAP (purple line).

For the continuity of positive evolutions for the next sessions, the price of Bitcoin should exceed the EMA 5 (green line) and still stay above the central line of BB (red line) so that the new consolidations happen above them or above the price area of U$ 32,220 and U$ 32,360.

The buyers with a lot of difficulty still, seem that they are wanting an advance above the price area of U$ 32.000.

Now at the time of writing the buyers are with the price of Bitcoin in the price area of $ 31,880.

It will be necessary for buyers to advance above the price area of $32,120 for possible attempts to advance above $32,220 and $32,360.

If buyers fail again to advance above the $32,000 price area, sellers will be able to take advantage of the situation and re-create the downsides to the $31,880 and $31,660 price areas.

It follows the buyers once again in trying to advance above the $32,000 price area.

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$ 32.046 // U$ 32.863 // U$ 33.549 // U$ 34.148.

Supports: U$ 31.608 // U$ 30.952 // U$ 30.310 // U$ 29.755.

https://www.tradingview.com/x/9Ssvkc5w/

**Graph H1:**

The price of Bitcoin follows below EMAs 50 and 100 and below Ichimoku Cloud; but above VWAP and above EMAs 5 and 20.

It will be important that the price of Bitcoin remains supported by the EMA 20 for the next session for the possible evolutions above the price areas of $32,000 and $32,120.

Only a good advance above the EMA 50 to start taking the Bitcoin price from a risk area that is below the $32,500 price area.

The buyers still try to break and advance above the price area of $ 32,000 and $ 32,120.

It will be of extreme importance this evolution above the price area of U$ 32.000 so that the buyers begin to return to the total control of the situation above the central line of the BB, where they are already at this moment of the writing, but they will have to be sustained in the short term upwards of it.

It follows the sellers making it difficult once again to make positive advances up the $32,000 price area.

Resistance: U$ 31.908 // U$ 32.229 // U$ 32.670 // U$ 33.011.

Supports: U$ 31.510 // U$ 31.067 // U$ 30.567 // U$ 29.964.

https://www.tradingview.com/x/QFI9Bws5/

**Technical indicators: H1**

RSI: The RSI on the BTC H1 chart time is at level 94 and with a small bias upward.

https://www.tradingview.com/x/0DhdH8gj/

MACD: The MACD on the BTC chart time is at the negative -421 level and bullish bias.

https://www.tradingview.com/x/wt0broxT/

OBV: The OBV in BTC's H1 graphic time is at level 866 and bias upwards.

https://www.tradingview.com/x/smdgj9aB/

**M5 Graph:**

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

It will be necessary for the next sessions that the price of Bitcoin remains supported by Ichimoku Cloud in order not to start having heavier disadvantages below it.

It follows the buyers in control of the situation and wanting the positive developments upwards price area of U$ 32,000.

Resistance: U$ 31.711 // U$ 31.863 // U$ 32.020 // U$ 32.163.

Supports: U$ 31.530 // U$ 31.341 // U$ 31.156 // U$ 30.709.

https://www.tradingview.com/x/DDVk2Q2e/

*BTC dominance 64.99%*

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nº279