Bitcoin Price Evolution Analysis 22.12.2020
by CSM TRADER
nº258
BTC price U $ 22,716.
BTC price on Braziliex R $ 116,454.
Price USD / BRL R $ 5.12.
Price EUR / BRL R $ 6.25.
Gold Price 1g R $ 311.38.
Good morning to all readers.
Bitcoin price follows a downward trend staying below the price range of $ 23,000 and $ 23,200.
The price of Bitcoin in past sessions has faced great difficulties in exceeding the price range of $ 23,100 and returns in correction below the price area of $ 23,000 where it comes to test the price areas of $ 22,460 and $ 22,340.
Now at the time of writing the price of Bitcoin remains in the price range of $ 22,790.
Bitcoin's price continues to consolidate above the $ 22,500 and $ 22,600 price areas.
It will be necessary for the Bitcoin price to make a direct advance above the strong resistance in the $ 22,880 price area, and still stabilize and consolidate above the $ 23,080 price area for the possibilities of advances that will be extremely important for the continuation of possible tests above the price range of U $ 23,120 and U $ 23,200.
Only a good advance and stability above $ 23,260 will be able to reverse the downward trend that seems that the price of Bitcoin is starting to enter; as being below the price range of $ 23,000 and below the EMA 100 (H1) the possibilities for further negative corrections may arise, and with this, more and more sellers will lower the EMA 100 (H1) and thus the difficulties of positive advances above the $ 23,000 price range will be far away.
If the price of Bitcoin for the next sessions re-tests the $ 22,360 price range, the possibilities for negative advances below the $ 21,920 and $ 21,860 price range may arise; and with that, the possibilities of negative advances below the $ 22,000 price range may occur.
Just a daily close above the $ 23,260 price range to bring Bitcoin's price back to the $ 23,000 price level or above.
A daily close was made above the $ 22,700 price range.
For today, a daily close above the $ 22,120 price range would be good.
Sellers remain in control of the situation below the $ 23,000 price range.
Sellers continue to attempt to lower the Bitcoin price below the $ 22,360 price range where a test has already been carried out, and with that, they will be able to extend the Bitcoin price still below $ 22,000.
Only a strong advance from buyers above the price range of $ 22,880 and $ 23,080 to get sellers off the hook.
A close was made above the $ 22,700 price range.
For today, buyers would have to close the daily above U $ 23,100 in an attempt to get back in control of the situation above U $ U $ 23,200; as below $ 23,000, sellers will continue to make negative corrections.
It follows sellers in control of the situation and in an attempt to hinder buyers' advances above the $ 22,800 price range.
Bitcoin TODAY on Braziliex: H1
Bitcoin price today on Braziliex follows an upward trend staying above the price range of R $ 117,200.
Bitcoin price on Braziliex continues with good positive developments above the price areas of R $ 116,400 and R $ 118,000.
It will be important for the Bitcoin price on Braziliex to continue its consolidation and evolution above the R $ 117,400 price area for the next sessions so as not to start entering an area of risk of negative developments below the R $ 116,600 price area. and with that, the possibilities of advances below the support formed in the price area of R $ 115,700 may arise and still extend below R $ 115,200.
Buyers are still in control of the situation and will have to keep Bitcoin's price above the R $ 116,200 price area for the next sessions, so as not to start having the biggest disadvantages made by sellers below R $ 116,000.
It will be extremely important for buyers to consolidate and make positive advances above the area of R $ 120,120 for the next sessions.
It follows buyers in an attempt to advance above the R $ 119,660 price range.
Resistances: R $ 119,910 // R $ 121,113 // R $ 122,162 // R $ 122,976.
Support: R $ 118,472 // R $ 117,550 // R $ 116,681 // R $ 115,759.
https://www.tradingview.com/x/zB1OJGzX
Graph: H4
Bitcoin's price remains below EMAs 5 and 20, but remains above EMAs 50 and 100 and still above the Ichimoku Cloud.
It will be important for the Bitcoin price to evolve above the EMA 20 (yellow line) for possible positive developments coming back above the $ 23,000 price range.
The price of Bitcoin has already been tested on EMA 50 and if we test again we have 2 possibilities; 1st, the price of Bitcoin can make a double bottom and return strongly above the price area of the US $ 22,600, and the second, to continue negative developments below the price area of the US $ 22,000 and go in search of EMA 100 (white line) in the $ 20,800 price range.
Only good developments and consolidations above the price range of $ 23,000 and $ 23,120 for a possible trend reversal.
Sellers are making it harder for buyers to move above the $ 22,800 price range, but buyers are still resisting and holding Bitcoin's price above the $ 22,500 price range; what could be a strong consolidation for the great evolution above U $ 23,000; because below $ 22,500 and $ 22,400, sellers will gain more strength for negative developments.
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 $ 22,842 // U $ 23,046 // U $ 23,291 // U $ 23,460.
Support: U $ 22,563 // U $ 22,394 // U $ 22,187 // U $ 21,956.
https://www.tradingview.com/x/SFO99oal/
Graph: H1
Bitcoin's price remains just above EMAS 5, 20 and 100 and below EMA 50, and below the Ichimoku Cloud.
Bitcoin price is in consolidations above the $ 22,500 and $ 22,360 price areas, and staying above these price areas for the next sessions, the possibilities for attempts at advances above the $ 23,000 price area may occur and even attempts to advance above $ 23,120 may arise.
If the Bitcoin price were to test the $ 22,360 price area again, the possibilities for advancement below this $ 22,300 price area could arise and still continue negative advances below the $ 22,200 price area.
Only a good advance above the EMA 100 (white line) for the continuation of positive advances above the price range of $ 22,880.
Buyers are holding sellers' shares well above the $ 22,500 and $ 22,460 price range.
It will be extremely important for buyers to fortify themselves above the $ 22,360 price point, and with that, the possibilities of a return from buyers above the $ 23,000 area and price may occur for the next sessions.
If buyers weaken further and sellers manage to pass below the $ 22,600 price range, the possibilities for a breakthrough below $ 22,500 and $ 22,440 may occur, and still go in search of another test in support of $ 22,360.
It follows buyers in an attempt to evolve above the $ 22,800 price range.
Resistances: U $ 22,850 // U $ 22,966 // U $ 23,046 // U $ 23,135.
Support: U $ 22,698 // U $ 22,579 // U $ 22,456 // U $ 22,350.
https://www.tradingview.com/x/S3dlrpH7/
Technical indicators: H1
RSI: The RSI at the BTC chart time H1 is at level 75 and has a bullish bias.
https://www.tradingview.com/x/mTgdprBB/
MACD: The MACD at the BTC chart time is at the negative -140 level and with an upward bias.
https://www.tradingview.com/x/b1CDAFlG/
OBV: The OBV at the BTC chart's H1 time is at level 315 and with upward bias.
https://www.tradingview.com/x/Q6XJ5XLS/
Graph: M5
Bitcoin's price follows above VWAP and above BB's central line.
The Bitcoin price remains above the $ 22,880 price range and needs to continue positive developments above the $ 23,080 price range for continued consolidations and positive advances above the $ 23,120 price range which will be a important price area to be conquered in the short term.
If the Bitcoin price goes into exhaustion and goes back below the $ 22,700 and $ 22,600 price range, the possibilities for a return below the $ 22,500 price range may occur.
It follows buyers wanting to regain control of the situation above the $ 23,000 price range.
Resistances: U $ 23,003 // U $ 23,046 // U $ 23,076 // U $ 23,114.
Support: U $ 22,944 // U $ 22,907 // U $ 22,867 // U $ 22,817.
https://www.tradingview.com/x/CVQ21XoI/
BTC dominance 66.79%
“Bitcoin, we are talking about just 18 million coins in circulation. A few years from now the word satoshis will be used as a monetary measure than the word Bitcoin, due to the currency's appreciation. "------ Ricardo Limite
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nº258
