Bitcoin Price Evolution Analysis 23.11.2020
by CSM TRADER
nº237
BTC price U $ 18,556.
BTC price on Braziliex R $ 99,339.
Price USD / BRL R $ 5.38.
Price EUR / BRL R $ 6.39.
Gold Price 1g R $ 322.28.
Good morning to all readers.
Bitcoin price follows an upward trend as long as it is above the price range of $ 18,200 or EMA 100.
The price of Bitcoin after going into exhaustion and failed to advance above the $ 18,970 price range, where this weekend (21 and 22/11/2020) the Bitcoin price made a bearish correction that reached until the price area of U $ 17,609 and soon after returned to positive developments and continues above the price area of U $ 18,000 where now at the time of writing it is in the price area of U $ 18,628.
It will be important for the Bitcoin price to move above the resistance formed in the price range of $ 18,700 and $ 18,800 to attempt to evolve above the $ 19,000 price area; where the next big resistance that the Bitcoin price may have to face is in the $ 19,500 price range, where above that a test above the $ 20,000 price range will not be ruled out.
Bitcoin's price needs to stay above the EMA 100 (H1) or above the $ 18,200 and $ 18,000 price range so as not to again have negative disadvantages below the $ 17,940 price area and thereby go back to support formed in the price area of U $ 17,600 and with that being able to extend these disadvantages below the support of U $ 17,550.
A daily close was made above the price range of $ 18,410.
For today, a close above the $ 18,440 price range will be a good size, even for the Bitcoin price to continue consolidations and distributions above $ 18,200.
Buyers have exhausted Bitcoin's price in an attempt to advance above the $ 18,900 price range.
The sellers got in control of the situation, thereby creating disadvantages that exceeded the $ 18,000 support reaching the $ 17,600 price point.
Buyers have taken control of the situation in the $ 17,600 price area and have returned positive developments above the $ 18,500 price area where now at the time of writing they are facing difficulties in advancing above the $ 18,700 price area.
It will be of extreme importance this advance of buyers above the price range of U $ 18,700 and U $ 18,760 for the continuation of advances above the price area of U $ 18,800 and with that they do not go into exhaustion by attempts and lose control of the situation again .
If sellers get in control of the situation below the $ 18,500 price range, they could create disadvantages that could reach the $ 18,200 price range, where buyers will have to bar sellers in this $ 18,200 price range for these disadvantages do not extend below $ 18,000 and $ 17,880.
It will be of utmost importance for buyers to keep Bitcoin's price above the $ 18,000 price range for the next sessions.
Buyers were able to close the daily above the $ 18,400 price range.
For today, a close above the $ 18,400 price range will remain a good option for buyers.
Ideally, a close above the $ 18,600 price range.
It will be of utmost importance for the price of Bitcoin to move upwards from the $ 18,740 price area for the next sessions.
It follows buyers in the attempt and advances above the $ 18,700 price range.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin on Braziliex on 11/20/2020 broke a new historical record of its price reaching the value of a Bitcoin unit ie; 1 Bitcoin worth R $ 101,982, the highest price ever formed so far.
The price of Bitcoin today on Braziliex is above the price range of R $ 98,000 and with that the tape developments above the price area of R $ 99,600 are being made.
The price of Bitcoin on Braziliex needs to remain above the price range of R $ 98,200 in order to continue consolidations and developments above the price area of R $ 97,600 and with that, developments above R $ 100,000 may be occurring.
It will be extremely important for the Bitcoin price on Braziliex to stay above the price range of R $ 98,200 so as not to start having disadvantages below that and may reach below the price area of R $ 97,600 and thus extend below R $ 96,860. .
Buyers returned to control of the situation after the sellers entered and created negative disadvantages reaching the price range of R $ 96,100.
Now at the time of writing, buyers follow the Bitcoin price on Braziliex in the price range of R $ 100,750 where they should at least keep the Bitcoin price above the price range of R $ 98,600 to continue the positive developments above of the R $ 101,000 price area.
On the other hand, if the sellers get in control of the situation below the price range of U $ 98,500 they can again create disadvantages that could reach below the price area of R $ 97,000 and R $ 96,500 where this time they can extend below the area price of R $ 96,000.]
It follows buyers in an attempt to evolve above the price range of R $ 99,500 and R $ 100,000.
Resistances: R $ 100,769 // R $ 101,321 // R $ 102,016 // R $ 102,813.
Support: R $ 99,871 // R $ 99,094 // R $ 98,441 // R $ 97,603.
RSI: It is at level 83 and with an upward bias.
https://www.tradingview.com/x/4dMKmmP5
Graph: H4
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
Bitcoin's price is showing positive developments above the $ 18,700 price range.
It will be important for the Bitcoin price to continue positive developments above the price range of U $ 18,660 and U $ 18,740, for the continuation of consolidations and with that an advance above the price area of U $ 18,800 may appear for the next sessions.
The price of Bitcoin will have to remain above EMA 20 for the next sessions in order not to miss all the positive developments made so far above the price range of $ 18,200 and $ 18,300.
Buyers remain in control of the situation by staying with the Bitcoin price above the $ 18,500 price area and as a result positive developments above the $ 18,660 price area are occurring where they have only recently tested the US price area. $ 18,767.
It will be necessary for buyers to make a positive advance above the price range of U $ 18,800 and U $ 18,880 for the next sessions, to leave a risk area because, if the sellers are able to strengthen themselves, they can create disadvantages that may extend below the support of $ 18,500.
It follows buyers in an attempt to evolve above the $ 18,720 price range.
The chart on H4 had followed the whole week to have a parameter of Bitcoin price evolution. Only resistance and support adjustments will be made.
Resistances: U $ 18,794 // U $ 18,989 // U $ 19,210 // U $ 19,370.
Support: U $ 18,563 // U $ 18,323 // U $ 18,103 // U $ 17,847.
https://www.tradingview.com/x/RkiO9TA3/
Graph: H1
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
Bitcoin's price continues to advance well above the $ 18,660 price range.
It will be important to advance above the $ 18,740 price area and continue consolidations and developments above $ 18,700 for the next sessions, for the Bitcoin price not to be exhausted by attempts to stay above $ 18,700 and thus, negative disadvantages may arise.
If the price of Bitcoin manages to overcome the resistance of the $ 18,800 it could go towards the next resistance in the price area of the $ 18,880 and with that the probabilities of an advance above the $ 18,900 will be necessary to give continuity of evolutions and attempts over the $ 19,000 price range.
On the other hand, if buyers go into exhaustion due to attempted advances above the $ 18,700 and $ 18,800 price ranges, sellers will be able to take advantage of and take control of the situation and thereby create disadvantages that may go below the price area. from U $ 18,660 and with that still extending below U $ 18,500, where buyers will have to stop sellers to avoid having more disadvantages created below U $ 18,360.
It will be extremely important for buyers to advance above the price range of $ 18,800 and at the same time defend the price area above $ 18,660 and $ 18,600.
It follows buyers above the $ 18,720 price range.
Bitcoin's price remains above Fibo 0.236% in the price range of U $ 18,644 compared to below U $ 17,605 where it is expected to continue positive developments above Fibo 0.382% in the price area of U $ 18,445; because below this price area the disadvantages may occur below the 0.50% Fibo or below the area of the price area of U $ 18,284.
It will be extremely important for buyers to advance back above the price range of $ 18,700 and $ 18,800 for the next sessions, or the disadvantages created by sellers may return to appear below the price area of $ 18,600.
It follows buyers in the “fight” with sellers to get back above the $ 18,700 price area they just lost.
Resistances: U $ 18,758 // U $ 18,899 // U $ 19,066 // U $ 19,204.
Support: U $ 18,574 // U $ 18,388 // U $ 18,217 // U $ 18,021.
https://www.tradingview.com/x/FBbEX5G0/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 92 and has a downward bias.
https://www.tradingview.com/x/5XG637Th/]
MACD: The MACD at the BTC chart time is at level 40 and with a slight upward bias.
https://www.tradingview.com/x/GestKNFw/
OBV: The OBV at the BTC H1 chart time is at level 244 and has a downward bias.
https://www.tradingview.com/x/L9Y0p0XM/
Graph: H5
Bitcoin's price remains below the EMAs 5, 20 and 50 but above the EMA 100 from where it is expected to remain for the next session so as not to continue negative developments below the $ 18,550 price range.
Buyers need to defend the $ 18,600 and $ 18,550 price range to avoid having problems with sellers below this price area.
It follows buyers in an attempt to evolve above the $ 18,680 price point.
Resistances: U $ 18,665 // U $ 18,725 // U $ 18,769 // U $ 18,808.
Support: U $ 18,608 // U $ 18,550 // U $ 18,493 // U $ 18,435.
https://www.tradingview.com/x/tvSxfpJI/
BTC dominance 65.22%
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nº237
