Bitcoin Price Evolution Analysis 24.11.2020
by CSM TRADER
nº238
BTC price U $ 18,640.
BTC price on Braziliex R $ 101,000.00.
Price USD / BRL R $ 5.44.
Price EUR / BRL R $ 6.46.
Gold Price 1g R $ 317.53.
Good morning to all readers.
Many altcoin’s are going “full blown”, with extreme gains and historic high breaks.
Bitcoin price follows an upward trend as long as it stays above the $ 18,500 price range for the next sessions.
Bitcoin's price was in consolidations and distributions in past sessions between the $ 18,280 and 18,480 price areas.
Now at the time of writing, the price of Bitcoin has already surpassed the resistance in the price range of $ 19,000, reaching the area in the price area of $ 19,070, and now remains above $ 18,900.
It will be necessary for the price of Bitcoin to continue this high, staying above the price area of U $ 18,640 for the consolidation continuities and with that the price of Bitcoin may go in search of the highest price formed so far, which is in the area of the price of U $ 19,800 and thus the possibilities of advances above U $ 20,000 will be closer and closer, and may even extend positively above U $ 21,000.
On the other hand, if the price of Bitcoin does not manage to exceed the price area of the $ 19,800 a downward correction could happen and with that the price of Bitcoin needs to stay above the price area of the $ 18,740 in order not to lose the advance made until now and with that these disadvantages can extend below the $ 18,660.
A daily close was made above the $ 18,360 price range.
For today, closing the daily above the price range of $ 18,800 will be good for consolidations.
Ideally, a close above the $ 19,000 price range.
Buyers did a good job in consolidating between the $ 18,200 and $ 18,500 price areas and with that gained strength to overcome the high resistance of the $ 18,800 and remain above that in the $ 18,900 price area.
Buyers have now little tested the price range of $ 19,101.
Buyers will have to keep the Bitcoin price above the $ 18,800 and $ 18,700 price range in order not to let sellers gain control of the situation below these price areas and thereby strengthen where they can create disadvantages that may extend below the $ 18,550 price range.
It will be extremely important for buyers to continue making advances above the $ 18,800 and $ 19,000 price range for the next sessions.
There is very little left for buyers to be able to overcome the biggest high ever formed so far in the price of Bitcoin which is in the price range of $ 19,800.
Buyers closed the daily well above the $ 18,366 price range.
Today, a good daily close is above the price range of $ 18,800.
It follows buyers in an attempt to secure sellers with the Bitcoin price above the $ 18,800 and $ 18,720 price range, where it will be extremely important for buyers to keep the Bitcoin price above the $ 18,547 price range, for the next sessions.
Bitcoin TODAY on Braziliex: H1
The price of Bitcoin today on Braziliex, has now made little more than a new historic top in the price range of R $ 103,998.
It will be necessary for the Bitcoin price on Braziliex to continue consolidations above the R $ 99,200 price area for the possibilities of advances above the R $ 105,000 price area for the next sessions.
The Bitcoin price on Braziliex needs to stay above the R $ 99,000 price range in order not to start having disadvantages below the R $ 98,800 price range and thus may extend below the R $ 98,400 price range.
Buyers remain in full control of the situation as long as they keep the Bitcoin price on Braziliex above the price range of R $ 98,400 and with that the consolidations and developments may be happening above the price area of R $ 99,400 and R $ 101,000 , where the probabilities of an advance above the price range of R $ 104,000 may occur for the next sessions and with that even being able to extend further upwards and seek the price area of R $ 105,000.
On the other hand, if buyers fail to evolve above the R $ 104,000 price range, sellers will be able to take control of the situation and thereby create disadvantages that could advance negatively below the R $ 101,200 price range and thus extend below R $ 100,000 where it will be extremely important for buyers to try to stop sellers above the R $ 99,400 price range so as not to miss all the positive developments made so far above R $ 98,600.
Follow buyers with the price of Bitcoin on Braziliex today, with attempts at developments above the price range of R $ 102,000.
Resistances: R $ 103,126 // R $ 103,851 // R $ 104,472 // R $ 104,963.
Supports: R $ 102,505 // R $ 101,769 // R $ 101,196 // R $ 100,574.
RSI: It is at level 98 and has an upward bias.
https://www.tradingview.com/x/7rJTp71Z
Graph: H4
Bitcoin's price remains above the EMAs and above the Ichimoku Cloud.
Bitcoin's price remains above the $ 18,820 price area where it should remain at least above the $ 18,750 price area to continue consolidations and positive developments above the $ 19,000 price area for the next sessions .
It will be necessary for the Bitcoin price to advance above the price area of the resistance formed in the $ 19,101 price area to give continuity and positive advances above $ 19,200.
Buyers should keep the Bitcoin price above the $ 18,740 price range for the next sessions, so as not to start experiencing the disadvantages created by sellers below the $ 18,700 price range and sellers will be able to gain strength and may extend these disadvantages below the $ 18,660 price range.
It follows buyers in an attempt to consolidate and evolve above the $ 18,860 price point.
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 $ 19,108 // U $ 19,384 // U $ 19,574 // U $ 19,772.
Support: U $ 18,695 // U $ 18,402 // U $ 18,109 // U $ 17,869.
https://www.tradingview.com/x/YHsyDlND/
Graph: H1
The price of Bitcoin remains above the EMAs and above the Ichimoku Cloud and still outside the top line of BB (Bollinger Bands).
It will be necessary for the price of Bitcoin to be at least above EMA 20 and VWAP to continue positive consolidations and developments.
The price of Bitcoin appears to be ready to move towards breaking the big Historical Top in the $ 19,800 price area and moving upwards from the $ 20,000 price area.
The price of Bitcoin needs to give continuity to consolidations and developments above the price range of U $ 18,770 and U $ 18,800 in order to attempt this evolution above U $ 19,200 and U $ 19,500, which may not be such a simple advance ; but necessary for the next sessions or at least above U $ 19,200 for consolidations to be between the U $ 18,900 and U $ 19,280 price range.
Buyers remain in control of the situation and need to continue positive developments above the price range of US $ 19,000 and with that they can reach the price area of US $ 19,200, and stabilize themselves between these price areas for consolidations in the area of U $ 19,000 and U $ 19,200 and thus gain strength to go upwards of U $ 19,400 and U $ 19,500.
It will be extremely important for buyers to keep the Bitcoin price above the $ 18,800 and $ 18,740 price areas in order not to suffer disadvantages created by sellers.
If sellers are able to lower the Bitcoin price below the $ 18,740 price range, the disadvantages could extend below the $ 18,700 and $ 18,660 price ranges and may even reach the $ 18,547 price range.
It follows buyers in an attempt to keep Bitcoin's price above $ 19,000 for the next sessions.
Bitcoin price remains above the 0.5% Fibo in the $ 18,804 price range compared to the $ 17,608 below and the top in the $ 20,000 price range, where positive developments are expected to continue above the 0.382% in the price range of U $ 18,086; because below this price area the disadvantages may occur below the 0.50% Fibo or below the area of the U $ 18,800 price area and still being able to extend below the 0.618% Fibo in the U $ 18,521 price area.
It will be extremely important for buyers to continue positive advances above the price range of $ 18,860 and $ 19,000 for the next sessions so as not to fall into exhaustion and hand the situation over to the sellers.
It follows buyers in a “fight” with sellers to get positive developments back above the $ 19,000 price point.
Resistances: U $ 19,032 // U $ 19,210 // U $ 19,411 // U $ 19,657.
Support: U $ 18,876 // U $ 18,645 // U $ 18,397 // U $ 18,050.
https://www.tradingview.com/x/Ra3keVCY/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 90 and has a downward bias.
https://www.tradingview.com/x/mYhxp8Sx/
MACD: The MACD at the BTC chart time is at level 90 and has a bullish bias.
https://www.tradingview.com/x/1AjoFdBj/
OBV: The OBV at the BTC H1 chart time is at level 243 and has a bullish bias.
https://www.tradingview.com/x/hlI0Dwyu/
Graph: H5
Bitcoin's price remains above the EMAs 20, 50 and 100 and above the Ichimoku Cloud.
The price of Bitcoin needs to continue positive developments above the $ 19,000 price range in order not to fall into exhaustion and to fall in negative advances below the $ 18,800 price range.
Buyers need to continue to evolve above the $ 19,000 price range in the short term so as not to let sellers gain control of the situation below the $ 18,940 price area or below the EMA 20.
It follows buyers in an attempt to return Bitcoin's price above EMA 5.
Resistances: U $ 18,991 // U $ 19,028 // U $ 19,068 // U $ 19,104.
Supports: $ 18,948 // $ 18,911 // $ 18,865 // $ 18,821.
https://www.tradingview.com/x/H1hGQDM5/
BTC dominance 64.35%
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nº238
