Bitcoin Price Evolution Analysis 26.11.2020
by CSM TRADER
nº240
BTC price U $ 16,880.
BTC price on Braziliex R $ 90,050.
Price USD / BRL R $ 5.32.
Price EUR / BRL R $ 6.34.
Gold Price 1g R $ 311.42.
Good morning to all readers.
Bitcoin's price follows a downward correction, below the $ 19,488 price range, where now at the time of writing it is in the $ 17,200 price range.
As written in my analysis yesterday 25/11/2020 the price of Bitcoin would need to break the great resistance in the price area of U $ 19,500 and thereby move forward with its price above it without the formation of a double top.
The price of Bitcoin did not achieve this advance and a double top pattern was formed in this price area of $ 19,500 and with that the correction came and went strong.
This correction broke several important supports and fell below the price range of $ 19,000, $ 18,000 and $ 17,000 where it ended up in the $ 16,332 price range so far.
Now the price of Bitcoin follows a long journey back to attempts to advance upwards the resistances that were once support above the price range of $ 17,500, $ 18,000 and $ 19,000; that is, if it does not correct further down to the $ 15,500 / $ 15,000 price range, medium term.
The price of Bitcoin needs to remain above the $ 16,500 price range in order to continue positive progress and as a result, developments above $ 17,000 will continue.
If the Bitcoin price returns below the $ 16,500 price range, the negative odds of advancement below the $ 16,000 price range will not yet be ruled out, and with that, an advance to the $ 15,550 price range may arise and still extend below it.
Good consolidations above the $ 17,000 price range will now be required for the Bitcoin price for future advances above the $ 17,500 price range.
The price of Bitcoin will still have to bring the EMAs closer so that the evolutions above it do not become so "tiring", and with that, the evolutions above the EMAs can be made and the positive advances will occur and support the price above the same.
A close of the diary was made by the sellers in the area of price of U $ 18,720.
For today, a close above U $ 16,880 will already be a good size, because below this price area the disadvantages will continue to arise.
Buyers will only regain control of the situation with the Bitcoin price above the $ 18,000 price range and with that they still need good consolidations above it to not let the Bitcoin price return below $ 17,800.
Sellers remain in control of the situation after buyers are unable to exceed the $ 19,500 price point.
Vendors gained a lot of strength from sellers below the $ 18,600 price range and thereby took Bitcoin's price up to the $ 16,332 price range.
Sellers are still eyeing the lower price area and are below the $ 16,200 and $ 15,600 price range.
It will be extremely important for buyers to bar sellers above the $ 16,800 price range for the disadvantages created by sellers not extending below the $ 15,600 price range.
A close of the diary was made by the sellers in the area of price of U $ 17,720.
For today, buyers will have to try to close above the $ 17,000 price range, for consolidations above and developments.
It follows buyers in an attempt to evolve above the $ 17,240 price range and will still have to try to stop sellers above the $ 17,000 price range. Difficult situation for buyers.
Bitcoin TODAY on Braziliex: H1
Bitcoin price on Braziliex did not get the necessary advance above the price range of R $ 104,700 and with that corrections appeared.
The price of Bitcoin today on Braziliex now follows at the time of writing in the price area of R $ 93,016 where the correction started in the price area of R $ 104,700.
It will be necessary for the Bitcoin price on Braziliex to stay above the price range of R $ 88,000 and R $ 85,000 as the possibilities of negative advances below this price area are not ruled out, and may still extend below R $ 80,000.
Buyers will go into exhaustion and try to advance above the price range of R $ 105,000, and with that the sellers took advantage and got heavily in control of the situation and went down with the price of Bitcoin on Braziliex below the support of R $ 100,000.
The disadvantages still continued below the R $ 90,000 price range where buyers were able to stop these disadvantages in the R $ 89,000 price range.
It will be important for buyers to keep the Bitcoin price on Braziliex above the price range of R $ 90,200 for the next sessions for the necessary consolidations for advances above the price areas of R $ 95,400 and with that they can stabilize above it, because below the price range of R $ 90,000, the possibilities of more disadvantages created by the sellers will not be ruled out.
It follows buyers in an attempt to evolve above the price range of R $ 93,500.
Resistances: R $ 94,865 // R $ 95,828 // R $ 96,729 // R $ 95,506.
Support: R $ 94,263 // R $ 93,021 // R $ 92,182 // R $ 91,374
RSI: It is at level 50 and with an upward bias.
https://www.tradingview.com/x/wXRJMKID
Graph: H4
Bitcoin's price remains just above the EMA 100 where it still remains supported by EMA and Ichimoku Cloud support.
The price of Bitcoin for the next sessions needs to be at least above the $ 17,060 price range for possible developments above the $ 17,400 price range.
Buyers are finding it difficult to move Bitcoin's price above the $ 17,300 and $ 17,400 price range.
It will be necessary for buyers to make a real breakthrough above the $ 17,600 price range for the next sessions, as below the sellers are still in control of the situation below the $ 18,000 price range.
Buyers continue to try to evolve above the $ 17,300 price point where if they go into exhaustion more disadvantages will arise and may extend below $ 17,000.
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 $ 17,337 // U $ 17,620 // U $ 19,930 // U $ 18,118.
Supports: U $ 17,290 // U $ 17,004 // U $ 16,835 // U $ 16,658.
https://www.tradingview.com/x/6IXHya1H/
Graph: H1
Bitcoin's price remains below the EMAs and below the Ichimoku Cloud.
The price of Bitcoin follows with great difficulty in an advance above the price area of the $ 17,400 and with that it can go into exhaustion and still suffer the disadvantages below the price area of the $ 16,800.
An advance above the EMA 5 or above the VWAP will be required for the Bitcoin price for possible advances above the $ 17,500 price range.
Buyers are still struggling to make advances above the $ 17,300 and $ 17,400 price range and the disadvantages below the $ 17,000 price range may arise for the next sessions.
Sellers are still in control of the situation and making it difficult for buyers to evolve above $ 17,180.
This advance will be extremely important for buyers above the price of U $ 17,400, as buyers would leave a large risk area and could have disadvantages below U $ 17,000.
Resistances: U $ 17,444 // U $ 17,702 // U $ 18,000 // U $ 18,305.
Support: U $ 17,091 // U $ 16,770 // U $ 16,394 // U $ 16,057.
https://www.tradingview.com/x/6BGwU4ys/
Technical indicators: H1
RSI: The RSI at the BTC chart's H1 time is at level 32 and has a bullish bias.
https://www.tradingview.com/x/XJpWZIkj/
MACD: The MACD at the BTC chart time is at the -480 level and has a downward bias.
https://www.tradingview.com/x/7tKIOhA3/
OBV: The OBV at the BTC chart time H1 is at level 165 and has a downward bias.
https://www.tradingview.com/x/YBBCA4kL/
Graph: H5
Bitcoin's price remains below EMAs within the Ichimoku Cloud.
The Bitcoin price has just tested the $ 16,930 price area where it can continue negative advances below this price area if it doesn't stay or stand out above the EMA 50 and above the Ichimoku Cloud.
Sellers are in complete control of the situation below the $ 17,500 price point.
It follows buyers with great difficulty in developments above the $ 17,200 price range.
Resistances: U $ 17,151 // U $ 17,264 // U $ 17,343 // U $ 17,429.
Support: U $ 16,999 // U $ 16,879 // U $ 16,772 // U $ 16,658.
https://www.tradingview.com/x/yO4CuiCA/
BTC dominance 64.91%
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nº240
