Bitcoin Price Evolution Analysis 27.01.2021
by CSM TRADER
Price of BTC U$ 31,160.
BTC price at Braziliex U$ 172,024.
Price USD/BRL R$ 5.35.
Price EUR/BRL $ 6.49.
Price Gold 1g $ 320.58.
Good morning to all readers.
Bitcoin price follows in a downward trend below the price area of U$ 31,880.
The price of Bitcoin at some past sessions tested the price area of $ 30,836 and soon after a positive recovery where it exceeded the price area of $ 31,500 and $ 32,500, making a test in the price area of $ 32,921, where it failed to advance above the resistance in the price area of $ 33,000 and started again to correct negatively.
Now at the time of writing, the price of Bitcoin is in the price area of $30,160; where a test was already done in the price area of $30,755.
For a resumption of positive evolutions, the Bitcoin price will need to evolve above the $31,500 price area and go above the BB center line in the $31,880 price area for consolidations and with that the probabilities of giving a continuity above the $32,000 and $32,220 price area may occur.
Only a good advance above the price area of U$ 32,000 and U$ 32,220 for the Bitcoin price will return the positive evolutions above them.
In the case mentioned above, it seems to be very difficult at this moment the price of Bitcoin to make an evolution above the price area of $32,000, because above the price area of $31,330 the price of Bitcoin will have to face the EMA 5 (H1) and above it still has the EMA 20 (H1), the BB center line and the EMA 50 (H1), a very heavy task for a resumption in the short term and costly; but nothing impossible.
On the other hand, if the Bitcoin price does not achieve these advances above the AMS 50 or above the price area of $32,000, the probabilities of negative corrections continue below the price area of $31,800.
The price of Bitcoin can still follow its negative correction down from the last bottom formed in the price area of $30,755 and can still go for testing in the price area of $30,660 and extend below $30,260.
The price of Bitcoin seems to be going towards the price area of U$ 28,000 and U$ 27,400, where it is a very strong buying area.
It was made a daily closing above in the price area of U$ 32,460.
For today a closing above the price area of U$ 31,600 would be of good size.
The sellers follow in total control of the situation below the central line of BB (Bollinger bands).
The buyers even tried to evolve above the $32,000 price area, but were barred by the sellers who took back control of the situation and created the disadvantages again below the $32,000 and $31,000 price areas.
Now at the time of writing the buyers keep trying to take control of the situation up to the $31,420 price area or up to the EMA 5 (H1).
Only a strong advance by buyers above the $32,000 and $33,000 price area and above the EMA 100 (H1) to fully regain control of the situation and return the attempts to advance above the $33,200 and $33,500 price area.
The likelihood that sellers will take the Bitcoin price to the $28,000 price area to be "easier" than buyers to take the Bitcoin price above $33,000.
A diary closure has been made over the $32,400 price area.
For today a diary closure would be above the $31,600 price area.
It follows the buyers in an attempt to evolve the price of Bitcoin above the EMA 5 (H1).
Bitcoin TODAY at Braziliex: H1
Bitcoin price at Braziliex today follows a downward trend below the R$ 176,200 price area.
Bitcoin price at Braziliex is not managing to evolve above the R$ 180.000 price area and follows in negative corrections below the R$ 176.000 price area.
Now at the time of writing the price of Bitcoin at Braziliex follows in the price area of R$ 173,114.
The price of Bitcoin at Braziliex would need a good advance over the price areas of $ 176,440 and $ 178,380 for the return of attempts to top the price area of $ 180,000; but at this time it seems that the price of Bitcoin at Braziliex is facing strong resistance to the price area of $ 178,000.
Only a good advance and well consolidated above the price area of $ 176,600 and $ 177,000 for the possible positive evolutions back above the price area of $ 180,000.
The sellers at Braziliex remain in total control of the situation below the price area of R$ 180,000.
The probability that sellers will continue to make negative developments below the R$ 170,200 and R$ 168,600 price areas may arise for the next sessions.
Buyers at Braziliex will have the difficult task of trying to bar sellers above the R$ 167,000 price area, as below this price area sellers may visit the R$ 165,220 price area or even further down.
It follows the buyers in the attempt of evolutions above the price area of R$ 173.600.
Resistance: R$ 173.193 // R$ 174.555 // R$ 176.080 // R$ 170.072.
Supports: R$ 171,947 // R$ 170,001 // R$ 168,703 // R$ 166,984.
The price of Bitcoin follows below the MPEs and below the Ichimoku Cloud.
Only a good advance above the price areas of U$ 32,500 and U$ 32,800 for the price of Bitcoin to come back with its positive evolutions; but it will still have to evolve positively to new consolidations above the price area of U$ 33,000.
The buyers have held the sellers with the Bitcoin price above the price area of $30,755 and are now trying to evolve the Bitcoin price above the price area of $31,500.
Buyers still need a good upgrade above the $32,000 price area to possibly start the positive upgrades above $32,220 and $32,550.
On the other hand, the sellers still remain in control of the situation below the central line of the BB (red line) and will make it as difficult as possible for the buyers to try to evolve above the price areas of $31,550, $31,880 and $32,000.
It follows the buyers in the attempt to exceed the price areas of $ 31,500 and $ 31,660.
Resistance: U$ 31.611 // U$ 31.979 // U$ 32.332 // U$ 32.755.
Supports: U$ 31.352 // U$ 31.055 // U$ 30.702 // U$ 30.326.
The price of Bitcoin below EMAs and well below Ichimoku Cloud.
It will be necessary for the Bitcoin price to advance above the EMA 20 for possible positive evolutions above the price area of $31,800 and attempts to evolve above the price area of $32,000 may arise.
If the Bitcoin price continues negative evolutions below the $31,800 price area, the possibilities of advancing below the $31,080 price area and the test rounds again or even below the $30,755 price area may arise.
Buyers have a hard time getting out of the Bitcoin price area and moving up the $31,500 and $31,760 price areas.
Only a good advance of the purchasers over the price area of $31,600 and $31,880 to start leaving a big area of more disadvantages which is to stay with the Bitcoin price below $31,800.
Sellers have their eye on the price area of $28,000 and $27,400; in the medium term.
It follows the buyers trying to evolve the price of Bitcoin above the price area of U$ 31.500 and so they are trying to soften the fall.
Resistance: U$ 31.388 // U$ 31.589 // U$ 31.752 // U$ 31.915.
Supports: U$ 31.012 // U$ 30.745 // U$ 30.503 // U$ 30.315.
Technical indicators: H1
RSI: The RSI on the BTC H1 chart time is at level 8 and with a bearish bias.
MACD: MACD on BTC's chart time is at the Negative -278 level and with a bearish bias.
OBV: The OBV in BTC's H1 graphic time is at level 861 and low bias.
The price of Bitcoin follows below VWAP and below BB's center line.
Only one advance up the central line of BB to have the positive evolutions back up the price area of U$ 31,320.
The buyers are in good trouble with the sellers because the strength of the sellers still remains below the U$ 32,000 price area.
It follows the sellers making another new fund in the U$ 30.500 price area.
Resistance: U$ 30.802 // U$ 30.958 // U$ 31.114 // U$ 31.244.
Supports: U$ 30.485 // U$ 30.240 // U$ 30.063 // U$ 29.829.
BTC dominance 64.02%
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