Bitcoin Price Evolution Analysis 27.11.2020

by CSM TRADER

 nº241

 BTC price U $ 16,694.

BTC price on Braziliex R $ 91,500.

Price USD / BRL R $ 5.33.

Price EUR / BRL R $ 6.36.

Gold Price 1g R $ 309.45.

Good morning to all readers.

Bitcoin price follows a downtrend below resistance in the $ 17,500 price range.

Bitcoin's price has attempted advances above the $ 17,500 resistance, but to no avail, and in the face of that negative corrections are continuing below the $ 17,000 price range.

It will be necessary for the price of Bitcoin this advance above the price range of U $ 17,500 and U $ 17,800 in order for possible consolidations to be made above these price areas, and with that the possibilities of an advance above the U price area. $ 18,000 may occur.

The Bitcoin price still has a positive chance of evolving to return its evolution above the $ 17,400 and $ 17,500 price range if it were to make a double bottom pattern in the $ 16,185 price range, where it is the first fund formed after the big rise where the Bitcoin price reached the price range of $ 19,488.

If the price of Bitcoin fails in attempts to break the resistance in the $ 17,500 price range, the possibilities for further negative corrections may arise, and this time it may extend below the $ 16,000 price range, where the possibilities for advances below the $ 15,800 price range will not be ruled out.

If the price of Bitcoin comes to negatively reverse the monthly candle for the month of November you can visit the price area of ​​$ 13,800 or even more below that. But let's wait and see if the $ 17,500 price point will be conquered first.

For the weekend, Bitcoin's price needs to stay above EMA 5 to avoid falling into disadvantages below the $ 16,000 price range.

The diary was closed above the price area of ​​U $ 17,155.

For today very important a closing of the daily above the price area of ​​U $ 17,200.

The sellers are still in control of the situation and with that they continue to evolve below the $ 17,500 price point.

It will be extremely important for buyers to advance to the next sessions above the resistance in the price area of ​​the $ 17,500 and $ 17,600 where they still need to keep the Bitcoin price above these price areas for consolidations and with that the advances above of the US $ 17,500 could positively extend above the US $ 17,760 and US $ 17,800.

Only this advance above U $ 17,500 can start to revert to possible positive developments and little by little buyers will be able to get back in control of the situation again.

Buyers still need to try to stop sellers in the $ 16,200 and $ 16,000 price range, so that the possible disadvantages created by sellers do not begin to extend below the $ 15,800 price range.

A daily close was made above the price area of ​​U $ 17,155.

Buyers today need a close above the $ 17,100 price range.

Ideally, it would be above the $ 17,200 price range.

It follows buyers in an attempt to return developments above the $ 17,000 price point; as now at the time of writing, sellers are priced at Bitcoin in the price range of $ 16,816, and so negative corrections are happening slowly.

Bitcoin TODAY on Braziliex: H1

The price of Bitcoin today on Braziliex continues with great difficulty in advances above the price area of ​​R $ 94,400.

The Bitcoin price on Braziliex would need an advance above the price range of R $ 94,600 and R $ 95,200 to move out of a more disadvantageous risk area which is to stay below the price range of U $ 93,000.

Tests have already been done below the price range of R $ 87,000 and thus the probabilities of a return below R $ 87,000 and R $ 86,000 will not be ruled out.

Only an advance and consolidation above the R $ 95,200 price area can prevent further negative corrections below R $ 94,000.

The sellers are still in control of the situation with the Bitcoin price on Braziliex and with that the disadvantages below the R $ 94,000 price area are extending.

It will be necessary for buyers to advance above the price range of R $ 95,200 in order to be able to give possible continuity back to positive advances above the price area of ​​R $ 95,500 and R $ 96,000.

Buyers will still have the hard work of trying to stop sellers above the R $ 90,000 price range because below this price range, sellers will gain more strength and the disadvantages may reach the R $ 88,400 price range and still extend again below R $ 87,000 and this time they can visit the price area of ​​R $ 85,600.

It follows buyers on Braziliex in an attempt to evolve above the price range of R $ 91,500 and still in an attempt to stop sellers below R $ 91,000 that are increasingly falling with the price of Bitcoin.

Resistances: R $ 92,812 // R $ 93,656 // R $ 94,360 // R $ 94,906.

Support: R $ 91,493 // R $ 90,700 // R $ 89,981 // R $ 89,380

RSI: It is at level 61 and has a downward bias.

https://www.tradingview.com/x/KL3VS5Dh

Graph: H4

Bitcoin's price remains below the EMAs and below the Ichimoku Cloud.

The Bitcoin price would need an advance of the EMA 100 to continue a possible evolution above the price range of $ 17,300 and $ 17,500.

It will be of utmost importance that the Bitcoin price continues to stay above the $ 16,100 price area, as if the price starts to fall below the $ 16,000 price, corrections for tests for the $ 15,800 and U price area may come $ 15,600.

Buyers will only be able to get out of this “suffocation” by breaking the resistance in the area and price of $ 17,500 and will still have to maintain the price of Bitcoin for several sessions above this price area for consolidations and developments.

It follows buyers in an attempt to get back above the $ 17,000 price range.

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 $ 17,210 // U $ 17,471 // U $ 17,637 // U $ 17,680.

Support: U $ 16,827 // U $ 16,597 // U $ 16,329 // U $ 16,170.

https://www.tradingview.com/x/HbIIQ8aJ/

Graph: H1

Bitcoin's price remains below the EMAs and below the Ichimoku Cloud.

 The Bitcoin price needs an advance above the $ 17,500 price range to be able to return positive developments above the $ 17,460 area.

The ideal would be for the price of Bitcoin to be supported above EMA 50 for the necessary consolidations and, with that, the evolutions above U $ 17,500 could be guaranteed; but in reality the price of Bitcoin is struggling to make advances above the price range of $ 17,000 and $ 17,200.

Negative corrections remain below the $ 17,000 price range and may extend below $ 16,500 for the next sessions.

Only a double bottom pattern could reverse this situation for positive advances to return above the $ 17,360 and $ 17,500 price areas.

Vendors continue with the Bitcoin price below the $ 17,000 price range, and with this they are gaining more and more strength, and thus can continue negative developments below the price of $ 16,666 and $ 16,500 .

Buyers follow in an attempt to hold sellers above the $ 16,800 price range and will still need positive developments above the $ 17,200 price range to try to move out of the risk area in the short term. The situation for buyers at the moment does not seem easy.

Resistances: U $ 16,959 // U $ 17,121 // U $ 17,289 // U $ 17,445.

Support: U $ 16,763 // U $ 16,562 // U $ 16,344 // U $ 16,165.

https://www.tradingview.com/x/ntMQlur7/

Technical indicators: H1

RSI: The RSI in the BTC chart's H1 time is at level 31 and with a downward bias.

https://www.tradingview.com/x/9j972u5n/

MACD: The MACD at the BTC chart time is at level 198 and stabilized.

https://www.tradingview.com/x/uZ6uBW7x/

OBV: The OBV at the BTC H1 chart time is at level 140 and bears a downward bias.

https://www.tradingview.com/x/CO65mvz2/

Graph: H5

Bitcoin's price remains below the EMAs and below the Ichimoku Cloud.

It will be extremely important in the short term that the Bitcoin price will re-test the price areas of U $ 17,000 and U $ 17,160 above, in order not to have the continuation of negative developments below the U $ 17,000 price area and with that still and may extend below US $ 16,600.

Sellers remain in full control of the situation and keeping Bitcoin's price below the $ 17,000 price range.

It will be important for buyers to advance above the $ 17,000 price range for the next sessions so that no further disadvantages arise below $ 16,666.

Resistances: U $ 16,804 // U $ 16,868 // U $ 16,913 // U $ 16,953.

Supports: U $ 16,754 // U $ 16,696 // U $ 16,619 // U $ 16,560.

https://www.tradingview.com/x/B6ckYXI0/

BTC dominance 64.29%

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nº241