Bitcoin Price Evolution Analysis 02.17.2021
by CSM TRADER
nº294
BTC price U$ 51.356.
BTC price at Braziliex R$ 275.500.
USD/BRL price R$ 5.37.
Price EUR/BRL BRL 6.48.
Price Gold 1g R$ 315.96
Good morning to all readers.
The Bitcoin price is still in full uptrend above the price areas of $48,500 and $50,000.
The price of Bitcoin last session even made the new historic high, reaching the price area of $51,679.
After a correction that reached the price area of U$ 47,750, the Bitcoin price only evolved positively upwards from the price areas of U$ 49,000, U$ 50,000 and U$ 51,000.
The Bitcoin price still appears to be in good consolidation above the U$51,000 price area, where the odds of continuation upwards from the U$51,500 and U$52,000 price areas could arise.
In the case mentioned above, the Bitcoin price needs to hold above the U$ 51,000 and U$ 50,680 price areas for the next few sessions for the continuation of consolidations and the attempts of advancements upwards from the U$ 52,000 and U$ 52,420 price area.
If the Bitcoin price fails to move above the price areas of $51,679 and $51,940, negative corrections could appear and could extend below the $51,000 and $50,660 price areas where negative advances towards the $49,800 price area could appear.
Only an advance above $52,000 could continue the positive developments in the short term.
A daily close was made above the $49,127 price area.
A good close today would be above the $49,660 price area.
Buyers have finally managed to enter the $50,000 price area and continue with good moves so far above the $51,000 price area.
Buyers have still managed to make the new ATH in Bitcoin's price in the $51,679 price area and it looks like they are wanting more.
Buyers continue with the Bitcoin price with good consolidations and developments above the U$51,000 price area.
Now at the time of writing buyers follow with the Bitcoin price in the $51,400 price area, where they are again in an attempt to evolve the Bitcoin price above ATH in the short term.
It will be necessary for buyers to stay with the Bitcoin price above the U$ 51,000 and U$ 50,800 price areas for the next few sessions for continued attempts to evolve above U$ 51,780 and thus attempts to advance above U$ 52,000 may emerge.
In the case mentioned above, it will be of extreme importance for buyers to continue positive advances above the $51,500 price area, where they already seem to be facing a difficulty in advancing above it; as below $51,000 sellers could begin to gain strength and with that, create the downside of the $50,660 and $50,220 price areas.
It will be of extreme importance for buyers to stay with the Bitcoin price above the EMA 20 (H1), because below it the area will be total sellers' area and with that the downside corrections could continue downwards from the price area of $49,360.
Follow the buyers now at the writing in attempts to evolve above the price area of $51,400.
Bitcoin TODAY at Braziliex: H1
Bitcoin price today at Braziliex is still in a pure uptrend above the R$268,000 price area.
The Bitcoin price on Braziliex just now just made its newest historical high in Brazil, where it reached the R$ 277,504 price area; and it looks like it still has more new ATHs to come for the next few sessions.
In the case mentioned above, the Bitcoin price on Braziliex needs to hold and continue consolidations and positive developments above the R$270,000 and R$268,666 price areas.
If the Bitcoin price on Braziliex fails to provide continuity of positive developments above the R$275,500 price area the possibilities of negative advances below the R$273,600 and R$272,000 price areas could arise.
Buyers on Braziliex are making excellent moves so far above the R$270,000 price area.
It will be important for buyers on Braziliex to keep the Bitcoin price above the $270,000 price area in the short term so that they don't start having the downside created by sellers on Braziliex below the $274,220 and $272,000 price areas.
The psychological price area is at R$280,000 and R$300,000.
Follow the buyers on Braziliex in an attempt to evolve and still keep the Bitcoin price above the R$270,000 price area, which will be of extreme importance for the upcoming sessions.
Resistances: R$ 275,261 // R$ 277,609 // R$ 279,011 // R$ 280,504.
Supports: R$ 273,944 // R$ 271,999 // R$ 269,963 // R$ 268,153.
https://www.tradingview.com/x/9xVo75bc
H4 chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
Bitcoin price is just above the upper BB line where minor downside corrections could emerge.
It will be important for the Bitcoin price for the next few sessions to stay above the VWAP (purple line) and more importantly stay above EMA 5 (green line).
If the Bitcoin price comes to test the EMA 5 the downside corrections could grasp below the $49,500 and $49,360 price area.
Buyers now at the writing, continue with the Bitcoin price above the $51,500 price area and need this continuity above this price area in order to continue positive developments for attempts to move above $52,000 and $52,220.
If buyers fail to make a good, consolidated move above $51,500 and $51,780, sellers could take control of the situation momentarily and create the downside below $51,360 where buyers will have to defend the $51,000 price area because below this price area, the downside created by sellers could go below $50,660.
Follow the buyers in an attempt to continue the positive developments above $51,660.
The chart in H4 will follow throughout the week to give us a parameter of Bitcoin's price evolution. Only a few adjustments will be made.
Resistances: U$ 51.701 // U$ 52.352 // U$ 52.819 // U$ 53.347.
Supports: u$ 51,092 // u$ 50,421 // u$ 49,628 // u$ 48,754.
https://www.tradingview.com/x/H9r4jqZR/
H1 Chart:
Bitcoin price follows above the EMAs and well above the Ichimoku Cloud.
The Bitcoin price needs to continue positive developments above the EMA 5.
If the Bitcoin price were to correct below the EMA 5, these negative corrections could be understood to be below $50,920 where it would have to hold above the VWAP in order not to continue negative corrections below $50,550.
Buyers are in consolidations with the Bitcoin price above the $51,120 price area, where a good attempt at evolutions above the $51,500 and $51,780 price areas could emerge for the next few sessions, and still go for $52,000 and $52,220.
In case buyers fail with the short-term developments above $51,500, sellers could continue to create the downside below $51,380 and $51,120, where buyers will have to stop sellers above $51,000 to avoid getting the downside below $50,880 and $50,720.
Follow the buyers with their consolidations at the same time with difficulty of advances above the U$ 51,550.
Resistances: U$ 51.577 // U$ 51.960 // U$ 52.389 // U$ 52.771.
Supports: u$ 51,229 // u$ 50,742 // u$ 50,255 // u$ 49,837.
https://www.tradingview.com/x/uXJBWEbM/
Technical indicators: H1
RSI: The RSI on the H1 time chart of BTC is at the 91 level and stabilized.
https://www.tradingview.com/x/uzuRP8M0/
MACD: The MACD on BTC's chart time is at the positive level 669 and with a bullish bias.
https://www.tradingview.com/x/aTVNTUd7/
OBV: The OBV on BTC's H1 chart time is at the 1.02 level with a bullish bias.
https://www.tradingview.com/x/lpfXbj75/
M5 chart:
Bitcoin price follows above the BB centerline and above the VWAP and still above the Ichimoku Cloud.
Bitcoin price follows in strong consolidation between the price areas of $51,097 and $51,620.
The Bitcoin price looks to be preparing for another advance above the new ATH area, where possibilities for positive advances above $52,000 could occur.
Follow the buyers with the developments above U$ 51,500.
Resistances: U$ 51,691 // U$ 51,891 // U$ 52,114 // U$ 52,322.
Supports: $51,476 // $51,291 // $51,052 // $50,752.
https://www.tradingview.com/x/sNTWKtDR/
BTC dominance 62.68%.
" Just shouts GAIN who is willing to take a LOSS. " ----- Rafa Trade
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nº294
