Bitcoin Price Evolution Analysis 02.19.2021
by CSM TRADER
nº296
BTC price U$ 52.870.
BTC price at Braziliex R$ 288.300.
USD/BRL price R$ 5.42.
Price EUR/BRL BRL 6.58.
Price Gold 1g R$ 310.25.
Good morning to all readers.
Bitcoin price follows in uptrend above the $52,500 price area.
The price of Bitcoin just now makes another new historic high in its price, reaching the price area of U$ 52,965, and looks like it is about to make new ATHs upwards to the price area of U$ 53,120 and still being able to extend to U$ 54,000, for the next few sessions.
The Bitcoin price after a negative correction up to the price area of U$ 50,709 came to give the continuity of positive developments upwards to the price areas of U$ 51,000 and U$ 52,500 and thus making the new ATH at U$ 52,965.
Now at the time of writing, the Bitcoin price continues to consolidate for another new ATH above the U$53,000 price area.
It will be necessary for the Bitcoin price when the downside corrections come (which is healthy for a bullish continuation) to stay above the former strong resistance that was formed in the U$52,200 and U$52,000 price areas which now become strong support.
If the price of Bitcoin were to correct downward below $52,120 and $52,000 the corrections could be much larger and could extend below the $51,800 and $51,650 price areas.
The odds of positive advances upward from the $54,000 price area could occur for the next few sessions, and even test or even surpass the large psychological $55,000 price area.
The Bitcoin price needs to hold above the EMA 5 (H1) for the next few sessions for continued positive advances above the U$52,500 price area.
A daily close above the $51,540 price area was made.
Today would require a close above the $52,220 price area.
Buyers remain in full control of the situation where they manage to make another new ATH in the $52,965 price area.
Now at the time of writing buyers continue to hold the Bitcoin price above the $52,900 price area where they have just made another new ATH in the $52,985 price area.
The odds of buyers getting moves above the $53,000 and $53,120 price areas are high for the next few sessions.
Buyers will need to continue positive moves above $53,500, where it will be a decisive price area for continued advances above $54,000 and possibly above $55,000.
If buyers fail to move above $53,000 and $53,120, the downside created by sellers could emerge and with it the odds of negative moves below the $52,660 and $52,500 price area could appear.
It will be necessary for buyers to bar sellers above the $52,220 and $52,000 price areas if they are not to have major downside below these price areas.
Follow the buyers in their attempts to advance above the $53,000 price area, which will be of extreme importance at this time.
Bitcoin TODAY at Braziliex: H1
Bitcoin price at Braziliex today, continues in full consolidation above the R$280.00 price area.
The Bitcoin price on Braziliex has even tested the $288,300 price area being just below the ATH which is in the $288,999 price area.
It will be important for the price of Bitcoin on Braziliex this advance above the ATH at $288,999 so that the continuation of positive advances will conclude and with that the possibilities of advancing above the $300,000 price area can occur.
If the Bitcoin price on Braziliex should fail to move above the R$ 290,000 and R$ 296,600 price areas the possibilities of negative corrections downwards from the R$ 288,600 and U$ 286,440 price areas could arise.
Only a good and sustained positive advance of buyers on Braziliex upwards from the R$ 296,880 price area, to try and break through the psychological R$ 300,000 price area.
It follows buyers on Braziliex in the attempt of advances upwards from ATH in the price area of R$ 288,999.
Resistances: R$ 286,061 // R$ 287,993 // R$ 289,026 // R$ 290,241.
Supports: R$ 285,062 // R$ 283,739 // R$ 282,215 // R$ 280,370.
https://www.tradingview.com/x/jGLte552
H4 chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
Now at the time of writing the Bitcoin price follows in consolidations above the $52,660 price area.
It will be necessary for the Bitcoin price to continue positive developments above the new ATH in the $52,985 price area.
If the Bitcoin price comes into exhaustion from attempts to outperform the ATH, downsides could emerge downwards from the U$52,660 and U$52,550 price areas.
Buyers remain in control of the situation and want to advance the Bitcoin price above the U$53,000 price area.
Only a good, consolidated advance above the U$53,320 price area for buyers to start further consolidations and go for the U$54,000 price area.
If buyers fail to evolve the Bitcoin price above $53,000 and $53,120 the downside created by sellers will begin to appear below $52,660.
Follow the buyers in an attempt to evolve Bitcoin's price above $53,000.
The chart in H4 will follow throughout the week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistances: U$ 52.962 // U$ 53.303 // U$ 53.625 // U$ 54.005.
Supports: u$ 52,573 // u$ 52,155 // u$ 51,747 // u$ 51,292.
https://www.tradingview.com/x/bRoJpPZ1/
H1 chart:
Bitcoin price follows above the EMAs and above the Cloud and Ichimoku.
The price of Bitcoin follows in strong consolidation for attempts at a good, sustained advance above the $53,000 price area.
If buyers fail with these developments upwards from the U$53,000 and U$53,220 price areas the downside created by sellers could emerge and extend downwards from U$52,740 and U$52,620.
In the case mentioned above, buyers will have to bar sellers above the $52,220 and $52,000 price areas in order not to have the negative developments continue below $51,800.
It will be extremely important for buyers to keep Bitcoin's price above the EMA 5 in the short term in order to complete moves above $53,000 and $53,120.
Buyers may still attempt evolutions above $54,000, that is, if they are successful in staying in good consolidations with the Bitcoin price above $53,220.
Follow the buyers in the attempts of evolutions above the new ATH in the price area of U$ 52,985.
Resistances: U$ 52.896 // U$ 53.016 // U$ 53.221 // U$ 53.444.
Supports: u$ 52,654 // u$ 52,413 // u$ 52,078 // u$ 51,744.
https://www.tradingview.com/x/Hf5Y65uD/
Technical indicators: H1
RSI: The RSI on the H1 time chart of BTC is at the 100 level and stabilized.
https://www.tradingview.com/x/2XTx4JYM/
MACD: The MACD on BTC's chart time is at positive level 213 and with bullish bias.
https://www.tradingview.com/x/SrOUKxUN/
OBV: The OBV on BTC's H1 chart time is at the 1.03 level and with small bullish bias.
https://www.tradingview.com/x/InXSQCj9/
M5 chart:
Bitcoin price is tracking below the BB centerline and below the VWAP.
Continued positive advancement above the $52,900 price area will be necessary for the Bitcoin price.
Buyers need to continue positive moves above ATH to enter a new price level and may continue moves above $53,320.
If buyers fail the negative corrections will come down to the price areas of $52,660 and $52,500.
It follows buyers in the fight with sellers to keep Bitcoin's price above U$ 52,680.
Resistances: U$ 52,735 // U$ 52,798 // U$ 52,832 // U$ 52,864.
Supports: u$ 52,673 // u$ 52,612 // u$ 52,550 // u$ 52,496.
https://www.tradingview.com/x/9OaaImd6/
BTC dominance 60.79 %.
" If you trade any asset, control your risk and follow the trend, it simply has to work. " ------ Larry Hite
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nº296
