Bitcoin Price Evolution Analysis 02.22.2021

by CSM TRADER                                                                                                                

 nº297

 BTC price U$ 54.734.  

BTC price at Braziliex R$ 301.999.

USD/BRL price R$ 5.38.

Price EUR/BR R$ 6.52.

Price Gold 1g R$ 309.34.

Good morning to all readers.

Bitcoin price is still in a downtrend below the $55,000 price area.

Bitcoin price made another new historic high in its price, reaching the price area of U$ 58,353.

After this new ATH the Bitcoin price followed in negative corrections up to the U$53,303 price area, which was just now at the time of writing.

Now at the time of writing the Bitcoin price follows in the U$54,750 price area.

It will be necessary for the Bitcoin price to stay above the U$53,000 price area for the next few sessions, so as not to have heavier downside corrections below this price area and with that being able to visit the U$52,000 and U$51,500 price area.

On the other hand, if the Bitcoin price manages to continue its positive advances above the price areas of U$55,360 and U$55,550 the possibilities of advancing above U$57,000 could return and the rounds of attempts of another new ATH will be on course.

Only a good rebound above EMA 100 (H1) and above EMA 20 (H1) for the Bitcoin price to break out of a risk area and continue negative corrections below U$53,000.

A daily close was made above the $57,148 price area.

For today a good daily close would be above the $55,500 price area; as below $54,500 the downside corrections could continue below $53,000 and $52,660.

Buyers were able to make another new ATH, where they arrived with the Bitcoin price in the U$58,353 price area.

The buyers were unable to hold above U$58,000 and with that the sellers came in heavy in control of the situation and created the downside to the U$57,000, U$56,000, U$55,000, U$54,000 price areas and coming in now little testing the U$53,303 price area.

Now at the time of writing buyers are attempting a regain control of the situation upwards from the $55,220 price area.

It will be of utmost importance for buyers a good positive advance above the BB centerline or above the $56,000 price area, a long job for buyers ahead.

Follow the buyers as they attempt to move above the $55,200 price area.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price on Braziliex continues its full positive developments above the $280,000 price area.

Another new historic high was made in the price of Bitcoin on Braziliex and in the world, reaching the price area of $320,000.

Now at the time of writing the Bitcoin price on Braziliex is tracking in the price area of R$304,000, after a small downward correction that tested the price area of R$285,500.

The Bitcoin price on Braziliex needs to continue its positive evolution and consolidations above the R$ 300,000 and R$ 280,000 price areas so that the attempts of evolutions upwards to the new ATH can be completed and still going upwards to another new ATH above the R$ 350,000.

In the case mentioned above, if the price of Bitcoin on Braziliex corrects below the $280,000, the possibilities for continued negative corrections below the $277,600 and $276,220 could arise.

The buyers at Braziliex continue to do an excellent job with the price of Bitcoin staying priced above the $280,000 price area.

It will be extremely important that the buyers at Braziliex do not lose the $280,000 price area to the sellers.

If sellers manage to create the downside below $280,000, buyers will have great difficulty getting the Bitcoin price back above $300,000 and thus will lose all the excellent developments made so far.

Follow the buyers in an attempt to keep the Bitcoin price on Braziliex above the R$300,000 price area.

Resistances: R$306,733 // R$313,335 // R$319,743 // R$324,986. 

Supports: R$ 300,325 // R$ 295,742 // R$ 291,693 // R$ 287,472.

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

H4 chart:

Bitcoin price is tracking below the 20 and 5 EMA and below the VWAP.

It will be necessary for the Bitcoin price to get back above at least the EMA 20 for consolidations above it to occur, and with that, the possibilities of positive advances above U$55,320 and U$55,500 may arise.

If the Bitcoin price continues negative corrections below $54,500 the possibilities of a search for the EMA 50 (gray line) could arise and with that still extend below it.

Only a good and consolidated advance above the EMA 20 to return to positive advances above $55,600.

Buyers continue to have difficulty moving above the $54,220 price area.

It will be extremely important for buyers to break above $54,220 before they become exhausted and sellers will continue negative corrections below $54,500 and may extend below $53,800.

Buyers continue to attempt positive advances above the $55,220 price area.

The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.

Resistances: U$ 55,465 // U$ 56,488 // U$ 57,454 // U$ 58,278.

Supports: u$ 54,186 // u$ 53,021 // u$ 52,055 // u$ 50,890.

https://www.tradingview.com/x/bRoJpPZ1/

 H1 chart:

Bitcoin price is tracking below the EMAs and is almost coming out below the Ichimoku Cloud.

For the return of positive advancements, the Bitcoin price will need in the near term a good advance above the 100 EMA and continue above it.

If the Bitcoin price continues below the EMA 100 and breaks out below the Ichimoku Cloud, downside could proceed below the $54,500 and $53,740 price areas where the odds of continuation below $53,000 will be high.

Sellers are in full control of the situation and give the downside continuing to advance below the $55,000 where now at the time of writing they are below the $54,400 price area.

Buyers would have to try to bar sellers above the $54,000 price area in order not to have major downside down to below $53,600.

Follow the sellers as they attempt negative advances below $54,000.

A search by sellers for below the U$53,000 could emerge.

Resistances: U$ 54,388 // U$ 54,708 // U$ 55,144 // U$ 55,541.

Supports: u$ 53.594 // u$ 53.133 // u$ 52.698 // u$ 52.199.

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

Technical indicators: H1

RSI: The RSI on the H1 BTC time chart is at the 1.31 level and stabilized.

https://www.tradingview.com/x/6hpbPlk2/

MACD: The MACD on BTC's chart time is at the negative level -636 and with a bearish bias.

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

OBV: The OBV on BTC's H1 chart time is at the 1.05 level and with a bearish bias.

https://www.tradingview.com/x/MwoM27PF/

BTC dominance 60.44%.

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nº296