Bitcoin Price Evolution Analysis 02.25.2021

by CSM TRADER                                                                                                                

 nº300

 BTC price U$ 49.260.  

BTC price at Braziliex R$ 275.283.

Price USD/BRL R$ 5.40.

Price EUR/BRL R$ 6.60.

Price Gold 1g R$ 312.25

Good morning to all readers.

The price of Bitcoin is still in a downtrend below the price area of $50,000.

The price of Bitcoin a few sessions ago came with its negative corrections up to the price area of $48,029, and soon after began the positive developments up to the price areas of $49,000 and $50,000.

Above the price area of $50,000 there were 2 attempts to break through the price areas of $50,880 and $50,580 where again a double top pattern was made, and as the market does not forgive double tops, negative corrections started again downwards from the price area of $50,000 and $49,500.

Now at the time of writing the Bitcoin price is tracking in the $49,200 price area.

In the case mentioned above, the Bitcoin price needs a good positive advance upwards from the U$49,560 price area to make good consolidations between the U$49,440 and U$49,800 price areas for the possible advances above the U$50,000 and U$50,500 price area again. Remember that the Bitcoin price will face major resistance along this path with all of the EMAs (H1) above.

If the Bitcoin price continues negative corrections downwards from the U$49,000 and U$48,660 price areas for the next few sessions, the possibilities of a move back towards the U$45,000 price area could arise, and the Bitcoin price needs to hold above the U$45,300 and U$45,000 supports in order to not have the continuation of negative corrections downwards from the U$44,500 and U$43,880 price areas.

Only a good, consolidated upside advance above the EMA 20 (H1) for the Bitcoin price to get back above U$50,000 and it will still need strong consolidations to not get back below U$49,760 again.

A good daily close was made above the $49,660 price area.

For today the continuation of the daily close above the $49,220 price area will be very important, as below $48,660 the downside corrections will continue below $48,220.

Notice that attempts to break above the $51,000 price area are getting lower and lower.

Sellers remain in control of the situation below the $50,000 price area.

Buyers have failed 2 times to evolve the Bitcoin price above the $51,000 price area and with that the sellers have taken advantage of the buyers' weaknesses and have come in heavy in control of the situation where they are so far.

Now at the time of writing, sellers continue with the price of Bitcoin in the $49,200 price area, and continue to make it difficult for buyers to advance above $49,320 and $49,500.

Only a good and strong advance of buyers above the price areas of $49,660 and $50,000 or even above the EMA 50 (H1), to get out of a risk area of more disadvantages created by sellers, who could still give the sequence downwards from the price areas of $49,000 and $48,760.

Follow the buyers in an attempt to advance above the $49,500 price area.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price today on Braziliex, continues in a downtrend below the $280,000 price area.

The Bitcoin price on Braziliex is finding it difficult to make the continuation of positive advances upwards from the $286,000 price area, and with that, negative corrections below the $280,000 price area are appearing and extending below $275,000.

Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$270,000 price area.

It will be extremely important for the Bitcoin price on Braziliex to stay above the R$266,460 price area, because below this area and price the negative corrections could go back below the R$262,400 and R$260,000.

Only a good advance above the R$284,600 price area for a possible reversal and the possibility of advances above R$290,000 could arise.

Sellers on Braziliex remain in control of the situation below the R$280,000 price area.

It will be necessary for buyers to resume positive advances above the R$280,000 and R$286,000 price areas so that they can regain full control of the situation and with that the possibilities for positive advances above the R$290,000 price area may arise.

Follow the buyers in an attempt to bar sellers above the R$270,000 and R$268,600 price areas.

Resistances: R$ 277,467 // R$ 280,029 // R$ 283,036 // R$ 286,736. 

Supports: R$ 274,687 // R$ 271,841 // R$ 268,805 // R$ 265,105.

https://www.tradingview.com/x/a1pjRvt7

H4 chart:

Bitcoin price is tracking above the 100 EMA and below the 5, 20 and 50 EMAs and is still below the Ichimoku Cloud.

It will take for the Bitcoin price to make positive advances above the EMA 20, where the possibilities of advancing above the $51,000 price area.

If the Bitcoin price continues to stay below the EMA 5 and below the VWAP, the possibilities of a retest at the EMA 100 could occur and with that the possibilities of advances below the EMA 100 could arise.

Buyers continue to have great difficulty in evolving the price of Bitcoin above the $50,000 price area.

If sellers fail to continue advancing above $50,000, sellers will regain strength and with that could create the downside again below $49,500 and $49,000.

Follow the buyers now at the time of writing with good positive developments above the $49,660 price area.

Buyers continue to attempt developments with the price of Bitcoin towards the $51,000 level.

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

Resistances: U$ 50,499 // U$ 51,342 // U$ 52,327 // U$ 53,283.

Supports: $49,570 // $48,529 // $47,517 // $46,279.

https://www.tradingview.com/x/eIpdlHs5/

 H1 chart:

Bitcoin price follows above the 5 and 20 EMA, but below the 50 and 100 EMAs and below the VWAP and still follows inside the Ichimoku Cloud.

The Bitcoin price needs to continue its positive advancement above the EMA 20 (yellow line) in order to become supported above it, and with that, positive developments above $49,980 could emerge.

If the Bitcoin price were to fail with its positive developments above $50,000, the negative corrections could resume the sequence downwards from the $49,500 and $49,000 price areas where even these negative corrections could extend below $48,760.

Now at the time of writing, buyers face difficulties in continuing positive advances upwards from the $49,880 and $49,980 price areas.

Buyers continue with consolidations with the Bitcoin price above U$49,660 and need to take the Bitcoin price above the U$50,000 price area for the next few sessions so as not to go into trial exhaustion and lose the work done so far.

If the buyers fail with these evolutions above the $50,000 in the short term, the sellers will again get into control of the situation, and with that, they will create the downside below the $49,500 and $49,000 price areas where they can gain more strength below the $48,660.

Follow the buyers in the attempt for positive developments upwards from the $50,000 price area.

Resistances: U$ 49,971 // U$ 50,172 // U$ 50,359 // U$ 50,552.

Supports: $49,670 // $49,391 // $49,140 // $48,795.

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

Technical indicators: H1

RSI: The RSI on the H1 time chart of BTC is at the 32 level and has a bullish bias.

https://www.tradingview.com/x/u3Kyhc10/

MACD: The MACD on BTC's chart time is at the positive level 20 and stabilized.

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

OBV: The OBV on BTC's H1 chart time is at the 1.02 level and has bullish bias.

https://www.tradingview.com/x/ztzBA7h1/

M5 chart:

Bitcoin price follows above the BB centerline and above the VWA.

It will be necessary for Bitcoin price its continued positive developments and consolidations above the $50,000 price area.

Buyers have regained control of the situation above the U$50,000 price area and will attempt the breakout above the U$50,500 price area where if they fail again sellers may regain control of the situation and may again create the downside below U$50,000 and U$49,800.

Resistances: U$ 50,419 // U$ 50,616 // U$ 50,784 // U$ 50,952.

Brackets: U$ 50,090 // U$ 49,842 // U$ 49,571 // U$ 49,286.

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

BTC dominance 62.55%.

"If you can't fly, run. If you can't run, walk. If you can't walk, crawl, but keep moving forward anyway. " ----- Martin Luther King Jr.

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nº300