Bitcoin Price Evolution Analysis 03.02.2021
by CSM TRADER
nº287
Price of BTC U$ 35,820.
BTC Price at Braziliex U$ 195,000.
Price USD/BRL R$ 5.36.
Price EUR/BRL $ 6.45.
Price Gold 1g R$ 317.43.
Good morning to all readers.
The price of Bitcoin is on an upward trend above the price area of U$ 35,200.
The price of Bitcoin at some past sessions left the U$ 35,300 price area and went for testing with positive evolutions to the U$ 36,845 price area where it tried once again to surpass the U$ 36,845 price area, but this time without success and failed where it went back to correct until the U$ 35,509 price area.
Now at the time of writing the price of Bitcoin is in the price area of U$ 35,850.
It will be of extreme importance for the continuity of positive evolutions that the price of Bitcoin stay above the price areas of $35,500 and $35,220, so as not to start having the corrections of heavier casualties, and extending below the price area of $35,000 and $34,760.
The Bitcoin price needs to give its continuity of consolidations and positive evolutions above the price area of $35,460 so that it can give continuity up the price area of $36,000 and $36,360.
It will be important to advance upwards of $36,660 so that the price of Bitcoin tries again to break upwards of the price area of $36,845 and with that the possibilities of advances upwards of $37,000 and $37,320 may occur and still go in search of $38,000.
Remembering that; the price area of U$ 38.000 will not be at all easy to be surpassed, where, only a good consolidated and well "orchestrated" advance will be possible to move forward, to the price area of U$ 38.220.
The price of Bitcoin needs to be kept above the EMA 20 and 5, for the next sessions; because a fall below the EMA 20 could put at risk the positive evolutions above the U$ 36,000.
A good closing of the journal was made above the price area of U$ 35,475.
For today it will be necessary a closing above the U$ 35,120 to give the continuity of the high above the U$ 35,500 price area.
The buyers follow in total control of the situation where they have already tested the price area of U$ 36,845.
The buyers now at the time of writing continue with the Bitcoin price above the $35,900 price area, where the buyers should give the continuity of consolidations and positive advances up the $35,500 price area.
If buyers lose the $35,500 and $35,320 price area, sellers start to gain strength where they can lower the Bitcoin price below the $35,120 price area.
The buyers will have to try to bar the sellers to any above the $35,000 price area because below this price area the sellers have taken over the situation and may still create more disadvantages down the $34,800 and $34,720 price areas.
The buyers managed to make a good daily closing above the price area of $ 35,475.
For today buyers need a daily closing above the $35,120 price area or better still above $35,800.
It follows the buyers in the fight with the sellers to try to evolve the price of Bitcoin above the price area of U$ 36,000 and U$ 36,200; what will be of extreme importance in the short term to not enter in exhaustion and lose the control of the situation.
Bitcoin TODAY at Braziliex: H1
The price of Bitcoin at Braziliex continues with total positive evolutions above the price areas of R$ 188,000 and R$ 194,000.
The price of Bitcoin at Braziliex today is with excellent positive evolutions above the price area of R$ 190,000, where it should remain above this price area for the next sessions, so that the evolutions above R$ 200,000 and R$ 204,000 can occur again.
A test in the price area of R$ 197,999 has already been confirmed; now the price of Bitcoin at Braziliex needs and good consolidations above the price area of R$ 189,000 and R$ 190,000 so that positive evolutions above the R$ 200,000 can occur.
If the price of Bitcoin at Braziliex goes into exhaustion in attempts to exceed the price area of R$ 200,000 or even in an attempt to exceed the price area of R$ 198,600 the disadvantages to below the price area of R$ 190,000 may occur and still extend below the R$ 188,600.
The buyers follow the total control of the situation and will have to give the continuity of consolidations and positive advance above the price area of the R$ 190.000.
Below the price area of R$ 190,000 and R$ 188,800 sellers will be able to start to control the situation and with this try to lower the price of Bitcoin at Braziliex even further to below R$ 187,600 where buyers will have to bar the sellers because below this price area sellers will gain more strength and lower the price of Bitcoin at Braziliex to below R$ 186,600.
Follow the buyers their consolidations above the price area of R$ 190.000.
Reserves: R$ 195.978 // R$ 197.951 // R$ 199.017 // R$ 200.210.
Supports: R$ 193.818 // R$ 192.497 // R$ 191.094 // R$ 189.910.
https://www.tradingview.com/x/RX4AumPX
Graph H4:
The price of Bitcoin follows above the EMAs and above the Ichimoku Cloud, but a little below the VWAP.
It will be necessary for the price of Bitcoin to get back above VWAP (purple line) for the return of positive evolutions above the price area of U$36,320.
The price of Bitcoin now at writing time evolves upwards from the price area of $36,000 to the price area of $36,015.
Buyers keep track of the situation with the Bitcoin price and need a good consolidation above the $35,500 price area in order to get the necessary evolutions above the $36,340 and $36,660 price area for the next sessions and with that the probabilities of advancement above $37,000 may occur and extend above $37,220 and $37,360.
If buyers fail to evolve the price of Bitcoin above the price areas of $36,660 and $37,000, sellers will create the downsides to the price areas of $36,000 and $35,760 and may still extend these downsides below the $35,500 where buyers will lose the evolutions made so far above the $35,400.
It follows the buyers in the attempt to evolve the price of Bitcoin up to VWAP or up to the price area of U$ 36,320.
The graph in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only the resistance and bracket settings will be made.
Resistors: U$ 36,400 // U$ 36,861 // U$ 37,264 // U$ 37,711.
Supports: U$ 35.953 // U$ 35.535 // U$ 35.074 // U$ 34.613.
https://www.tradingview.com/x/32NJLb2m/
Graph H1:
The price of Bitcoin follows above the EMAs 20, 50 and 100 and above the Ichimoku Cloud, but below the EMA 5 and below the VWAP.
It will be of extreme importance that the price of Bitcoin remains supported above the EMA 20 and the BB center line, because below them, the disadvantages will arise below the price area of U$ 35,720.
Only one turn of a good advance above the price area of $36,460 for the price of Bitcoin to start leaving a risk area which is to stay a little bit above the EMA 20.
The buyers are still in control of the situation, but they will have to defend the central line of BB because below this the sellers will be able to return to control of the situation and with this they will create the disadvantages that they will be able to go below the price area of U$ 35,500 and still extend below the U$ 35,320 where the buyers will have to bar the sellers at any cost to not run the risk of more disadvantages below the U$ 35,000.
It follows buyers in trying to bar sellers above the EMA 20.
Resistance: U$ 35,970 // U$ 36,136 // U$ 36,247 // U$ 36,393.
Supports: U$ 35.805 // U$ 35.659 // U$ 35.497 // U$ 35.312.
https://www.tradingview.com/x/ZxvWczmu/
Technical indicators: H1
RSI: The RSI on the BTC H1 chart is at level 15 and biased upwards.
https://www.tradingview.com/x/wcXu5vxl/
MACD: MACD on BTC's chart time is at positive level 373 and with a bearish bias.
https://www.tradingview.com/x/PHTYZFdE/
OBV: The OBV in BTC's H1 graphic time is at level 868 and bias upwards.
https://www.tradingview.com/x/wHo9qBIT/
M5 Graph:
The price of Bitcoin follows above VWAP above BB's center line and above Ichimoku Cloud.
It will be necessary for buyers to keep the Bitcoin price at least above the Ichimoku Cloud in order not to start having the disadvantages created by the sellers back down the $35,800 price area.
Resistances: U$ 36.328 // U$ 36.394 // U$ 36.442 // U$ 36.517.
Supports: U$ 36.222 // U$ 36.148 // U$ 36.091 // U$ 36.004.
https://www.tradingview.com/x/8qeClZKK/
BTC dominance 62.76
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nº287
