Bitcoin Price Evolution Analysis 03.02.2021
by CSM TRADER
nº303
BTC price U$ 48.970.
BTC price at Braziliex R$ 279.952.
Price USD/BRL BRL 5.64.
Price EUR/BRL BRL 6.77.
Price Gold 1g R$ 312.40.
Good morning to all readers.
Bitcoin price is still in an uptrend above the $47,500 price area.
The price of Bitcoin in the past sessions after leaving the price area of U$ 43,000 and with the great positive developments up to the price areas of U$ 45,000, U$ 47,000 and U$ 49,000, even tested the price area of U$ 50,200, where it had a small correction testing the price area of U$ 48,265.
Now at the time of writing, the Bitcoin price is tracking in the U$48,980 price area.
It will be necessary for the Bitcoin price of its continued consolidations above the U$48,120 price area for positive developments to occur upwards of the U$49,500 and U$50,000 price areas.
The price of Bitcoin will face extreme selling price areas above U$50,500, where these selling areas are in the U$51,000 and U$52,000 price areas.
It will be of extreme importance for the upcoming sessions that the Bitcoin price manages to advance its positive developments above the U$49,800 and U$51,440 price areas and stabilize with further consolidations above them, for positive advancement attempts above U$52,000 and U$52,320.
If the Bitcoin price manages to break through the U$52,220 price area, continued positive advances above U$53,000 could occur.
If the Bitcoin price fails to make positive advances above the U$ 51,500 and U$ 52,000 price areas, negative corrections will appear, and with that, they may move back to the U$ 48,600 and U$ 47,660 price areas, where below U$ 47,320 the possibilities for continued negative corrections below U$ 47,000 may arise.
Only a good, consolidated advance above the $50,500 and $51,000 price areas for continued positive advances above $52,000.
The most important thing is still for the Bitcoin price to hold above the 100 EMA (H1).
A good daily close has been made above the $49,600 price area.
For today a daily close would be very important for continued positive developments above the $51,000 price area.
Buyers remain in control of the situation above the $48,120 price area.
Buyers managed to test the $50,200 price area, but failed to continue.
Now at the time of writing, buyers follow the Bitcoin price at the U$49,078 price area.
It will be extremely important for buyers to continue positive advances upwards from the U$50,120 and U$50,500 price areas in the near term; so that they begin with further consolidations with the Bitcoin price, and with that, the possibilities of positive advances upwards from the U$51,320 and U$51,500 price areas can occur.
Buyers will face a large area from sellers in the price areas of $51,220 and $52,000.
Buyers will need to be successful in breaking out of these price areas in order for them to continue the sequence of positive advances above $51,500 and $51,880, and with that, the possibilities of advances above $52,000 could occur, and if buyers can hold on with further consolidations above $52,320 the possibilities of advances above $53,000 could arise.
If buyers fail with their positive moves above the $50,500 and $51,220 price areas, the possibilities for sellers to take advantage and take control of the situation will be great.
Once the sellers are in control of the situation, they will create the downside down to the price areas of $49,800 and $49,120, where they could still gain more strength and continue the downside down to the $48,660 price area, where buyers will have to try to stop the sellers at any cost, as below the $48,320 downside could be much greater down to the $47,600 price area.
Follow the buyers with the difficulty of positive advancement above $49,000.
Bitcoin TODAY at Braziliex: H1
The price of Bitcoin today at Braziliex, continues in strong consolidations above the R$270,000 price area.
The Bitcoin price on Braziliex has been holding and consolidating above the R$268,000 and R$270,000 price area; where these consolidations above the R$268,000 will be of extreme importance.
In the case mentioned above, if the price of Bitcoin on Braziliex continues consolidations above R$270,000 the possibilities of positive advancements above the R$276,000 and R$280,000 price areas could occur, which will be of extreme importance for the coming sessions.
Only a good and consolidated advance upwards from the R$ 284,000 price area for the Bitcoin price at Braziliex to leave a risk area, and thus could have negative corrections below the R$ 270,000 and R$ 268,600.
Buyers on Braziliex need to continue positive advances above the R$274,000 and R$277,200 price areas for the next few sessions and also continue consolidations above these price areas in order to achieve advances above the R$280,000 and R$282,000 price areas.
If buyers fail to advance above these price areas and most importantly above the R$280,000 level, sellers on Braziliex will take advantage of the buyers' failure and take control of the situation.
In the case mentioned above, sellers could create the downside again from the $270,000 price area, where they can still continue the downside down to the $268,000 and $266,600 price areas.
Very important for buyers on Braziliex to protect the $270,000 price area and still need the positive advances upwards of $280,000.
Follow the buyers on Braziliex in the attempt for positive developments above the R$280,000.
Resistances: R$ 279,882 // R$ 282,412 // R$ 285,029 // R$ 287,472.
Supports: R$ 277,264 // R$ 274,036 // R$ 270,720 // R$ 266,969.
https://www.tradingview.com/x/QrSoRn5Z
H4 chart:
Bitcoin price follows above the EMAs, but below the VWAP and the Ichimoku Cloud.
It will be of extreme importance for the Bitcoin price to keep supporting above the 50 and 100 EMAs, because if it falls below the EMAs the negative corrections could continue below the EMA 5 (green line) and with that the possibilities of a return below the $47,320 price area could occur.
Buyers continue with good consolidations above $48,000.
Only a good, consolidated move by buyers above the VWAP (purple line) for the possibilities of a move above the $49,000 price area can occur again.
Buyers will have to keep the Bitcoin price above the 100 EMA in the $48,200 price area to avoid the risk of sellers gaining control of the situation and thereby creating the downside below $48,000 and $47,800.
It follows the buyers trying to come back with the positive developments above $48,880 and $49,120, which will be of extreme importance for the next sessions.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin price evolution. Only some adjustments will be made.
Resistances: U$ 48.995 // U$ 49.574 // U$ 50.190 // U$ 50.862.
Supports: u$ 48.311 // u$ 47.558 // u$ 46.662 // u$ 45.915.
https://www.tradingview.com/x/HH9DbQ1R/
H1 Chart:
Bitcoin price follows above the EMAs above the Ichimoku Cloud, but slightly below the VWAP.
Bitcoin's price continues in strong consolidations above the $48,000 price area.
It seems that the Bitcoin price for the next few sessions could begin a strong advance above the $49,220 and $50,000 price areas where it could still extend these advances to the $50,550 price area, where it will need good consolidations again to continue positive advances above the $51,000 and $52,000 price areas.
Only with good advances and further consolidations above $52,000 for the Bitcoin price will it be able to give the sequence of positive advances upwards to $53,000 and $54,000.
Buyers continue with their consolidations above the U$48,000 price area and will attempt positive advances above the U$49,500 and U$50,000 price areas in the near term.
If buyers fail to continue positive developments above $51,000, the chances of sellers getting into control of the situation will be great, where they can create the downside to below $50,220 and $49,800, and buyers will have to bar sellers above these price areas, lest they lose further to the downside of sellers below $49,500.
Buyers are eyeing the $56,000 price area.
Follow the buyers in the attempt for positive developments above the U$50,000.
Resistances: U$ 49,096 // U$ 49,507 // U$ 50,025 // U$ 50,384.
Supports: $48,604 // $48,272 // $47,794 // $47,263.
https://www.tradingview.com/x/SkB7hXfH/
Technical indicators: H1
RSI: The RSI on the H1 chart timeframe for BTC is at the 27 level and with small bearish bias.
https://www.tradingview.com/x/JHSga8Xf/
MACD: The MACD on BTC's H1 chart time is at the positive 429 level with a bearish bias.
https://www.tradingview.com/x/LtDz44IW/
OBV: OBV on BTC's H1 chart time is at the 1.02 level and with bullish bias.
https://www.tradingview.com/x/PDZXshcB/
M5 chart:
Bitcoin price is tracking below the VWAP and below the BB centerline and is exiting below the Ichimoku Cloud.
It will take for the Bitcoin price to resume above the Ichimoku Cloud for the return of positive developments towards the $49,000 price area.
Buyers are still struggling to keep the Bitcoin price above U$49,000.
Resistances: U$ 48,985 // U$ 49,059 // U$ 49,162 // U$ 49,239.
Supports: $48,759 // $48,666 // $48,541 // $48,430.
https://www.tradingview.com/x/pudloQ46/
BTC dominance 61.33 %.
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nº303
