Bitcoin Price Evolution Analysis 03.03.2021
by CSM TRADER
nº304
BTC price U$ 51.456.
BTC price at Braziliex R$ 290.500.
USD/BRL price R$ 5.67.
Price EUR/BRL BRL 6.86.
Price Gold 1g R$ 315.24
Good morning to all readers.
The Bitcoin price is still in an uptrend above the $49,500 price area.
The Bitcoin price a few sessions ago failed to give the sequence of positive developments above the price area of U$ 50,000, and went into negative corrections up to the price area of U$ 47,048, where it had strong accumulations below the Ichimoku Cloud (H4) between the price areas of U$ 47,320 and U$ 48,700.
After a few hours of pure accumulation the Bitcoin price began with its positive developments upwards from the price areas of U$48,000, U$49,000 and U$50,000, and with that exiting above the Ichimoku Cloud where it still remains (H4).
Now at the time of writing, the Bitcoin price follows in the price area of U$ 51,333 and needs to give the sequence of accumulations and the positive developments above the price area of U$ 49,880 and U$ 51,000 so that it does not go back inside the Ichimoku Cloud, because the probabilities of return the negative corrections downwards from the price areas of U$ 49,800 and U$ 49,360 could occur.
It will be important for the Bitcoin price to continue above the $51,500 resistance and continue consolidations above it for a nice, direct advance above the major resistance of $52,000, which is a great area for selling.
If the Bitcoin price succeeds in breaking through the U$ 52,000, positive developments above the U$ 52,440 could occur, and could still give the sequence above the U$ 53,000 and U$ 54,000, for the next sessions.
On the other hand, if the Bitcoin price were to fail to make positive moves above $51,500, $51,880, and $52,220, negative corrections could emerge and follow below the $51,220 and $50,800 price areas.
It will be necessary for the Bitcoin price to hold above U$50,000 for the next few sessions, or even above the EMA 20 on (H1) or above the Ichimoku Cloud on (H4).
A daily close has been made above the $48,250 price area.
For today a good daily close and to continue positive developments would be above the $50,000 price area.
Buyers remain in full control of the situation above the $50,500 price area.
Buyers need to continue positive developments above the price areas of $51,000, $51,500 and most importantly the successful breakout of the major resistance of $52,000.
Once this breakout at $52,000 is completed, the possibilities of positive continuity and advancement above $52,440 will be of extreme importance, so that buyers will try to advance above the $53,000 and $54,000 price areas.
If buyers fail to move above $51,800, $52,000, and $52,440, the possibility of sellers getting a grip on the situation and creating the downside of the $51,600 and $51,120 price areas is not ruled out and could even come back down to below $49,760.
Buyers need to keep Bitcoin's price above the EMA 5 in the near term to remain in a "comfortable" situation for continued positive developments above $51,500.
Only the advance above $52,660 for the continuation of bullishness above this price area.
Buyers continue to attempt to move above $51,660 and $51,800.
Bitcoin TODAY at Braziliex: H1
The Bitcoin price today at Braziliex continues its positive developments above the R$286,000 price area.
Bitcoin price on Braziliex after strong accumulations between the price areas of $270,000 and $280,000, managed to make the breakout in the price area of $288,000 and $290,000.
Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$ 291,000 price area.
It will be important that the Bitcoin price on Braziliex remains in consolidations above the R$ 285,600 price area for the next few sessions, so that continued positive developments above the R$ 290,000 and R$ 296,220 can occur, and even with the possibilities of attempts or even the breakout of the major resistance in the R$ 300,000 price area can arise.
If the Bitcoin price fails in its attempts at positive advancement above $296,000, the possibilities of negative corrections below $288,220 could arise, and even extend below $286,500.
Buyers on Braziliex remain in control of the situation above the R$270,000 price area.
It will be necessary for buyers to continue with consolidations and positive moves above the R$288,500 price area and attempt moves above the R$294,000 price area in the near term.
If the buyers on Braziliex fail with their moves above the R$294,000 level, the sellers on Braziliex could take control of the situation and where they could create the downside below the R$290,000 and R$288,500 price areas.
Follow the buyers in an attempt to continue the sequence of positive developments above the R$ 292,360.
Resistances: R$ 294,116 // R$ 297,490 // R$ 300,102 // R$ 303,911.
Supports: R$ 290,247 // R$ 286,497 // R$ 283,015 // R$ 278,879.
https://www.tradingview.com/x/7QmUzTfU
H4 chart:
Bitcoin price follows above the EMAs and slightly above the Ichimoku Cloud.
It will take the Bitcoin price from its continued positive developments to above the Ichimoku Cloud.
The Bitcoin price is making positive moves above the $51,560 price area and needs to continue above the major resistance of $52,000, lest it lose all the moves made so far above $49,500.
If the Bitcoin price fails to break above the $52,000 price area the negative corrections will appear and could move below $51,500 and $51,000.
Buyers continue to make great advances with the Bitcoin price above the $51,000 price area, and need to continue consolidations and advances above it.
Only a good and consolidated buyers' advance above $52,000 and $52,340 to get a new price area for new consolidations and get out of a risk area that is staying with the Bitcoin price below $51,220.
If buyers fail in these positive developments above $51,800 and $52,000, sellers could take control of the situation and create the downside below $51,500 and $51,000.
Follow the buyers forcing the positive developments above $51,600.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin price evolution. Only some adjustments will be made.
Resistances: U$ 49.943 // U$ 50.531 // U$ 51.187 // U$ 51.792.
Supports: u$ 49.624 // u$ 48.918 // u$ 48.381 // u$ 47.843.
https://www.tradingview.com/x/JPxXAq6M/
H1 Chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
The Bitcoin price is facing difficulties in its continued positive developments above the $51,700 level.
It will be necessary for the Bitcoin price to stay above the $51,000 and $50,800 price area for the next few sessions to provide continued consolidations and positive developments above $51,600 and $51,880 and still attempt the $52,000 breakout.
If the price of Bitcoin enters exhaustion in attempts to follow through above $51,700 and $51,880, negative corrections may begin to appear and with that the possibilities of a return to the $51,320 and $50,800 price area may appear.
Buyers remain in control of the situation and are having a difficult time making positive advances up to the $51,500 and $51,700 price areas.
Now at the time of writing, buyers are with the Bitcoin price in the $51,355 price area where they need to keep the Bitcoin price above $51,000 so they don't start having the downside created by sellers down to below $50,800 or below the EMA 5.
It follows the buyers in an attempt to hold the Bitcoin price above U$ 51,200 and they need to return the positive developments to above U$ 51,500 and U$ 51,660.
Resistances: U$ 51,556 // U$ 51,978 // U$ 52,236 // U$ 52,503.
Supports: U$ 51.216 // U$ 50.815 // U$ 50.351 // U$ 49.960.
https://www.tradingview.com/x/n9FwxRnO/
Technical indicators: H1
RSI: The RSI on the H1 time chart of BTC is at the 99 level and stabilized.
https://www.tradingview.com/x/oJbyTORj/
MACD: The MACD on BTC's chart time is at the 846 level with bullish bias.
https://www.tradingview.com/x/QVSCxzhI/
OBV: The OBV on BTC's H1 chart time is at the 1.03 level and stabilized.
https://www.tradingview.com/x/ZHsMJDcK/
M5 chart:
Bitcoin price follows above the BB centerline and above the VWAP.
It will be necessary for the Bitcoin price to continue positive developments above the price areas of $51,500 and $51,600 for the possibilities of advancing above $51,920 to appear and with that the developments above $52,000 can be completed.
Buyers continue in their attempts for positive developments above the $51,500.
Resistances: $51,699 // $51,789 // $51,922 // $52,031.
Supports: $51,523 // $51,413 // $51,283 // $51,163.
https://www.tradingview.com/x/pRqr8J1k/
BTC dominance 61.83%.
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nº 304
