Bitcoin Price Evolution Analysis 03.04.2021

by CSM TRADER                                                                                                                

 nº305

 BTC price U$ 49.090.  

BTC price at Braziliex R$ 281.379.

USD/BRL price R$ 5.61. 

Price EUR/BRL BRL 6.76.

Price Gold 1g R$ 316.24.

Good morning to all readers.

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

The price of Bitcoin a few sessions ago tested the price area of $52,646, and came to fail with its positive developments above it, and with that, began its negative corrections below the price areas of $51,000, $50,000, and $49,000.

In the case mentioned above, the Bitcoin price even tested the $48,524 price area.

Now at the time of writing, the Bitcoin price is tracking in the U$49,296 price area.

It will be important for the Bitcoin price to return to positive developments upwards from the price areas of $49,550 and $50,000, so that negative corrections do not continue downwards from the price areas of $49,000 and $48,600, where it could still reach below $47,500; and below $47,500 the chances of a test or even below $45,600 could occur.

It will be of utmost importance for bullish continuity that the Bitcoin price gets back above the EMA 50 (H1).

A break above the $52,600 price area could take the Bitcoin price above the $53,220 and $53,700 price areas.

A daily close has been made above the U$50,100 price area.

For today a good close would be above the U$50,000 price area again.

Buyers failed to continue positive moves above $52,646 and failed to continue positive moves above $51,700; after the test at $52,646.

Sellers took advantage of the situation and came in strongly in control of the situation at the $50,000 price area, where they began to create the downside to below the $50,000, $49,000 price areas and coming in with the downside created up to the $48,524 price area.

Now at the time of writing, buyers are trying to regain control of the situation above the $49,000 price area; but they seem to be struggling to move above the $49,500 and $49,740 price area.

It will be extremely important for buyers to see positive moves back above the $50,000 price area in the near term.

Buyers need these developments above $50,000 to get out of a risk area that will be with the price of Bitcoin below it, because sellers are still in control of the situation and could create the downside again to low $48,600 and could still extend this downside to below $48,000 and $47,800.

Buyers continue to attempt positive developments above $49,500 and $50,000, which will be of extreme importance.

Bitcoin TODAY at Braziliex: H1

Bitcoin price today at Braziliex is still in a downtrend below the R$ 290,000 price area.

The Bitcoin price on Braziliex a few sessions ago, even tested the R$ 299,999 price area.

In the case mentioned above, after testing the R$ 299,999 price area and failing to continue positive developments upwards from it, the Bitcoin price at Braziliex went into negative corrections where it even tested the R$ 268,100 price area.

Now at the time of writing, the Bitcoin price on Braziliex is tracking in the $281,999 price area.

It will be important for the Bitcoin price on Braziliex to return with its positive developments above the R$284,600 and its continued consolidations above the R$276,600 and R$280,000 price areas, so that the possibilities of a return above the R$290,000 can occur for the next few sessions.

If the Bitcoin price on Braziliex were to fail in its continued positive developments above the R$286,600 and R$292,000 price areas, the possibilities of a return to negative corrections below the R$284,000 and R$278,000 price areas could occur.

Only a good and consolidated advance above the R$ 294,440 price area for the continuity of positive developments for the return of breakout attempts at the R$ 300,000 level.

Buyers on the Braziliex are trying to stay in control of the situation above the R$280,000 price area.

It will be extremely important for buyers on the Braziliex to follow through with positive moves above the R$284,440 and R$286,000 price areas.

If buyers on Braziliex fail to continue positive moves above the $286,000 level, then sellers on Braziliex could take control of the situation and create the downside again below the $280,000 level where they could extend the downside below $275,320.

Follow the buyers on Braziliex in an attempt to keep the Bitcoin price above the $280,000 price area.

Resistances: R$ 283,314 // R$ 287,012 // R$ 290,259 // R$ 293,657. 

Supports: R$ 279,129 // R$ 275,832 // R$ 272,234 // R$ 268,936.

https://www.tradingview.com/x/2eHODP4L

H4 chart:

Bitcoin price follows above the 100, 50 and 20 EMAS, may follows below the 5 EMA and the VWAP and still back inside the Ichimoku Cloud.

It will be necessary for the Bitcoin price to hold above the EMA 50 for the next few sessions.

If the Bitcoin price falls below the EMA 50 the negative corrections could proceed to that of the EMA 100, where it could again test the U$48,500 price area and still continue negative corrections below U$48,000.

Only a good advance above $50,000 or even above the EMA 5 for the Bitcoin price to break out of a risk area of further downside corrections.

Buyers continue in their attempts for positive developments above the $49,500 price area.

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

Resistances: U$ 49.362 // U$ 50.015 // U$ 50.622 // U$ 51.410.

Supports: u$ 48,710 // u$ 47,900 // u$ 47,090 // u$ 46,190.

https://www.tradingview.com/x/Qw3glthM/

H1 chart:

Bitcoin price follows above the 100 and 200 EMAs, may this below the 5, 50 and 20 EMAs still below the BB centerline and inside the Ichimoku Cloud.

The price of Bitcoin needs to remain supported above the 100 and 200 EMAs if it is not to return to negative corrections below $49,000.

If the Bitcoin price returns to negative corrections below $49,000, the odds of testing or even continuing negative corrections below $48,500 could happen, and even extend below $47,500 and $47,000.

Only a good, consolidated advance above $50,000 and $50,220 will allow the Bitcoin price to break out of a risk area of further downside corrections.

Buyers are still finding it very difficult to push Bitcoin's price above $49,500.

If buyers do not manage a good breakthrough above $50,000 for the next few sessions, sellers will continue to create the downside below $49,000 and may even extend the downside below $48,5000.

It follows buyers trying to keep Bitcoin price above the 100 and 200 EMAs.

Resistances: U$ 49.527 // U$ 49.997 // U$ 50.341 // U$ 50.773.

Supports: $48,954 // $48,458 // $48,013 // $47,417.

https://www.tradingview.com/x/J3QijRPk/

Technical indicators: H1

RSI: The RSI on the H1 chart timeframe for BTC is at the 23 level and with bullish bias.

https://www.tradingview.com/x/SUFuDiC7/

MACD: The MACD on BTC's chart time is at the negative level -211 with bearish bias.

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

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

https://www.tradingview.com/x/MZYqp4e1/

M5 chart:

Bitcoin price is tracking below the VWAP and above the BB centerline.

It will be necessary for the Bitcoin price to continue positive developments above the $50,000 price area in order not to have the negative corrections back to low $49,000 for the next few sessions.

Buyers are managing to advance the Bitcoin price above $49,400 and need to continue positive developments above $50,000 to not have major problems with sellers below $49,120.

Resistances: $49,599 // $49,736 // $49,852 // $49,984.

Supports: $49,405 // $49,278 // $49,157 // $48,994.

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

BTC dominance 61.26

" The lie never lives long enough to grow old. " ----- Socrates

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nº305