Bitcoin Price Evolution Analysis 03.05.2021
by CSM TRADER
nº306
BTC price U$ 47.116.
BTC price at Braziliex R$ 271.999.
USD/BRL price R$ 5.66.
Price EUR/BRL BRL 6.76.
Price Gold 1g R$ 309.40.
Good morning to all readers.
Bitcoin price is still in a downtrend below the $48,000 price area.
The price of Bitcoin a few sessions ago continued its negative corrections to below the price area of U$48,000 and U$47,000 even testing the price area of U$46,296.
Now at the time of writing the Bitcoin price is in the U$47,189 price area.
The Bitcoin price needs continuities of positive developments upwards from the U$47,660 and U$48,360 price areas in the short term.
In the case mentioned above, if the Bitcoin price does not achieve a good and strong positive evolution upwards from the $48,120 price area, negative corrections could continue downwards from the $47,000 price area and retest the $46,300 price area, and could even test in the $45,120 price area or even back towards the $43,000 price area.
Only good, consolidated positive moves above the EMA 20 (H1) for attempts at positive moves above the $48,000 price area.
A daily close was made below the $48,000 price area.
For today a daily close above the $48,700 price area would be good for the possibilities of resuming positive moves and consolidations above the $49,120 price area.
Sellers continue to control the situation below the $48,120 price area.
It will be necessary for buyers a good and consolidated advance above the price area of $48,360 and $48,500, for attempts to get back above the price areas of $49,220 and $49,800, and with that, being able to invalidate the continuity of negative corrections below $46,500.
Only a good and consolidated positive advance by buyers above $50,000 will be able to return with their positive developments and the attempts of positive advances above $51,000 could resume.
The buyers are still trying to stop the sellers above the $46,800 price area and continue their positive moves above $47,320.
Bitcoin TODAY at Braziliex: H1
The price of Bitcoin today at Braziliex, continues in a downtrend below the U$ 274,400 price area.
The Bitcoin price on Braziliex a few sessions ago was testing the R$ 293,999 price area, where it failed with its positive advances upwards from the R$ 294,00 and R$ 296,000 price areas, and with that came the negative corrections downwards from the R$ 290,000, R$ 280,000 and R$ 276,000 price areas.
Now at the time of writing, the price of Bitcoin on Braziliex follows below the price area of $ 272,000, in the price area of $ 269,085.
It will be necessary for the Bitcoin price on Braziliex to resume positive developments upwards from the R$ 272,600 and R$ 276,000 price areas in order not to risk further negative corrections downwards from the R$ 267,600 and R$ 264,220 price areas.
A good, consolidated upside advance above R$282,000 would be necessary to invalidate a continuation of negative corrections below R$276,600.
Sellers in Braziliex below the R$ 280,000 price area.
It will be extremely important for buyers on Braziliex to regain control of the situation above the $278,600 and $280,000 price area in order to continue positive advances above the $286,600 price area.
If buyers fail to continue positive advances above the R$276,000 and R$278,220 price areas, sellers on Braziliex could continue negative advances again below the R$272,400 and R$270,000 price areas.
Follow the buyers in the attempt of positive developments above the R$ 275,000 price area.
Resistances: R$ 273,020 // R$ 276,042 // R$ 278,677 // R$ 281,001.
Supports: R$ 269,920 // R$ 267,208 // R$ 264,651 // R$ 261,706.
https://www.tradingview.com/x/hoYdp2iG
H4 chart:
Bitcoin price follows slightly above the VWAP, but below the EMAs and inside the Ichimoku Cloud.
The Bitcoin price needs to continue its positive moves above the EMA 5 in the near term for moves above $48,000 to occur.
If the Bitcoin price were to fail to return with its positive moves above the $48,220 price area, negative corrections could return below $47,220 and $47,000 again.
Buyers now at the time of writing are pricing Bitcoin above the $47,200 price area.
It will be necessary for buyers to continue consolidations and positive evolutions above the U$47,000 price area at this time so that they don't get the downside created by sellers back below U$47,000 and U$46,800.
Follow the buyers in an attempt to evolve the Bitcoin price above the $47,500 resistance.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistances: U$ 47,570// U$ 48,177 // U$ 48,760 // U$ 49,570.
Supports: u$ 47,089 // u$ 46,278 // u$ 45,519 // u$ 44,709.
https://www.tradingview.com/x/J2DRk8jN/
H1 chart:
Bitcoin price is tracking above the EMA 5 and VWAP, however it is still below the EMAs 20, 50, and 200 and below the BB centerline and well below the Ichimoku Cloud.
It will be important in the near term for the Bitcoin price to evolve above the EMA 20 for continued consolidations and positive evolutions above $48,000.
In the case mentioned above, the Bitcoin price will need to give the new continuities of consolidations and positive evolutions above the U$48,120 price area so that the continuation upwards of U$48,560 and U$49,000 can occur.
If the Bitcoin price fails to break through the U$48,520 resistance the possibilities for a return of negative corrections up to the U$48,120 and U$47,860 price area could occur.
Only a good advance above $48,660 for the possibilities of continued bullishness above $49,000 and the search back above $50,000 could arise.
Buyers are struggling to advance Bitcoin's price above $47,500, where such an advance will be of utmost importance.
If buyers fail to advance above $47,500 and $48,000, the downside created by sellers will appear again below $47,000 and may extend below $46,780.
Follow the buyers in an attempt to evolve the Bitcoin price above U$ 47,500.
Resistances: U$ 47,528 // U$ 47,935 // U$ 48,320 // U$ 48,648.
Supports: u$ 47,086 // u$ 46,758 // u$ 46,373 // u$ 45,966.
https://www.tradingview.com/x/J3QijRPk/
Technical indicators: H1
RSI: The RSI on the H1 time chart of BTC is at the 90 level and with a bullish bias.
https://www.tradingview.com/x/Xx9rTtnL/
MACD: The MACD on BTC's H1 chart time is at the negative -592 level with a bullish bias.
https://www.tradingview.com/x/WCQGJzMB/
OBV: The OBV on BTC's H1 chart time is at the 1.00 level and has a bullish bias.
https://www.tradingview.com/x/nHBcOYcR/
M5 chart:
Bitcoin price is tracking above the BB centerline and above the VWAP.
It will be necessary for the Bitcoin price to continue positive developments above U$48,000 and U$48,500.
If the Bitcoin price fails to break through the U$48,000 resistance the negative corrections could emerge again below U$47,220 and U$47,000.
Follow the buyers on the difficulty of advancing above U$ 47,500.
Resistances: U$ 47,385 // U$ 47,468 // U$ 47,539 // U$ 47,644.
Supports: u$ 47,240 // u$ 47,128 // u$ 47,000 // u$ 46,862.
https://www.tradingview.com/x/RloDF8ZG/
BTC dominance 58.84%.
" Making the complicated simple is easy. Making the complicated simple, that is creativity. " ------- Charles Mingus
Continue to follow my analysis through Tradingview as well:
https://br.tradingview.com/chart/BTCUSDT/TG0r7RAN/
Register at Braziliex and feel at home:
https://braziliex.com/?ref=87C5DFE2B009FA4E47917BD7639263A5
Follow my analysis on Twitter: https://twitter.com/BraziliexTrades?s=20
Follow my analysis on Twitter: https://twitter.com/CSM_Trader
Follow My Review on Instagram: https://instagram.com/braziliex
Follow My Review on Facebook: https://www.facebook.com/braziliex/
Follow my Review on Flipboard: https://flipboard.com/@CSMTRADER007
Follow my review on publish0x: https://www.publish0x.com?a=nXe0RKLGbx
With the BRZX Token you can:
💰Sell for Bitcoin on Braziliex
💸 Keep in your account to get discounts on fees
Make your registration and earn BRZX Token:
https://braziliex.com/?ref=87C5DFE2B009FA4E47917BD7639263A5
nº 306
