Bitcoin Price Evolution Analysis 03.08.2021

by CSM TRADER                                                                                                                

 nº307

 BTC price U$ 50.250.  

BTC price at Braziliex R$ 283.713.

USD/BRL price R$ 5.69. 

Price EUR/BRL BRL R$ 6.76.

Price Gold 1g R$ 310.22.

Good morning to all readers.

The price of Bitcoin continues in an uptrend above the $49,500 price area.

The price of Bitcoin this weekend 06 and 07/03, began the positive evolutions after a correction up to the price area of U$ 47,069.

These positive developments even tested the price area of $51,847.

There was a failure to continue positive evolutions upwards from U$52,000, and the Bitcoin price went into negative corrections downwards from the U$51,000, U$50,000 and even testing the U$49,273 price area a few sessions past.

Now at the time of writing, the Bitcoin price is tracking in the U$50,255 price area.

In the case mentioned above, the Bitcoin price needs to give its continued consolidations and positive developments above the U$49,500 price area, so as not to enter negative corrections again below this price area and potentially extend below U$48,800 and U$48,500.

If the Bitcoin price continues its positive moves above the $50,500 and $50,760 price areas, the possibilities for continued positive moves above the $51,000 and $51,460 price areas could arise; but only a good, consolidated positive move above $51,847 could open up the possibilities for continued positive moves above the major resistance of $52,000.

Above $52,000 the Bitcoin price will need good consolidations for the breakout attempt at the second major top ever formed (H1) which is at the $52,654 price area and with that, the possibilities of breakouts above $53,000 and $54,000 could occur.

Bitcoin's price needs to continue and stay supported above the 100 and 50 (H1) EMAs in order not to have further negative corrections below them.

A good daily close was made above the $50,840 price area.

For today, the continuity of a daily close above the $50,500 price area would be good. Ideally, a close above the $51,220 price area would be good.

Buyers have regained control of the situation above the $50,000 price area.

Buyers need to move Bitcoin's price up above the U$50,220 and U$50,560 price areas in the short term to get out of a risky area of staying with Bitcoin's price below U$50,000.

If buyers fail to continue positive advances upwards from the U$50,220 and U$50,500 price areas, sellers could regain control of the situation and create the downside below U$50,000.

In the case mentioned above, buyers will have to try to stop sellers above the $49,750 and $49,400 price areas, as below these price areas, sellers will gain more strength where they can create more downside to below the $49,000 and $48,880 price areas.

Buyers need near-term, positive advances above the EMA 20 (H1) and BB centerline (H1), above $50,550.

Follow the buyers in their attempts to move above the $50,220 and $50,500 price areas.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price today at Braziliex continues in an uptrend above the $280,000 price area.

The price of Bitcoin at Braziliex this weekend 6 and 7/03 was in good consolidations and positive developments between the price areas of $ 280,000 and $ 290,000, where it even tested the price area of $ 294,000 a few sessions ago.

Now at the time of writing, the Bitcoin price on Braziliex is in the R$285.01 price area.

It will be important for the Bitcoin price at Braziliex to continue its consolidations and positive developments above the R$ 280,000 price area, because below this price area negative corrections could appear and give continuity downward to the R$ 278,600 and R$ 276,440 price areas, and thus invalidating a continuation of positive advances above the R$ 296,00 and R$ 298,220 price areas.

Buyers on Braziliex remain in control of the situation above the R$280,000 price area.

It is important for buyers to continue consolidations above the R$281,000 price area and they still need to continue positive advances above the R$286,600 and R$288,000 price areas for further consolidation attempts above the R$290,000 price area.

If the buyers on Braziliex fail to continue positive developments upwards from the R$ 287,220 and R$ 290,000 price areas, the sellers on Braziliex will take advantage and could create the downside downwards from the R$ 284,000 and R$ 282,600 price areas.

In the case mentioned above, it will be of utmost importance for the buyers on Braziliex to bar the sellers above the $280,000 price area, as below this price area the sellers on Braziliex will gain strength and could continue the downside down below the $278,000 and $276,600 price areas.

Follow the buyers at Braziliex in the attempt of positive developments above the price area of R$ 286,360.

Resistances: R$ 286,225 // R$ 288,864 // R$ 291,421 // R$ 293,896. 

Supports: R$ 283,008 // R$ 280,039 // R$ 275,895 // R$ 275,808.

https://www.tradingview.com/x/bz1Umw1O

H4 chart:

Bitcoin price follows above the EMAs and above the Ichimoku Cloud, but slightly below the VWAP.

It will be important for the Bitcoin price to move above the VWAP for the next few sessions to be able to follow positive advances upwards from the $50,440 and $50,500 price areas.

The price of Bitcoin needs to remain above the EMA 20 to avoid negative corrections below it and continue downward from the price area of $49,120 and $49,000.

Buyers continue with consolidations above the $49,500 price area.

It will be of utmost importance that buyers achieve the positive advances above $50,500 for the next few sessions; for if they fail, sellers will take control of the situation and may begin to create the downside below $50,000 and $49,620 where buyers will have to bar sellers above $49,000 at all costs as below this price area the continuity of downside created by sellers may extend below $48,740 and $48,500.

Buyers continue to attempt positive moves above $50,320.

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

Resistances: U$ 50,419 // U$ 51,104 // U$ 51,659 // U$ 52,214.

Supports: u$ 49,735 // u$ 49,087 // u$ 48,366 // u$ 47,774.

https://www.tradingview.com/x/Tl9w6o51/

 H1 chart:

Bitcoin price follows above the Ichimoku Cloud and above the 200,100, 50 and 5 EMAs, however it is still below the BB ( Bollinger Bands ) centerline and the VWAP and 20 EMA.

Bitcoin price shows good consolidations and continuities of positive developments above $50,120.

Now at the time of writing, the Bitcoin price is showing positive developments above the U$50,400 price area.

It will be important for these positive developments to continue above the U$50,500 and U$51,000 price areas.

Buyers remain in control of the situation with the Bitcoin price above $50,220 and are in the mood for more positive moves above $50,500, where it will be of utmost importance for more positive moves above $51,120 and the possibilities of getting back to the breakout attempt at $51,800 could emerge for the next few sessions, and even extend above $52,000.

If buyers fail with their positive moves above $50,800 and $51,240 the downside created by sellers could come back below $50,800 and $50,660.

Follow the buyers in their attempts for positive evolutions above the $50,500, which will be of extreme importance for the next sessions.

Resistances: U$ 50,583 // U$ 50,942 // U$ 51,224 // U$ 51,583.

Supports: u$ 50.225 // u$ 49.790 // u$ 49.421 // u$ 49.030.

https://www.tradingview.com/x/S7uUBrAo/

Technical indicators: H1

RSI: The RSI on BTC's H1 chart timeframe is at level 27 and with a bullish bias.

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

MACD: The MACD on BTC's chart time is at the positive level 51 with small bearish bias.

https://www.tradingview.com/x/qY6WXIXF/

OBV: The OBV on BTC's H1 chart time is at the 1.042 level and with small bearish bias.

https://www.tradingview.com/x/oAe3hNUx/

M5 chart:

Bitcoin price follows above the BB centerline and the Ichimoku Cloud, but below the VWAP.

Bitcoin price needs to break through the resistance of $50,500 to continue its positive developments above $51,000 and go for the attempted break of $51,800.

Buyers continue with good developments above U$50,220.

Resistances: U$ 50,388 // U$ 50,493 // U$ 50,558 // U$ 50,640.

Supports: $ 50,201 // $ 50,114 // $ 50,029 // $ 49,923.

https://www.tradingview.com/x/Y9kCrZwt/

BTC dominance 60.70

" To know oneself is the greatest knowledge. " ----- Galileo Galilei

Continue to follow my analysis through Tradingview as well:

https://br.tradingview.com/chart/BTCUSDT/xutOL1w0/

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 307