Bitcoin Price Evolution Analysis 03.15.2021

by CSM TRADER                                                                                                                

 nº312

 BTC price U$ 56.050.  

BTC price at Braziliex R$ 321,000.

USD/BRL price R$ 5.55. 

Price EUR/BRL BRL 6.62.

Price Gold 1g R$ 305.17.

Good morning to all readers.

Bitcoin price is still trending downwards, below the price area of $58,000.

The price of Bitcoin this weekend 13 and 14/03 even made new historical tops where it reached its maximum price in the area of U$ 61,845.

The Bitcoin price after the new ATH was again trying to make another new historical top, but this time it failed to continue the positive advances upwards from the new ATH at U$61,845, and started its negative corrections downwards from U$61,000.

There were some attempts of positive advances upwards from the price area of $60,700, but without success, and with that, they gave the continuities of sequences of negative corrections downwards from the price areas of $60,000, $59,000, $58,000, $57,000, $56,000 and $55,000, even testing the $54,597 price area.

Now at the time of writing, the Bitcoin price follows in the price area of U$ 55,166 and struggles to get back above the 200 EMA (H1) to try the return of positive evolutions above the U$ 55,500 price area, which in the short term seems that this evolution will not be so simple.

If the Bitcoin price does not get its positive evolutions above the EMA 5 (H1) in the short term, the negative corrections could still follow below the price areas of $55,000 and $54,500 where they could still extend to the price area of $53,120.

These downward corrections are always welcome to adjust the chart and return the bullish continuity to the new top formed; in this case it would be a new top above $64,220.

A daily close was made above the price area of $58,976.

For today it would be important to close at least above the $57,500 price area.

Buyers managed to make a new historic top with the price of Bitcoin, where they reached the price area of $61,845.

The buyers failed to continue the positive developments upwards ATH and started to weaken, where the sellers got into control of the situation and created the downside important supports.

Sellers even tested the $54,597 price area.

Sellers remain in control of the situation where they are holding Bitcoin's price below the $57,000 price area.

It will be necessary for buyers to make good positive advances above the U$56,800 and U$57,320 price areas for the return of consolidations above this price area, and with that, the possibilities of positive advances above U$58,000 could occur for the next few sessions.

Only a good, consolidated advance by buyers above the EMA 100 (H1) for a possible full resumption of control of the situation.

Follow the buyers in the difficult attempt to evolve the price of Bitcoin above the price area of U$57,000.

Bitcoin TODAY at Braziliex: H1

The price of Bitcoin at Braziliex this weekend 13 and 14/03, made another historical top in Brazil, where it reached the price area of R$ 345,010.

The Bitcoin price at Braziliex went into exhaustion for attempts to continue positive evolutions upwards from the R$ 340,000 and return the attempts to evolve upwards from ATH where it went into negative corrections downwards from the price areas of R$ 339,000, R$ 335,000, R$ 320,000 and R$ 319,000, even testing the price area of R$ 313,600.

Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$318,999 price area.

It will be necessary for the Bitcoin price on Braziliex to continue its consolidations and positive developments upwards from the price area of R$ 315,600 and R$ 316,000, because if the Bitcoin price fails to resume positive advances upwards from R$ 324,220 for the next few sessions, the negative corrections may arise again, and with that, it may return below the R$ 319. 000 and R$ 318,000, where it could still extend below R$ 316,000, but the Bitcoin price needs to stay above the last bottom formed in the R$ 313,600 price area because below this price area the negative corrections could be much larger below R$ 310,000.

Buyers on Braziliex have made a new historic top with the Bitcoin price reaching the R$345,010 price area.

Buyers went into exhaustion over attempts to evolve the Bitcoin price back above the R$342,000 price area.

In the case mentioned above, the buyers lost control of the situation where the sellers at Braziliex took control of the situation in the area and price of $338,500 and it follows until this moment of writing below the price area of $317,000.

Only a good, consolidated move by buyers upwards from the R$322,400 price area will begin to get them out of a risky area that is holding the Bitcoin price on Braziliex below R$320,000 in the short term.

If the buyers fail to evolve the Bitcoin price above $320,000 for the next few sessions, the sellers will give the downside sequence to below $314,000 where they could extend these to below $312,000.

It follows the buyers in an attempt to bar the sellers above the R$ 315,600 price area, and they will still have to attempt the positive developments above R$ 320,000 in the near term.

Resistances: R$ 319,000 // R$ 321,202 // R$ 323,255 // R$ 325,992. 

Supports: R$ 316,046 // R$ 313,496 // R$ 311,132 // R$ 308,644.

https://www.tradingview.com/x/1OOS0hCp

H4 chart:

Bitcoin price follows above the EMAs 50, 100 and 200 and above the Ichimoku Cloud, but below the EMAs 20 and 5 and below the BB centerline, however a test below the EMA 100 has already been made, where the possibilities of a retest could be expected.

Bitcoin's price follows above the EMA 50 and to continue positive developments for the next sessions and move above the $57,000 price area, it will have to stay in consolidations and supported above the EMA 50, because below it negative corrections could happen again below the EMA 50 and follow below the $56,000 and $55,220 price areas.

Buyers are in a very delicate situation as they need to keep the Bitcoin price above the EMA 50 in order not to have further disadvantages with sellers below it.

Buyers continue to attempt positive developments above the EMA 50.

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$ 56,202 // U$ 57,050 // U$ 57,968 // U$ 58,754.

Supports: u$ 55,284 // u$ 54,507 // u$ 53,560 // u$ 52,294.

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

H1 Chart:

Bitcoin price follows below the EMAs and below the Ichimoku Cloud.

The price of Bitcoin continues in strong negative corrections below the price areas of $57,000 and $56,000.

Only a good advance above the 200 and 5 EMA for the possibilities of positive advances above $57,000 to occur again.

But now for the next few sessions it looks like the Bitcoin price will continue its corrections downwards from the $54,500 and $54,120 price areas, where a test at the $53,500 price ridge could occur.

Sellers follow their downside down from the $56,000 price area now at the time of writing, and are going for the $54,500 price area.

Buyers will have to bar sellers above the $54,000 price area in order not to have further downside below $53,500 and $53,120.

It follows sellers creating their downside to below the U$55,500.

Resistances: U$ 55,812 // U$ 56,283 // U$ 56,606 // U$ 57,032.

Supports: $55,150 // $54,562 // $53,988 // $53,356.

https://www.tradingview.com/x/7cwWfvJM/

Technical indicators: H1

RSI: The RSI on the H1 chart timeframe for BTC is at the 13 level and with a bullish bias.

https://www.tradingview.com/x/S3umV472/

MACD: The MACD on BTC's H1 chart time is at the negative -1022 level and has a bearish bias.

https://www.tradingview.com/x/nd7BwWbC/

OBV: The OBV on BTC's H1 chart time is at the 1.08 level and has a bearish bias.

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

M5 chart:

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

Only a good, consolidated advance by buyers above the Ichimoku Cloud to get out of a large risk area of further downside created by sellers.

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

Dominância do BTC   62.77  %

“ Se você acha que a instrução é cara, experimente a ignorância.” Derek Bok

Continue acompanhando minha análise também pelo Tradingview:

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nº312