Bitcoin Price Evolution Analysis 03.18.2021

By CSM TRADER | CSM TRADER | 18 Mar 2021

Bitcoin Price Evolution Analysis 03.18.2021

by CSM TRADER

nº315

BTC price U$ 58.540.

BTC price at Braziliex R$ 325.012.

USD/BRL price R$ 5.58.

Price EUR/BRL R$ 6.66.

Price Gold 1g R$ 314.11.

Good morning to all readers.

Bitcoin price is still in an uptrend above the $57,000 price area.

Bitcoin price in the past sessions, was in strong consolidations between the price areas of U$ 54,500 and U$ 55,300, where it started its positive developments upwards to the price areas of U$ 55,500, U$ 56,000, U$ 57,000 and even testing the price area of U$ 59,562.

Now at the time of writing the Bitcoin price is tracking in the U$58,418 price area.

The Bitcoin price has failed to break through the resistance in the U$59,500 price area.

It will be important and necessary for the Bitcoin price to break through the $59,500 price area in order to continue positive advances upwards from the $60,000 and $60,500 price areas, possibly a test of the $61,220 price area could occur.

Only with the necessary consolidations above the U$61,420 price area can the Bitcoin price attempt to break through the ATH at the U$61,844 price area.

If the Bitcoin price fails to provide continued positive developments upwards from the U$60,000 and U$60,500 price areas negative corrections will appear, and with that the possibilities of negative advances downwards from the U$58,500 and U$58,000 price areas may arise.

It will be necessary for these negative corrections to stop above the U$57,220 price area, because below this price area a search for the lower U$57,000 and U$56,760 price areas could happen.

Bitcoin's price for the next few sessions needs to hold above the EMA 50 (H4).

A daily close was made above the U$58,902 price area.

For today a good and necessary daily close would be above the $59,500 area.

Ideally, it would be above the $60,120 price area as a daily close below $57,500 could continue the negative corrections downward from the $57,220 and $56,800 price areas.

Buyers have regained control of the situation above the $57,000 price area, and with that, continued positive developments upward from the $58,000 and $59,000 price areas.

Buyers have failed to break above the $59,500 price area and remain in consolidations with the Bitcoin price above the $57,500 price area for possible breakout attempts above the $59,500 resistance.

If buyers for the next few sessions can make the positive advances above the $59,500 and $60,000 price areas, the possibilities of a continuation up to the $60,500 price area could occur.

Only a good, consolidated buyers' advance above the $60,700 price area for the continuation of positive moves above $61,500, and attempts at a new ATH above the $61,844 price area could be on the way.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price at Braziliex today continues in an uptrend above the R$ 322,000 price area, where it has even tested the R$ 331,998 price area.

After the negative corrections occurred where they reached up to the price area of $ 309,000, the price of Bitcoin on Braziliex began a positive "climb" upwards from the price areas of $ 315,000 and $ 325,000 and reaching the price area of $ 331,998.

Now at the time of writing the Bitcoin price on Braziliex is tracking in the R$ 326,999 price area.

It will be of utmost importance that the Bitcoin price on Braziliex stays in consolidations above the R$328,000 price area, so as not to have the negative corrections back down below R$324,500, where it seems to have made good support building.

Only a good positive breakthrough and with new consolidations above the R$ 330,000 price area for the Bitcoin price can give its follow-up of positive evolutions above R$ 340,000.

If the Bitcoin price fails to give the continuation of positive advances above the R$332,000 the negative corrections below the R$328,500 and R$325,000 price areas could arise, where the Bitcoin price on Braziliex needs to stop above the R$324,500 to not extend these negative corrections below the R$320,000 and R$318,600.

Buyers on Braziliex remain in control of the situation with the Bitcoin price above the R$ 322,000 price area.

Buyers at Braziliex need to continue consolidations and positive developments above the R$324,000 price area.

If the buyers on Braziliex go into exhaustion for attempts to move beyond the R$330,000 price area for the next few sessions, the sellers on Braziliex could get in control of the situation and with that begin to create the downside downside to the R$328. 000 and R$325,000 where buyers on Braziliex will have to stop the sellers above the R$324,000 as below this price area the sellers on Braziliex will gain more strength and may extend these downside downwards into the R$322,500 and R$320,000 price areas.

Follow the buyers at Braziliex in an attempt to evolve the Bitcoin price at Braziliex above the R$328,000 price area.

Resistances: R$ 328,740 // R$ 331,933 // R$ 334,049 // R$ 335,675.

Supports: R$ 327,036 // R$ 325,107 // R$ 322,938 // R$ 310,010.

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

H4 chart:

Bitcoin price follows above the EMAs, but below the VWAP and entering the Ichimoku Cloud at the top.

The price of Bitcoin after making a double bottom, has begun its positive "climb" upward out of the $57,000 and $59,000 price areas.

The Bitcoin price needs to continue its consolidations and positive moves towards the EMA 5 for the possible attempts that are getting lower and lower to move above $59,000, where the Bitcoin price still needs to break through the resistance in the $59,500 price area to continue its positive moves above $60,000 and $60,220.

If the Bitcoin price goes below the EMA 5 the chances of touching the EMA 20 will occur, and if it breaks below the EMA 20 the chances of negative corrections downwards from the U$57,220 and U$57,000 price areas could appear.

Only a good advance above the VWAP and on breaking out above the Ichimoku Cloud for the Bitcoin price to get its positive evolutions above $59,220.

Buyers are beginning to show difficulty in positive advances above the $58,500 and $59,000 price areas.

If buyers fail with these positive moves upward from the $59,220 price area for the next few sessions, sellers will take control of the situation where they can create the negative downside from the $58,500 and $57,260 price areas.

It follows the sellers pressuring the Bitcoin price below the $58,320 price area.

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$ 58,372 // U$ 59,235 // U$ 59,950 // U$ 60,708.

Supports: u$ 57,866 // u$ 57,045 // u$ 56,203 // u$ 55,530.

https://www.tradingview.com/x/Ph7PKEre/

H1 chart:

The Bitcoin price is tracking above the EMAs and entering the Ichimoku Cloud, and is tracking below the VWAP and the EMA 5.

The Bitcoin price needs to stay above the EMA 20 in order not to start having larger downward corrections for the next few sessions below the $57,000 price area.

Only a good advance of the Bitcoin price above the VWAP to get out of a risk area of continuing negative corrections.

Buyers are losing control of the situation below the U$58,500 price area.

It will be extremely important for buyers to make a strong advance above $58,500 and $59,000 to get out of a risk area of Bitcoin's price staying below $58,500 and into the green Ichimoku Cloud.

Buyers will have to bar sellers above the EMA 20 in order not to have major downside downside downside from the $57,220 and $56,800 price areas.

Follow the buyers as they attempt to stop the sellers above the EMA 20

Follow buyers in an attempt to bar sellers above EMA 20.

Resistances: U$58.688 // U$59.457 // U$60.227 // U$60.973.

Supports: u$ 57.731 // u$ 56.822 // u$ 56.029 // u$ 55.142.

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

Technical indicators: H1

RSI: The RSI on the H1 chart timeframe for BTC is at the 79 level and with a bearish bias.

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

MACD: The MACD on BTC's H1 chart time is at the 263 level and has a bullish bias.

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

OBV: The OBV on BTC's H1 chart time is at the 2.20 level and stabilized.

https://www.tradingview.com/x/vQPK0OXE/

M5 chart:

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

The Bitcoin price failed to continue its positive moves above $59,500 and $59,000 and now continues its negative corrections below the $58,000 and $57,880 price areas.

Only a good, consolidated advance above the $59,000 and $59,220 price areas will allow the Bitcoin price to return to attempts to break through the strong resistance of $59,500.

Buyers continue to try to stop sellers above the $57,500 price area, as below this price area sellers will gain more strength and could extend these disadvantages below $57,000 and $56,500.

https://www.tradingview.com/x/EgMFgf3x/

Dominance of the 61.40 %

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