Bitcoin Price Evolution Analysis 03.19.2021

by CSM TRADER                                                                                                                

 nº316

 BTC price U$ 58.324.  

BTC price at Braziliex R$ 331,000.

USD/BRL price R$ 5.56. 

Price EUR/BRL BRL R$ 6.61.

Price Gold 1g R$ 309.01.

Good morning to all readers.

Bitcoin price continues in an uptrend above the $56,500 price area.

A new weekly high has formed in the U$60,130 price area.

The price of Bitcoin a few sessions ago after an attempt to break through the $60,220 price area where it came up short, and with that came negative corrections downward from the $58,000, $57,000 and even testing the $56,270 price area.

After this correction up to the U$56,270 price area, the Bitcoin price began to gain buying strength and began its positive developments upwards from the U$57,000 and U$58,000 price areas, and most importantly, above the EMA 50 (H4).

Now at the time of writing the Bitcoin price is tracking in the U$58,416 price area.

In the case mentioned above, the Bitcoin price needs to give its continued consolidations and positive developments above the U$57,500 price area or even above the EMA 20 (H4) so that developments above U$59,220 and U$59,740 can occur.

If the Bitcoin price were to fail to make positive advances above U$59,000 and U$60,000 for the next few sessions, negative corrections could emerge and extend back below the U$58,220 and U$57,500 price areas.

A stop above the $56,600 price area would be very important, so that the Bitcoin price does not move negatively below $56,000, as below $56,000 the corrections could gain more strength and extend below $55,500.

Only a good, strong and consolidated positive advance for the Bitcoin price above the price areas of U$ 59,500 and U$ 60,320 for the possibilities of continued positive advances above U$ 61,500, where the possibilities of a new ATH could happen, for the next sessions.

A daily close was made above the $57,544 price area.

For today the continuation of a daily close above the $57,500 price area would be very important.

Ideally, a daily close above the $58,340 price area would be very important.

Buyers managed to make a new weekly high where they were able to test the $60,130 price area.

Buyers failed to continue above $60,130 and sellers took control of the situation, driving the Bitcoin price up to the $56,270 price area.

Buyers have regained control of the situation and are now following at the time of writing with the Bitcoin price above the U$58,404 price area.

It will be of utmost importance for buyers to continue consolidations and positive developments above the U$57,000 and U$57,500 price areas for possible developments above U$59,220 and U$59,500.

If buyers fail to keep the Bitcoin price above $57,500, sellers could gain strength below $56,800 and with that give the downside sequence below $56,500 and $56,000.

In the case mentioned above buyers will have to hold sellers back above the $56,000 price area because below this price area the downside created by sellers could extend below $55,500 and $55,000.

Only a good positive move by buyers above $58,960 and $59,500 will take them out of a risk area of possible losses below $57,800.

Buyers continue with good attempts at positive developments above the $58,440 price area.

Bitcoin TODAY at Braziliex: H1

Bitcoin price today on Braziliex continues in an uptrend above the R$ 320,000 price area.

The price of Bitcoin at Braziliex a few sessions ago, gave the continuity of consolidations between the price areas of $ 320,000 and $ 326,000, and with that, gained strength to give the continuity of positive advances upwards from the price areas of $ 332,500 where it reached to test price area of $ 335,000.

Now at the time of writing the price of Bitcoin on Braziliex follows in the price area of R$ 325,062.

It will be of extreme importance for the price of Bitcoin on Braziliex its continued consolidations and positive developments above the R$ 320,000 price area.

If the Bitcoin price on Braziliex comes with the negative corrections downwards from the price areas of R$ 320,000 and R$ 318,600, the possibilities of continuities of these negative corrections below the R$ 316,800 could arise.

Only a turn above the R$ 330,000 and with the necessary consolidations above this price area, for the Bitcoin price on Braziliex to return to attempts at a breakout in the R$ 342,220 price area.

Buyers on Braziliex remain in control of the situation above the R$320,000 price area.

It will be necessary for buyers on the Braziliex to continue consolidations and positive moves above the R$322,000 price area.

If the buyers fail to keep the Bitcoin price on Braziliex above the $320,000 price area, the sellers on Braziliex will get into control of the situation and with that, they can create the downsides to below the $318,600 and $316,500 price areas.

Follow the buyers on Braziliex in an attempt to get back the positive developments above the R$ 330,000.

Resistances: R$ 327,102 // R$ 332,142 // R$ 335,068 // R$ 337,994. 

Supports: R$ 324,932 // R$ 320,950 // R$ 318,186 // R$ 314,772.

https://www.tradingview.com/x/61Qr50Lt

H4 chart:

Bitcoin price is tracking above the EMAs and almost protruding above the Ichimoku Cloud.

It will be important for the Bitcoin price to continue positive developments above the Ichimoku Cloud because the odds of continued positive advances above it will be high.

If the Bitcoin price returns to negative corrections, it should stay above the EMA 50 (gray line), as below it, negative corrections could continue below the $57,120 price area.

A good positive advance for the Bitcoin price above the $59,220 price area will be important for the coming sessions.

Buyers remain in control of the situation and want continued positive advances above the $59,000 price area.

Buyers are having trouble in the near term with advances above $58,950. It will be extremely important to break out of this price area because if buyers become exhausted by attempts to advance above $59,000, sellers will take control of the situation where they can create the downside of the $58,320 and $58,120 price areas.

Buyers will have to keep the Bitcoin price above the EMA 20 to avoid further losses from the sellers.

Follow the buyers in the "battle" with the sellers for positive evolutions back above U$59,000.

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$ 58,867 // U$ 59,835 // U$ 60,665 // U$ 61,588.

Supports: u$ 58,083 // u$ 57,207 // u$ 56,147 // u$ 54,948.

https://www.tradingview.com/x/gDrV6Mxh/

H1 Chart:

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

Bitcoin price continues its good consolidations above the price area of $57,660 and $58,000.

The Bitcoin price needs to hold above the EMA 5 to continue positive developments above the U$58,888 price area, and with that, breakout attempts in the triangle could occur.

Of extreme importance this breakout in the triangle for the Bitcoin price to continue its attempts to rise above the price area of U$ 59,000.

If the Bitcoin price fails to break out of the triangle or even if it is a False breakout, the downside corrections will appear and, where they may return below the $58,500 and $58,220 price area.

The Bitcoin price needs to stay above the EMA 100 in order not to have downside corrections below it.

Buyers remain in control of the situation and are continuing consolidations above the $58,220 price area.

It will take a good advance by buyers above the $59,120 price area if they are not to exhaust themselves.

In the case mentioned above, if buyers do go into exhaustion from attempts to break through the $59,000 price area, sellers will take control of the situation and where they will create the downside below $58,500.

Buyers still need to continue positive developments above $59,500 for attempts to test above the $60,220 and $60,500 price area.

Follow the buyers on the breakout of the triangle.

Resistances: U$ 59,293 // U$ 59,701 // U$ 60,212 // U$ 60,661.

Supports: u$ 58.804 // u$ 58.324 // u$ 57.828 // u$ 57.349.

The chart is the same as yesterday's with the changes in supports and resistances; to get a parameter of the triangle break just made. It will be necessary the continuity of positive advances in the Bitcoin price above the triangle to evolve above $59,000.

https://www.tradingview.com/x/GZ2LPppb/

Technical indicators: H1

RSI: The RSI on the H1 chart timeframe for BTC is at the 100 level and with a bullish bias.

https://www.tradingview.com/x/0NUCabY6/

MACD: The MACD on BTC's H1 chart time is at the 212 level and has a bullish bias.

https://www.tradingview.com/x/ULumib9m/

OBV: The OBV on BTC's H1 chart time is at the 1.11 level and has a bullish bias.

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

M5 chart:

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

Continued positive developments in Bitcoin price above $58,780 and $59,000 will be important for the coming sessions. The consolidations above these price areas will be very important and necessary for the Bitcoin price to continue its positive developments above the price areas of $59,220 and $59,360, where it will need to break again the strong resistance of $59,500 to continue with the developments above $61,220.

The buyers continue with the positive developments above $59,000.

https://www.tradingview.com/x/aGP2MWBV/

Dominance of the 61.73%

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nº316