Bitcoin Price Evolution Analysis 03.22.2021

by CSM TRADER                                                                                                                

 nº317

 BTC price U$ 57.216.  

BTC price at Braziliex R$ 318.017.

USD/BRL price R$ 5.49. 

Price EUR/BRL R$ 6.53.

Price Gold 1g R$ 308.03.

Good morning to all readers.

Bitcoin price is still in a downtrend below the U$ 58,000 price area and the EMAS 50 and 100 (H1).

Bitcoin price this weekend 20/21/03.2021 went into negative corrections after it tried to break through the resistance of U$60,000, reaching in the up to the U$59,880 price area.

In the case mentioned above, the Bitcoin price came to correct negatively downwards from the U$58,000, U$57,000 and U$56,000 price areas where it even tested the U$55,450 price area.

After making a slightly higher bottom which was at the price area of U$55,400 and the lowest was at the price area of U$54,120, the price of Bitcoin returned with its positive developments upwards from the price areas of U$56,000 and U$57,000, where this time it came to test only the price area of U$58,112 and again failed to give the bullish continuity above this price area and entered into negative corrections up to the price area of U$56,289.

Now at the time of writing the Bitcoin price has just broken through the U$58,000 price area and is above the U$58,200 price area.

The Bitcoin price needs to provide is continued consolidations and positive developments above U$58,000 and U$58,220 for the next few sessions.

It will be necessary for the Bitcoin price for the next few sessions, the continuation of positive advances above the 100 EMA (H1) and with that the possibilities of a breakout in the $59,000 price area could occur and positively advance above $59,320.

If the Bitcoin price fails to continue upwards from the $58,780 and $59,000 price areas, the negative corrections could arise again and go below the $58,220 and $57,800 price areas where the possibilities of a pullback below the $57,000 price area could occur.

Only a good and consolidated advance above $59,220 for the Bitcoin price to get back to its positive developments for the attempts of a new breakout in the price area of $60,000 and it will still be necessary for the Bitcoin price to always stay above the EMA 100 (H1) to not have serial corrections below it.

A daily close was made below the price area of $57,400.

For today a good daily close would be above the $58,120 price area.

Ideally, a close above $58,500 would be ideal.

Buyers have regained control of the situation after sellers managed to drive the Bitcoin price up to the $55,450 price area.

Buyers remain in control of the situation now at the time of writing above the U$58,000 price area.

It will be of utmost importance for buyers to continue consolidations above the U$57,880 and U$58,000 price areas for the possible positive developments above the U$58,500 and U$58,760 price areas and with that the possibilities of positive advances above U$59,000 could occur.

In the case mentioned above, if buyers get a good, consolidated positive advance above $59,000 the chances of breakout attempts into the $60,000 price area could occur.

Buyers need to be very careful not to miss and leave a double top in the $59,800 price area.

They need to break through this price area and extend above the $60,220 price area, lest they run the danger of the sellers getting in control of the situation and creating the downside that could extend below the $59,000, $58,000 and even go below the $57,500 price area again, and could even go lower than the last bottom formed at $57,020.

Buyers are still trying to continue positive moves above the $58,320 price area, where moves above $58,500 will be of extreme importance for buyers in the short term.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price today at Braziliex, continues in an uptrend above the R$ 315,000 price area.

The Bitcoin price at Braziliex this weekend 20/21.03.2021, was in the price areas of R$ 325,000 and R$ 329,900; where it tried the breakout upwards from the price area of R$ 330,000; but came to fail and went into negative corrections downwards from the price areas of R$ 325,000 and R$ 318,000, even testing the price area of R$ 316,000.

Now at the time of writing the Bitcoin price on Braziliex is tracking in the R$318,504 price area.

It will be necessary and important for the Bitcoin price at Braziliex of its continuing consolidations and positive developments upwards from the R$ 320,000 price area so that further consolidations can be made above R$ 324,000.

If the Bitcoin price on Braziliex achieves the necessary breakthroughs above the R$326,000 price area and stabilizes with its consolidations above this price area; the possibilities of breakout attempts back into the R$330,000 price area could occur.

If the Bitcoin price fails in its positive evolutions above the R$ 326,000 and R$ 329,600 negative corrections could return below the R$ 324,000 and R$ 321,600 price areas where a stop above the R$ 320,000 price area would be of utmost importance so that the Bitcoin price does not continue negative corrections below the R$ 318,000.

Buyers on Braziliex are regaining control of the situation above the R$317,500 price area.

It will be important for buyers on Braziliex to continue positive developments above the $320,000 level in order to move out of a risk area of further downside below the $316,000 level.

Buyers on Braziliex need to continue positive developments above the R$320,000 and R$322,000 in the near term so that further consolidations can be made above these price areas and with that the possibilities for positive advances above the R$326,000 could emerge.

If buyers in Braziliex fail to make such advances above the R$320,000 and R$322,000 in the short term, sellers could take advantage of the exhaustion of buyers to take control of the situation and create the downside again which could go back below the R$318,000 where buyers will have to stop sellers from taking further losses below this price area.

Only a good and consolidated advance of buyers above R$ 322,000 to get out of a risk area.

Follows the buyers in the "fight" with the sellers for the attempts of evolutions above the R$ 320,000.

Resistances: R$ 319,253 // R$ 321,021 // R$ 322,691 // R$ 324,066. 

Supports: R$ 317,989 // R$ 317,040 // R$ 315,992 // R$ 314,932.

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

H4 chart:

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

The Bitcoin price needs to continue positive advances back above the $58,000 price area for the next few sessions.

It will be important for the Bitcoin price to stay above the EMA 20 so that negative downward corrections to the $57,500 price area do not occur again.

Buyers follow with the Bitcoin price in the $57,800 price area, where they will have to continue consolidations and positive developments above the $57,700 and $58,000 price areas to return to attempts to break through the strong resistance of $58,500.

If buyers fail to make these moves above $58,500 the downside moves made by sellers will appear and extend below $57,600 and $57320.

Only a good and strong advance by buyers above the BB centerline to give the sequence of positive evolutions above $58,500.

Buyers continue to present difficulties in returning to positive advances above $58,000.

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

Resistances: U$ 57.916 // U$ 58.538 // U$ 59.205 // U$ 59.850.

Supports: U$ 57.233 // U$ 56.608 // U$ 55.906 // U$ 55.338.

https://www.tradingview.com/x/fa0PQXxP/

H1 Chart:

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

The Bitcoin price needs to continue above the EMA 100, so that consolidations and positive developments of continuing upwards the price areas of $58,220 and $58,500 and possibilities of positive advances upwards of $59,000 can emerge.

If the Bitcoin price enters negative corrections below the 100 EMA, downside could proceed below the 50, 5 and 20 EMAs as they are all together and with that the negative corrections could extend below the $57,000 price area.

Buyers still remain in control of the situation, but still need a good positive advance above the $58,000 and $58,500 price areas to get out of a risky near-term area of downside created by sellers.

In the case mentioned above, sellers will be able to create the downside below the $57,220 and $57,000 price areas, where buyers will have to try to stop sellers above these price areas in order to stay out of trouble below $56,800.

Follow the sellers in an attempt to keep the Bitcoin price above the U$57,500 price area.

Resistances: U$ 57,838 // U$ 58,139 // U$ 58,415 // U$ 58,619.

Supports: $57,563 // $57,288 // $57,038 // $56,833.

https://www.tradingview.com/x/DYVDRXe6/

Technical indicators: H4

RSI: The RSI on the H1 time chart of BTC is at the 50 level and stabilized.

https://www.tradingview.com/x/Li5FgSzf/

MACD: The MACD on BTC's H1 chart time is at the negative -80 level and stabilized.

https://www.tradingview.com/x/ULuHQQN0/

OBV: The OBV on BTC's H1 chart time is at the 2.26 level and stabilized.

https://www.tradingview.com/x/FWc8BF5Z/

M5 chart:

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

Bitcoin's price would need to stay above the VWAP to avoid serious downside corrections below the $57,500 and $57,000 price areas.

Buyers failed with positive advances upwards of $58,220 and $58,500 and sellers got into control of the situation where now at the time of writing they are following with the Bitcoin price in the $55,456 price area.

Buyers need at all costs to bar sellers above the $57,000 price area if they are not to have downside downside down to $56,500 and $55,720.

https://www.tradingview.com/x/FWc8BF5Z/

Dominance of the 60.78%

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nº317