Bitcoin Price Evolution Analysis 03.25.2021
by CSM TRADER
nº320
BTC price U$ 52.600.
BTC price at Braziliex R$ 302.99.
Price USD/BRL R$ 5.62.
Price EUR/BRL R$ 6.63.
Price Gold 1g R$ 308.72.
Good morning to all readers.
Bitcoin price is still in a downtrend below the price area of $53,500.
The price of Bitcoin after a few past sessions, i.e. at 10:00 am (Brazilian time), came to test the price area of U$ 57,200 and could not give the continuity of positive developments above it, and with that came strong corrections.
In the case mentioned above, the price of Bitcoin began its negative corrections at 10:00 am and ended these negative corrections at 7:00 pm, that is, more than 8 hours of negative corrections, where it advanced below the price areas of U$ 56,000. U$ 55,000, U$ 54,000, U$ 53,000, U$ 52,000 and testing the U$ 51,499 price area.
Now at the time of writing the Bitcoin price is tracking in the U$52,778 price area, where it attempts the positive advances upwards from the U$53,320 price area.
It will be important for the Bitcoin price to achieve the necessary consolidations above the $52,000 price area and thereby still achieve the necessary advancements upward to the $53,500 price area.
In the case mentioned above, if the Bitcoin price does not achieve the necessary advances and consolidations above the U$53,500 and U$54,000 price areas for the next few sessions, the negative corrections will appear again and this time could go below the U$52,220 and U$51,360 price areas and still go for a test in the U$49,660 price area.
In the medium term the Bitcoin price could still go in search of the $45,000 price area.
Only a good, consolidated advance in the Bitcoin price above the 200 and 5 EMA, so that positive developments can give the sequences of positive advances upwards to the price area of U$53,300 and U$53,550.
A daily close was made below the $52,452 price area.
For today a good daily close would be above the $54,500 price area, for attempts to invalidate the continuing downward corrections, which could still go below $48,000 in the medium term.
Sellers remain in full control of the situation below the $55,000 price area.
Buyers have not been able to continue positive developments above the $57,200 price area, and with that, sellers have come in strong control of the situation and have begun to create the downside below the $57,000, $55,000 and $52,000 price areas, where buyers have been able to hold sellers back in the $51,499 price area.
Now at the time of writing buyers are in attempts at positive advances upwards from the $53,000 price area, where an advance above $53,500 in the near term will be paramount to begin to move out of a risk area of further downside created by sellers.
In the case mentioned above, only a good positive advance by buyers and further consolidations above the $54,220 price area will be paramount to get out of a risk area of further downside.
The most important thing for buyers right now would be to evolve Bitcoin's price above $54,780 in the short term; but it seems that these evolutions are difficult to occur at the moment.
If buyers fail to attempt positive advances above the $53,300 and $53,860 price areas, the downside created by sellers could come back with force and extend below $52,600 and $52,000, where a test or even negative advances below $51,800 could arise again.
Buyers continue to attempt positive moves above $53,000.
Bitcoin TODAY at Braziliex: H1
Bitcoin price today on Braziliex, continues in a downtrend below the R$ 310,000 price area.
Bitcoin price at Braziliex failed to make the sequence of positive developments upwards from the price areas of $ 315,000 and with that, came the negative corrections downwards from the price areas of $ 310,000 and $ 306,000, where these negative corrections went as far as to form a new bottom in the price area of $ 296,402.
Now at the time of writing, the price of Bitcoin on Braziliex is in the R$ 302,999 price area.
It will be of utmost importance that the Bitcoin price on Braziliex continues its sequence of positive advances above the R$300,000 price area for the upcoming sessions.
In the case mentioned above, the Bitcoin price on Braziliex will need to stay above the R$300,000 and continue consolidations above it, so that the negative corrections do not extend below the R$298,000 and R$296,600 price areas, where the possibilities of continuations of these negative corrections could test the R$294,800 and R$292,220 price area.
Only a good, consolidated and strong advance above the Ichimoku Cloud or even the R$ 310,000, for the Bitcoin price on Braziliex to get out of a risk area of continuing negative corrections to below the R$ 300,000 in the short term.
Sellers at Braziliex remain in control of the situation below the R$ 310,000 price area.
It will be necessary for buyers at Braziliex to make a good advance above the R$306,600 and R$310,000 price areas for the next few sessions so that they can begin to regain control of the situation, and still be able to evolve the price of Bitcoin at Braziliex above R$312,220, where a good consolidation above this price area will be very important for the continuation back to positive evolutions above it.
If buyers fail with their positive developments with the Bitcoin price on Braziliex, the downside created by sellers will reappear below the R$306,000 and R$303,220, where further downside below the R$300,000 could occur if buyers fail to bar sellers above this price area.
Follow the buyers on Braziliex in an attempt to evolve the Bitcoin price on Braziliex above the R$305,000 price area.
Resistances: R$ 305,556 // R$ 307,584 // R$ 309,515 // R$ 310,964.
Supports: R$ 302,273 // R$ 300,040 // R$ 298,410 // R$ 296,479.
https://www.tradingview.com/x/Sep5UubK
H4 chart:
Bitcoin price is tracking below the EMAs and well below the Ichimoku Cloud.
Bitcoin's price is failing to evolve above the $53,000 price area.
The possibilities of continued downward corrections below $52,220 could arise and still continue below $52,000 and $51,500, where these downward corrections could extend below $50,800.
Only a strong advance above $53,000 and $53,300, or above the 200 EMA, for the Bitcoin price to attempt to continue positive developments above $53,500 and $54,000.
Buyers are having great difficulty and showing signs of exhaustion in moving beyond the U$53,000 and U$53,300 price areas.
Sellers remain in control of the situation and continue to make it difficult for buyers to move above $53,000.
Only a good strong buyers' advance above the $53,000 and $53,500 price level will get them out of a risk area of more downside risk created by sellers, which could still extend below $52,000.
Even with buyers making advances above $53,000, it will be very important that they are able to keep the price of Bitcoin in consolidations above this price area.
Follow the buyers in an attempt to bar sellers above the $52,000 price area so they don't have further downside below $52,000 and $51,500.
The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only some adjustments will be made.
Resistances: U$ 52,508 // U$ 53,342 // U$ 53,991 // U$ 54,640.
Supports: u$ 51.456 // u$ 50.664 // u$ 49.735 // u$ 48.875.
https://www.tradingview.com/x/NAGaitIl/
H1 Chart:
Bitcoin price follows below the EMAs and below the Ichimoku Cloud.
The price of Bitcoin continues with downward corrections below the $52,000 price area.
These downside corrections could still extend down into the $51,220, $51,000, and $50,500 price areas where the possibilities of advancing below $48,660 could arise.
Sellers remain in full control of the situation and are increasingly driving the price of Bitcoin down below the U$53,000 price area where it could be a refuge above this price area for buyers in the short term.
Now at the time of writing sellers are pricing Bitcoin in the U$51,340 price area.
It will be important now for buyers attempts to bar sellers above $51,000, as below this price area sellers will gain even more strength where they can extend these downside below $50,500 and $50,000.
Follow the buyers in an attempt to bar sellers above U$51,000.
Resistances: U$ 51,788 // U$ 52,374 // U$ 52,938 // U$ 53,565.
Supports: U$ 50,928 // U$ 50,127 // U$ 49,302 // U$ 48,431.
https://www.tradingview.com/x/wIjGXL0j/
Technical indicators: H4
RSI: The RSI on the H1 chart timeframe for BTC is at level 3 and with a bearish bias.
https://www.tradingview.com/x/e0AJYAGf/
MACD: The MACD on BTC's H1 chart time is at the negative -1300 level and has a bearish bias.
https://www.tradingview.com/x/N2ooHpHn/
OBV: The OBV on BTC's H1 chart time is at the 2.18 level and has a bearish bias.
https://www.tradingview.com/x/7UEK49Dq/
M5 chart:
Bitcoin price is tracking below the BB centerline, below the VWAP and below the Ichimoku Cloud.
Bitcoin price is having its downside corrections below the $51,800 price area.
The Bitcoin price could still continue these negative corrections down the $51,000 and $50,500 price areas where possibilities for breakthroughs below $49,600 could arise.
Follow the sellers with the Bitcoin price in an attempt to create the downside below $51,000.
https://www.tradingview.com/x/DTNRZa97/
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nº320
