Bitcoin Price Evolution Analysis 03.26.2021
by CSM TRADER
BTC price U$ 53.460.
BTC price at Braziliex R$ 309.970.
USD/BRL price R$ 5.64.
Price EUR/BRL R$ 6.66.
Price Gold 1g R$ 314.85.
Good morning to all readers.
Bitcoin price is still in an uptrend above the $51,500 price area and above the EMA 50 (H1).
The Bitcoin price a few sessions ago, after making a bottom in the price area of U$ 51,499, was trying to break through the price area of U$ 53,500, but failed in 3 attempts and gave the continuity of negative corrections below the U$ 51,499 and made a new bottom that reached the price area of U$ 50,427.
After a new bottom and with the necessary consolidations, the Bitcoin price started with its positive developments upwards from the U$ 52,500 and U$ 53,000 price areas.
Now at the time of writing, the Bitcoin price is tracking in the U$53,560 price area.
It will be of utmost importance that the Bitcoin price continues its consolidations and positive developments above the $53,150 price area in the near term.
The Bitcoin price needs for the next few sessions good consolidations and positive evolutions above the price area of $54,500, so that it can test or even surpass the price area of $55,220, to make a new top above this one which is in formation, that is, the Bitcoin price needs to continue its bullish trend above the price area of $52,500 so that it doesn't come back with its negative corrections to below the price area of $52,000 and $51,500.
A breakthrough above $56,600 would be important for a good top formation.
If the Bitcoin price fails to break through the resistance of $53,800, $54,500, or $55,000, the downside corrections could come back and extend below the $54,120 and $53,200 price area, where a break above the $53,150 price area will be very important, so that the Bitcoin price does not return to its downside corrections below $53,000 and $52,666.
Only a good, consolidated advance above the 100 EMA (H1) will allow the Bitcoin price to continue its positive developments in the coming sessions.
A daily close was made above the price area of $51,366.
For today a good and important close would be above the $52,500 price area.
Ideally, a daily close above the $53,360 price area would be ideal.
Buyers remain in control of the situation above the $52,000 price area.
Buyers still need a nice positive advance above the $54,000 price area in the near term.
It will be extremely important for buyers to break through the $53,800 resistance in the near term so that they can continue their positive moves above $54,120, where these positive moves could provide the continuation of positive advances above $54,500 and $55,000.
If buyers fail with their positive moves above $54,000 or even $55,000 negative corrections could appear, and with that, extend downwards again from the $53,500, $53,000 and $52,500 price areas, where buyers will have to fight with sellers to not let sellers get below $52,120 as the downside created by sellers could extend below $51,800.
Follow the buyers as they attempt to move above the $53,800 price area.
Bitcoin TODAY at Braziliex: H1
Bitcoin price today on Braziliex is still trending higher above the R$ 290,000 price area.
The Bitcoin price on Braziliex a few sessions ago failed to continue positive advances above the R$305,000 price area and came to correct downward from the R$300,000 price area where it tested the R$289,000 price area, thus a bottom was made lower than the previous one which was in the R$296,000 price area.
It will be important for the Bitcoin price on Braziliex to achieve consolidations above the R$300,000 price area for continued positive advances to the strong resistance of R$305,000, and it will still have to hold above this price area for further consolidations for attempts at positive developments above R$310,000.
If the Bitcoin price fails in the short term with these evolutions above the R$ 305,000 and R$ 308,600 the negative corrections could arise and with that extend below the R$ 302,500 and R$ 298,600.
Only a good and strong advance above R$ 310,000 for the Bitcoin price on Braziliex to get out of a risk area of further negative corrections.
Buyers at Braziliex are trying to regain control of the situation above R$300,000.
It will be necessary for buyers on Braziliex to continue consolidations and positive advances above the R$300,000 price area, as below this price area the sellers on Braziliex could again create the downside where it could extend below R$296,600.
Buyers will have to try to stop sellers above the $296,000 price area in order not to risk further downside below $292,800.
It follows the buyers on Braziliex with the Bitcoin price n the R$304,000 price area, where they will have to try the evolutions upwards of R$305,000 and R$308,000 in the short term.
Resistances: R$ 303,961 // R$ 307,109 // R$ 310,005 // R$ 312,620.
Supports: R$ 301,898 // R$ 299,563 // R$ 296,947 // R$ 293,678.
Bitcoin price is below the 100, 50, 20 and 200 EMAs, below the Ichimoku Cloud and still below the BB centerline, but still above the 5 EMA.
It will be of utmost importance that the Bitcoin price moves back above the EMA 5 because if it continues below the EMA 200 the downside corrections could extend below $52,500 and $52,120.
Buyers are losing control of the situation where they need to try to stop sellers above the $52,220 price area so that they do not have further downside created by sellers below this price area where they could still extend below $52,000.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistances: U$ 53,843 // U$ 54,540 // U$ 55,055 // U$ 55,719.
Supports: U$ 53,212 // U$ 52,448 // U$ 51,784 // U$ 51,169.
Bitcoin price is tracking below the 200, 100 and 50 EMA and below the Ichimoku Cloud.
The Bitcoin price needs to continue its consolidations and positive developments above $52,500 or above the EMA 20, lest the negative corrections below $52,000.
If the Bitcoin price continues negative corrections below EMA 20 and the BB centerline, these negative corrections could extend below the U$52,000 and U$51,880 price area.
Buyers still remain in control of the situation above the BB centerline, where they need to continue consolidations and positive developments above the BB centerline.
Buyers need to return with positive advances to the $53,000 price area, as below this price area they are at risk of the downside created by sellers extending below $52,000.
Follow the buyers in an attempt to defend the U$52,600 and U$52,500 price area.
Resistances: U$ 53,200 // U$ 53,540 // U$ 53,836 // U$ 54,152.
Brackets: U$ 52,660 // U$ 52,374 // U$ 52,057 // U$ 51,652.
Technical indicators: H4
RSI: The RSI on the H1 chart timeframe for BTC is at the 66 level and with bullish bias.
MACD: The MACD on BTC's chart time is at the negative level -1025 and has a bullish bias.
OBV: The OBV on BTC's H1 chart time is at the 2.17 level and stabilized.
Bitcoin price follows above the VWAP and below the Ichimoku Cloud and below the BB centerline.
The Bitcoin price needs to return to the continuities of positive developments upwards from the $53,000 and $53,150 price areas so that the possibilities of advancing above $54,000 and $54,500 can occur.
If Bitcoin's price fails with positive advancement continuities upwards from U$54,220 for the next few sessions; more negative corrections will emerge downwards from U$53,000 and U$52,760.
Follow the buyers as they attempt to move Bitcoin's price above $53,000.
Dominance of 61.11%.
" Only he who knows how to fight with himself is a fighter. " ------ Carlos Drummond de Andrade
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