Bitcoin Price Evolution Analysis 03.29.2021

By CSM TRADER | CSM TRADER | 29 Mar 2021

Bitcoin Price Evolution Analysis 03.29.2021

by CSM TRADER

nº322

BTC price U$ 57.780.

BTC price at Braziliex R$ 329.900.

USD/BRL price R$ 5.75.

Price EUR/BRL R$ 6.77.

Price Gold 1g R$ 317.92.

Good morning to all readers.

The Bitcoin price is still in an uptrend above the $55,500 price area.

The price of Bitcoin this weekend 27 and 28/03/2021, was in the attempt of breakout in the area after a recovery of positive developments upwards from the price area of U$ 54,500 and U$ 55,500, was in search of breakout in the price area of U$ 57,000.

In the case mentioned above, the Bitcoin price failed to break out above the U$56,700 price area.

After many attempts and consolidations between the U$55,770 and U$56,480 price areas, the Bitcoin price failed to continue positive breakouts above U$56,700 and with that came negative corrections as far as testing the U$54,691 price area.

After a further attempt at positive advances above U$56,000 the Bitcoin price again failed and returned to negative corrections up to the U$54,798 price area, where with a double bottom pattern the Bitcoin price gave its continuation of positive advances up to the U$55,000, U$56,000 and U$57,000 price areas, and even testing the U$58,350 price area.

Now at the time of writing, the Bitcoin price is tracking above the U$57,500 price area, and is in the U$57,850 price area.

It will be necessary for the Bitcoin price of its continued consolidations and positive developments to move above the U$56,680 price area.

It will be important for the Bitcoin price to continue its positive advances above $58,220 and $58,500, and with that the possibilities of a good advance to the strong resistance of $59,000 may arise, where new consolidations should be made above these for the continuation of positive advances above $60,000.

Once the Bitcoin price consolidates above the U$58,600 and U$59,220 price areas, breakout attempts above U$60,000 could occur.

On the other hand, if the Bitcoin price fails to provide continued positive developments above U$58,500 or even above U$59,120, negative corrections will appear and may go back below U$56,500, where it will be, necessary to stop above U$56,220 in order not to lose the good positive advances for a resumption of attempts above U$57,500.

In the near term the Bitcoin price needs to continue its consolidations and positive advances above the EMA 5 (H1).

A daily close above the U$55,400 price area was made.

For today a daily close above the U$56,800 price area would be important.

Bitcoin TODAY at Braziliex: H1

The price of Bitcoin at Braziliex today, continues in an uptrend above the U$ 314,000 price area.

The Bitcoin price at Braziliex made good consolidations between the price areas of $317,000 and $322,000, where after a small downward correction up to the price area of $315,400, the Bitcoin price at Braziliex returned with strength and was evolving positively upwards from the price areas of $322,000, $326,000 and $330,000, where it even tested the price area of $333,028.

Now at the time of writing the Bitcoin price on Braziliex is tracking in the R$ 329,900 price area.

It will be extremely important for the price of Bitcoin on Braziliex, the continuities of consolidations and positive developments above the price area of R$ 324,600 so that negative corrections do not occur below this price area.

In the case mentioned above, if the Bitcoin price does not achieve the necessary evolutions above the R$ 334,000 and R$ 336,600 price areas, for the next sessions, the negative corrections will appear and need to remain above the R$ 324,600 and R$ 324,000 price area, because below this price area the negative corrections could gain more strength and with that return below the R$ 320,000, which could complicate the Bitcoin price to return to positive evolutions above the R$ 328.00 in the medium term.

Resistances: R$ 333,076 // R$ 335,516 // R$ 337,287 // R$ 339,902.

Supports: R$ 328.105 // R$ 325.436 // R$ 322.144 // R$ 318.852.

https://www.tradingview.com/x/P1OUDIRv

H4 chart:

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

It will be important for the Bitcoin price of its consolidations continuities above $56,500, or even above the 100 EMA.

If the Bitcoin price remains above the EMA 20 for the next few sessions, continuities above the $58,000 price area and positive developments above $59,000 could occur.

First it will be of utmost importance that the Bitcoin price advances above the $58,500 resistance so that new consolidations above $58,120 can be realized and with that strengthening more and more for the continuities of breakout attempts at $59,000; where still these developments could advance above $60,000, for the next sessions.

If the Bitcoin price fails to make near-term advances above U$58,500 negative corrections could extend below U$57,600 and U$57,360, where a stop above U$57,000 will be mandatory, as below these price areas the Bitcoin price could go for a test at EMA 20.

Only a good positive breakout above U$58,500 for continued positive developments above U$59,000 and the search for a new breakout at U$60,000 could occur.

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

Resistances: U$ 58,461 // U$ 59,053 // U$ 59,268 // U$ 60,220.

Supports: u$ 57,778 // u$ 56,986 // u$ 56,448 // u$ 55,976.

https://www.tradingview.com/x/5QBQY9kH/

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