Bitcoin Price Evolution Analysis 03.30.2021

by CSM TRADER                                                                                                                

 nº323

 BTC price U$ 58.980.  

BTC price at Braziliex R$ 333.501.

USD/BRL price R$ 5.78. 

Price EUR/BRL BRL 6.79.

Price Gold 1g R$ 318.93.

Good morning to all readers.

Bitcoin price is still in an uptrend above the $57,000 price area and above the EMA 50 (H1).

The Bitcoin price a few sessions ago made several attempts to break through the strong resistance at the $58,500 price area, but without success.

Failing to break through the $58,500 price area, the Bitcoin price went into negative corrections downward from the $58,000 price area, where it came to test the $57,070 price area.

After these negative corrections, the Bitcoin price continued its positive developments upwards from the price area of U$ 58,000 and this time managed to overcome the resistance of U$ 58,500, and still with the continuities of positive developments upwards from U$ 59,000, reaching to test the price area of U$ 59,335.

Now at the time of writing, the Bitcoin price is still in the price area of $58,937.

It will be of utmost importance that the price of Bitcoin continues to consolidate and evolve positively above the price area of $57,800 or even above the EMA 20 (H1), in order not to lose all the positive evolution made so far above $58,500.

If the Bitcoin price fails to overcome the resistance of $59,500 and $59,880, the negative corrections could appear, and with that, extend below the $59,000 and $58,500 price areas, and could even reach the $57,800 price area, where the Bitcoin price should remain above $57,550, so as not to have a continuation of the negative corrections below $56,880.

Only a good, consolidated breakout above the $59,500 price area, so that breakout attempts at the $60,000 price area can occur, and with that, the odds of breakouts above $60,500 and $61,000.

The Bitcoin price needs to hold above the U$56,500 price area for the next few sessions, so as not to have major downside corrections below this price area.

A daily close was made above the $57,450 price area.

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

Buyers remain in control of the situation above the $56,500 price area.

Buyers are making good positive moves above the $58,500 price area and need to continue consolidations and positive moves above $58,500 and $59,000 in order to move above $59,500 and $60,000 for the next few sessions.

If buyers fail to move above $59,500 or $60,000, then sellers will take control of the situation and create the downside below $59,000 and $58,500, where buyers will have to hold sellers above this price area so that they don't have more problems with sellers.

Buyers will continue to attempt positive developments above $59,220.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price at Braziliex today, continues its uptrend above the R$328,000 price area.

The Bitcoin price on Braziliex a few sessions ago, continued its consolidations above the R$ 326,000 price area and with that positive developments came to appear above the R$ 330,000 and R$ 332,500 price areas.

A test has already been made in the R$ 340,000 price area.

Now at the time of writing the price of Bitcoin on Braziliex, follows in the price area of R$ 332,573.

It will be of utmost importance that the Bitcoin price at Braziliex continues to consolidate and evolve positively above the R$ 328,220 price area so that it does not lose all consolidations and positive evolutions above R$ 326,000.

Bitcoin price on Braziliex is close to a major decision area which is to overcome the strong resistance and ATH of R$ 345,010.

Only with good consolidations above R$ 328,600 and R$ 330,000, for the Bitcoin price on Braziliex to break through the historical top at R$ 345,010.

If the Bitcoin price on Braziliex fails to continue above the R$ 330,000 price area, the odds of negative corrections below R$ 329,500 and R$ 328,000 could arise and still extend below R$ 326,600, where, a break above R$ 325,500 will be important, because below this price area, negative corrections could extend below R$ 322,800.

Only a good and consolidated advance above R$ 342,500, for the possible attempts of breaking through the R$ 345,010, and thus, the possibilities of a new historic top in Braziliex and Brazil may occur, and still can go in search of R$ 350,000.

The buyers in Braziliex remain in full control of the situation and are looking for a new all-time high above R$345,010.

If buyers on Braziliex fail to move above the $340,000 and $342,500 level, then sellers on Braziliex will take control of the situation and create the downside that could extend below the $338,000 and $336,500 level where buyers will have to defend the $332,380 price area in order to avoid further downside below the $330,000 level.

Follow the buyers on Braziliex in an attempt to evolve with Bitcoin's price above R$340,000.

Resistances: R$ 340,058 // R$ 342,169 // R$ 343,678 // R$ 345,010. 

Supports: R$ 338,984 // R$ 336,951 // R$ 335,283 // R$ 333,423.

https://www.tradingview.com/x/C618p5TR

H4 chart:

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

The Bitcoin price for the next few sessions needs to continue its consolidations and positive developments above the EMA 5, so that the heaviest corrections below it do not occur, and with that, a search for the EMA 20 could occur.

It will be of utmost importance that the Bitcoin price continues its positive evolutions above $59,320 and $59,500, so that consolidations rise above $58,800 and with that the probabilities of advances above $60,000 may get closer and closer.

If the Bitcoin price fails with positive developments above $59,500 and $60,320, negative corrections could come back below $59,000 and $58,500.

Only a good and with the consolidations made above U$60,360 can the Bitcoin price continue the attempt to evolve above U$61,000, and may overtake ATH in the U$61,844 price area.

The Bitcoin price just can't fail to breach the ATH, because then, a double top will be made, and as the market is not forgiving of double tops there will come some pretty heavy corrections, where these could extend below U$57,000 and U$56,000.

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$ 59,339 // U$ 59,937 // U$ 60,514 // U$ 61,091.

Supports: u$ 58,762 // u$ 58,121 // u$ 57,416 // u$ 56,689.

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

Dominance of 60.75%.

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nº323