Bitcoin Price Evolution Analysis 04.12.2021

by CSM TRADER                                                                                                                

 nº331

 BTC price U$ 60.200.  

BTC price at Braziliex R$ 342.558.

USD/BRL price R$ 5.68. 

Price EUR/BRLR$ 6.76.

Price Gold 1g R$ 316.53.

Good morning to all readers.

The Bitcoin price is still in an uptrend above the $59,500 price area and the 100 EMA (H1).

The price of Bitcoin this weekend 10 and 11/04/2021, even tested the price area of U$ 61,500, staying a little bit below its ATHA which is in the price area of U$ 61,844.

After the Bitcoin price failed to advance above the U$61,500 price area, the Bitcoin price went into negative corrections downward from the U$60,000, U$59,000 price areas and even tested the U$58,374 price area; where it returned with its positive developments above the U$59,000 and U$60,000 price areas.

Now at the time of writing the Bitcoin price is tracking in the U$60,088 price area; after having tested the U$60,300 price area a few sessions ago.

The Bitcoin price needs to hold above the supports formed above the 100 EMA (H1) or above the 20 EMA on (H4) in order to continue its consolidations and advances upwards from the breakout of the major resistance of $60,500.

It will be of utmost importance that the price of Bitcoin advances above its ATH in the price area of $61,844, so that it does not form a double top pattern, because then, the market does not forgive double tops, and the downside corrections could be much larger and extend below the $60,000 and $59,000 and could go in search of the bottom formed at $58,300, or even lower than this price area.

 The Bitcoin price needs to continue the positive developments above the $59,500 price area.

A daily close above the $60,900 price area has been made.

For today a daily close above $60,500 would be very important.

Buyers have regained control of the situation above the $58,500 price area, and continue until this moment of now at the time of writing with the Bitcoin price in the $60,011 price area.

It will be important that buyers are able to keep the Bitcoin price above the $59,500 price area.

In the case mentioned above, if buyers fail to bar sellers above the $59,500 price area, sellers may begin to gain more strength, and with that, continue to create the downside below the $59,000 and $58,600 price areas.

Buyers need to continue consolidations and positive developments above the $59,500 price area in order to avoid further losses below this.

If buyers manage to keep Bitcoin's price above $60,000 for the next few sessions, attempts to break through the $60,500 price area could emerge, and even extend above $61,120 and $61,220, where it will be of utmost importance that buyers make new consolidations above $60,780, for the possible onslaughts upwards from ATH.

Speaking of ATH, the BNB is doing ATH after ATH; where now at the time of writing is in the $565 price area, where, it did its last ATH in the $640 price area.

Buyers continue in an attempt to keep the Bitcoin price above the $60,000 price area.

The Bitcoin price will reach this April in the $100,000 price area, and the BNB will continue its historic high to the $1,000 price area.  Leave your comment.

Bitcoin TODAY at Braziliex: H1

The price of Bitcoin today at Braziliex, continues in an uptrend above the R$ 330,000 price area.

The price of Bitcoin at Braziliex this weekend and week 10 and 11/04/2021, was in consolidations between the price areas of $ 335,000 and $ 339,000.

The Bitcoin price on Braziliex even tested the R$342,558 price area.

Now at the time of writing the Bitcoin price at Braziliex is tracking in the price area of R$ 340,999.

It is important that the price of Bitcoin on Braziliex continues with its consolidations and positive developments above the R$ 334,600 price area, in order not to have negative corrections below this price area, and thus may invalidate the continuations of positive developments above the R$ 340,000 price area, where positive advances may extend above the R$ 345,000 and R$ 347,220 and thus making a new ATH in the price area of R$ 345,010.

Buyers on Braziliex have regained control of the situation above the R$330,000 price area.

Buyers on Braziliex need to continue positive developments upwards from the R$334,500 price area, as below this price area, buyers could gain more strength and with that could continue to create the downside downwards from the R$331,600 and R$330,000 price areas.

Buyers need to achieve new consolidations above the R$340,500 price area, so that positive evolutions will give the sequence upwards to the R$342,600 and R$344,000 and thus may arise the attempts of a test or even the rupture of the ATH, at R$345,010.

Follow the buyers in the attempt of positive evolutions above the R$ 340,000.

Resistances: R$ 340.643 // R$ 342.373 // R$ 343.893 // R$ 345.204. 

Supports: R$ 338,022 // R$ 336,030 / R$ 334,090 // R$ 331,626.

https://www.tradingview.com/x/923MEC7o

H4 chart:

Bitcoin price is tracking above the EMAs 20, 50, 100 and 200 and above the Ichimoku Cloud, however, it is still below the EMA 5 and the VWAP.

The Bitcoin price needs to make its continued consolidations and positive moves above the $59,500 and $58,800 price areas, or even above the EMA 20, so that moves and attempts above $60,500 can occur for the next few sessions.

If the Bitcoin price were to correct below the EMA 20 the possibilities of a test at the EMA 50 at U$ 58,750 could occur, and with that, it still has the possibilities of the Bitcoin price going for the EMA 100, where corrections could extend below the U$ 58,120.

Necessary for the Bitcoin price to stay above the $59,500 price area for the next few sessions.

The buyers remain in control of the situation and are doing a good job of not letting the sellers continue the downside below $59,300 as below this price area the buyers may have further downside below $59,000.

It follows buyers trying to bar sellers above $59,800 and trying to keep the Bitcoin price above $60,000.

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$ 60,163 // U$ 60,866 // U$ 61,519 // U$ 62,222.

Supports: U$ 59,493 // U$ 58,937 // U$ 58,300 // U$ 57,319.

https://www.tradingview.com/x/qf8eEVvL/

H1 Chart:

Bitcoin price follows above the EMAs and is above the Ichimoku Cloud, however, it is below the VWAP.

The Bitcoin price needs to make continued positive moves above the 20 and 50 EMA.

If the Bitcoin price achieves the positive advances above the major resistance of $60,500, the possibilities of developments above $61,000 will arise, and with that, it will be necessary for the Bitcoin price to hold above $60,780 for further consolidations to take place, and thus, the possibilities of positive advances above $61,460 will arise.

If the Bitcoin price fails to break above the U$60,500 price area, negative corrections will emerge and may extend below U$59,500 and U$59,000.

Follow the buyers in an attempt to evolve above U$60,300 in the near term.

Resistances: U$ 60,356 // U$ 60,615 // U$ 60,849 // U$ 61,116.

Supports: U$ 59,989 // U$ 59,646 // U$ 59,346 // U$ 58,978.

https://www.tradingview.com/x/BsLiU7cS/

Technical indicators: H4

RSI: The RSI on the H1 chart timeframe for BTC is at the 45 level and with a bearish bias.

https://www.tradingview.com/x/Q08Z6QNP/

MACD: The MACD on BTC's chart time is at the positive level 578 and with small bearish bias.

https://www.tradingview.com/x/eCI6aKEp/

OBV: OBV on BTC's H1 chart time is at the 2.17 level and stabilized.

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

M5 chart:

Bitcoin price is tracking above the BB centerline and above the VWAP and is still over exiting above the Ichimoku Cloud.

It will be important for the Bitcoin price to continue its positive developments above $60,500.

Follow the buyers as they attempt to break through the $60,360 price area.

https://www.tradingview.com/x/hCfLAO6m/

Dominance of 55.04

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nº331