Bitcoin Price Evolution Analysis 04.13.2021

by CSM TRADER                                                                                                                

 nº332

 BTC price U$ 62.828.  

BTC price at Braziliex R$ 364.999.

USD/BRL price R$ 5.73. 

Price EUR/BRL BRL 6.81.

Price Gold 1g R$ 315.01.

Good morning to all readers.

Bitcoin price follows in an uptrend above the $61,500 price area, and well above the 100 EMA(H1).

The price of Bitcoin a few days and in past sessions, has been in major consolidations in the price areas of $59,300 and $60,220, and with that forming a large and strong support in these price areas.

In the case mentioned above, after these consolidations, the Bitcoin price continued its positive developments upwards from the price areas of U$61,500 and U$62,000, where it continued with positive developments up to the U$63,288 price area, and thus making its newest historical high.

Now at the time of writing, the Bitcoin price remains in the U$62,550 price area.

It will be necessary for the Bitcoin price of its continuation of further consolidations and positive developments above the U$61,500 price area, as below this price area, tests for breakout of U$60,000 and U$59,500 could occur.

The Bitcoin price needs these consolidations to make a new support above the U$61,500 price area, and with that, the positive developments will continue upwards to the U$64,000 and U$66,000 price areas, where the psychological target of the moment is at the U$72,360 price area.

Yesterday in My Analysis 12/04/2021, I wrote that the daily close was at the $60,900 price area; I was wrong. The close was made in the $59,860 price area.

For today a daily close, and to maintain the bullish pattern, would be above the $61,780 price area.

The ideal would be a daily close above $62,220.

Buyers remain in total control of the situation above the major support they have formed in the price area of $59,600 and $60,000.

Now at the time of writing, buyers follow with the price of Bitcoin in the U$62,760 price area.

For buyers to continue with their consolidations and positive developments upwards from the new ATH they have made in the $63,288 price area, buyers will have to defend "tooth and nail" the $61,500 and $60,500 price areas; and still the $59. 500, which is the most important one, in order not to lose all this positive evolution that was made above the U$61.000 and U$62.000, because below the U$59.500 the sellers will take control of the situation, and with that, the corrections could be very heavy below the U$59.000.

Buyers could yet for the next few sessions continue the positive developments upwards in the new ATH and go for more new ATH above $64,500.

If buyers fail to continue above $63,500, sellers could take advantage and take control of the situation, where they could create the downside below $62,000 and $61,500, where buyers will have to stop sellers from taking further losses below $61,120.

Buyers need to keep Bitcoin's price above the EMA 20 (H1) for the next few sessions.

It follows buyers in the fight with sellers to keep Bitcoin's price above the EMA 5 (H1) in the $62,300 price area.

Bitcoin TODAY at Braziliex: H1

Bitcoin price on Braziliex follows me uptrend above the R$350,000 price area.

The Bitcoin price at Braziliex has made another new historic top in Brazil, reaching the R$ 364,999.56 price area.

Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$357,405 price area.

It will be important for the Bitcoin price on Braziliex of its continuation of further consolidations above the R$345,000 and R$355,000 price area, so that continuations of positive developments can give the continuation upwards of R$370,000 and R$380,000.

We have a psychological target in the R$ 400,000 price area.

But only with good consolidations above R$ 355,000 will the possibilities of advancing above R$ 400,000 occur.

Bitcoin price on Braziliex needs to stay above the R$ 352,600 price area for the next few sessions, to continue positive developments upwards from the ATH, and with that, go for more new ATH above R$ 372,220.

Buyers remain in control of the situation and will have to defend the R$350,000 price area in order not to have disadvantages with sellers below this price area.

Buyers are strong and could still continue above the R$364,999 level and extend these positive developments above the R$370,000 level for the next few sessions.

If buyers fail to continue positive developments above the R$365,000 level, sellers could take control of the situation, and with that, begin to create the downside below the R$360,000 level, where buyers will have to bar sellers above the R$355,600 price area at all costs, because below this price area, sellers will gain more strength and the downside could extend below the R$352,800 level.

Follow the buyers in Braziliex, in the attempt of evolutions above the R$ 365,000.

Resistances: R$ 363,517 // R$ 365,136 // R$ 367,274 // R$ 369,593. 

Supports: R$ 360,363 // R$ 357,117 // R$ 354,789 // R$ 352,033.

https://www.tradingview.com/x/JCIV1xFr

H4 chart:

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

The Bitcoin price seems to be with strength and consolidating above the U$62,000 to give the continuity of positive developments for further new ATHs, for the next few sessions.

It will be of utmost importance that the Bitcoin price consolidates above the U$62,000 price area so that when the negative corrections come, they do not exceed this price area.

Below $61,800, the price of Bitcoin, will need to stay above $61,500 so that negative corrections do not extend below $61,000.

The Bitcoin price needs to stay above the VWAP (purple line) and above the EMA 5 (green line), for the positive developments to continue above the ATH and still extend above the U$63,500; which will be very important for the continuation of the positive developments above the U$64,220.

A good and consolidated break above $64,500, could "open the doors" to positive evolutions above $65,000 and $66,000.

Buyers continue to push Bitcoin's price above $62,780.

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

Resistances: U$ 63,303 // U$ 64,884 // U$ 64,480 // U$ 65,122.

Supports: U$ 62,676 // U$ 61,911 // U$ 61,345 // U$ 60,474.

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

 H1 chart:

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

The Bitcoin price needs to give the continuity of positive evolutions above the U$63,500, for the positive evolutions to surpass the U$64,000 price area, and with that, it will be important that the Bitcoin price makes a good and strong consolidation between the U$63,000 and U$64,500 price areas, so that the next evolutions above the U$65,000 and U$66,000 are concrete and where they can give the sequence and positive evolutions towards the large U$70,000 price area.

If the Bitcoin price does not form good support above $62,500 and $63,000, negative corrections could extend below $62,600 and $62,220 and still the possibilities of advances below $62,000 could occur.

Follow the buyers in attempts for positive developments above ATH or even above U$63,500; which will be of extreme importance for continued bullishness, in the short term.

Resistances: U$ 63.288 // U$ 63.508 // U$ 63.800 // U$ 64.040.

Supports: u$ 62.783 // u$ 62.464 // u$ 62.125 // u$ 61.786.

https://www.tradingview.com/x/q06Nuaje/

Technical indicators: H4

RSI: The RSI on the H1 chart timeframe for BTC is at the 97 level and with bullish bias.

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

MACD: The MACD on BTC's H1 chart time is at the positive level 834 and with a bullish bias.

https://www.tradingview.com/x/xRi2g31k/

OBV: The OBV on BTC's H1 chart time is at the 2.21 level and has a bearish bias.

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

M5 chart:

Bitcoin price is tracking above the BB centerline, above the VWAP and above the Ichimoku Cloud.

It will be important that the Bitcoin price continues its consolidations above $61,800 and $62,000, as this will form a good strong support above $62,000, where the possibilities of negative corrections may be more difficult to break below $61,500.

Follow the buyers in an attempt to evolve the Bitcoin price to above U$ 63,500, for the next sessions.

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

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nº332