Bitcoin Price Evolution Analysis 04.14.2021
by CSM TRADER
nº333
BTC price U$ 63.810.
BTC price at Braziliex R$ 372.001.
USD/BRL price R$ 5.71.
Price EUR/BRL R$ 6.83.
Price Gold 1g R$ 319.65.
Good morning to all readers.
Bitcoin price continues in an uptrend above the strong support formed in the price area of $62,500.
Another new ATH was made where it reached the $64,854 price area.
Bitcoin price comes with good positive developments above the U$63,220 price area, with its normal corrections within these U$62,500 and U$64,220 price areas, where it shows that the bullish continuity could continue upwards to the U$65,000 and U$66,000 price areas; once the ATH is broken.
Now at the time of writing, the Bitcoin price has been recovering from a downside correction that was the up to the U$63,010 price area.
This shows us that the U$62,500 support is intact and for now is difficult to break.
It will be necessary for the Bitcoin price to continue with positive developments above the $62,500 support, because once below this price area, the trend will be to seek the next support formed in the $60,550 price area, or even below the EMA 50 (H1), and with this, corrections could be heavier below $60,220.
It will be of utmost importance that the Bitcoin price from its continued positive developments above U$64,220 to a new support formation above U$63,600, and with that, the possibilities of advances above the ATH and positive advances above U$65,000 and U$66,000 could occur for the next sessions.
A good daily close has been made above the $63,300 price area.
For today a good daily close would be above the $63,880 price area.
The ideal would be above $64,000.
Buyers remain in full control of the situation above the EMAs 20 and 50 and above the $62,500 price area.
Buyers are going for more new ATHs above $65,000.
If buyers fail to continue positive developments above $64,500 and $65,000, the downside made by sellers could appear below $64,000 and $63,660, where buyers will have to defend these price areas to avoid jeopardizing the support they have formed in the $62,500 price area.
Buyers continue to build support again above the $63,500 price area.
Buyers continue to attempt to move above the $64,300 price area.
Bitcoin TODAY at Braziliex: H1
Bitcoin price today at Braziliex is still in full uptrend above the R$ 366,600 price area.
The Bitcoin price at Braziliex has made yet another all-time high in Brazil, where it has just now reached the R$380,000 price area.
It will be necessary for the Bitcoin price on Braziliex to continue consolidations and positive developments towards the R$ 368,500 and R$ 372,220 price areas, so that advances upwards from the ATH at R$ 380,000 can emerge and with that, the possibilities of advances upwards from R$ 384,500 and R$ 387,600 can emerge for the next sessions.
If the Bitcoin price fails with these advances above the R$ 380,000 the negative corrections could appear again, where they should stay above the R$ 372,220 and R$ 366,500 price areas, in order not to put at risk all the evolutions and consolidations made so far above the R$ 372,000.
The buyers at Braziliex continue to control the situation above the R$360,000 price area.
Buyers on Braziliex are eyeing the R$400,000 price area for the next few sessions.
To accomplish this, buyers at Braziliex will need to keep the Bitcoin price above the R$ 367,500 price area and work their way up/consolidate the Bitcoin price above R$ 372,000.
If the buyers at Braziliex fail to continue positive developments above $380,000 and $384,500 the sellers at Braziliex could take control of the situation and with that the downside could extend below $374,000 and $372,000 where buyers will have to defend these price areas so as not to jeopardize all the positive developments made above $366,600.
Follow the buyers in Braziliex in an attempt to come back with the positive evolutions above the R$376,000.
Resistances: R$ 380,043 // R$ 382,065 // R$ 383,879 // R$ 385,391.
Supports: R$ 375,076 // R$ 373,305 // R$ 371,836 // R$ 369,991.
https://www.tradingview.com/x/oOR0Hf2V
H4 chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
Continued positive moves above the $64,500 price area will be important, where, possibilities of continuation upwards the $65,220 and $65,360, could emerge, for the next few sessions.
If the Bitcoin price fails to continue positive advances above the ATH in the $64,854 price area, negative corrections will appear where they may extend below $64,500 and $64,120 where a stop above $63,740 will be of utmost importance.
Buyers need the continuation of positive moves above $64,500.
It is very important for buyers to continue positive developments above $64,500 and $64,660, because if they weaken, sellers will take control of the situation, where they can create the downside below $64,000.
Follow the buyers as they attempt positive developments above $64,420.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin price evolution. Only some adjustments will be made.
Resistances: U$ 64,867 // U$ 65,472 // U$ 66,069 // U$ 66,629.
Supports: U$ 63,978 // U$ 63,336 // U$ 62,571 // U$ 61,888.
https://www.tradingview.com/x/y62TKGLk/
H1 Chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
It will be of utmost importance that the Bitcoin price continues positive developments above the ATH or above the $64,854 price area.
In the case mentioned above, if the Bitcoin price fails to advance above $65,000 and the 1-hour candle closes between the $64,800 or $64,700 price areas, it could form a double top pattern and with that the downside corrections will appear below $64,500 and $64,000.
Only a good strong advance above $65,120, to invalidate this possible double top pattern that could occur; remembering that the market is not forgiving of double tops and corrections could be stronger.
Buyers are having quite a bit of trouble in continuing positive developments up ATH.
If buyers fail the chances of sellers getting in control of the situation and creating the downside below $64,500 and $64,220 could appear.
Buyers will have to defend the $64,100 price area in order not to have further downside below this price area created by sellers.
Follow the buyers in an attempt to evolve Bitcoin's price above U$65,000.
Resistances: U$ 64,548 // U$ 64,863 // U$ 65,140 // U$ 65,381.
Supports: U$ 64,285 // U$ 64,043 // U$ 63,725 // U$ 63,407.
https://www.tradingview.com/x/GOiNfUOy/
Technical indicators: H4
RSI: The RSI on the H1 chart timeframe for BTC is at the 99 level and with a bullish bias.
https://www.tradingview.com/x/wn5NG7VC/
MACD: The MACD on BTC's chart time is at the positive level 1315 and with a bullish bias.
https://www.tradingview.com/x/mMgYaICO/
OBV: The OBV on BTC's H1 chart time is at the 2.26 level and stabilized.
https://www.tradingview.com/x/GWoihFAb/
M5 chart:
Bitcoin price follows above the VWAP above the Ichimoku Cloud and a little bit above BB centerline.
It will be of utmost importance that the Bitcoin price of its continuing consolidations above the $63,500 price area, for the next few sessions.
There was the attempt of positive developments upwards from ATH but the buyers failed at this point and formed the double top as I had written above.
Buyers now need to defend the U$63,500 price area so as not to take big losses below this price area with sellers.
It will be necessary for buyers to keep the Bitcoin price above the Ichimoku Cloud.
Follow the buyers as they attempt to bar sellers above $ 64,220.
https://www.tradingview.com/x/kAXIem1i/
Dominance of 54.42%
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nº333
