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Bitcoin Price Evolution Analysis 04.19.2021

By CSM TRADER | CSM TRADER | 19 Apr 2021


Bitcoin Price Evolution Analysis 04.19.2021

by CSM TRADER                                                                                                                

 nº336

 BTC price U$ 56.456.  

BTC price at Braziliex R$ 322.100.

USD/BRL price R$ 5.58. 

Price EUR/BR R$ 6.72.

Price Gold 1g R$ 321.84.

 

Good morning to all readers.

Bitcoin price is still in a downtrend below the $58,000 price area.

The price of Bitcoin this weekend 17 and 18/04/2021, after having failed and formed a double top pattern in attempt to surpass the price area of U$ 62,500, began negative corrections below U$ 60,000, U$ 58,000, U$ 56,000 U$ 52,000 where it came to test price area of U$ 50,930.

These corrections may also have been stronger because Turkey had its ban on Bitcoin purchases and sales.

The Bitcoin price continues its bullish recovery path above the last bottom formed in the $53,064 price area.

It will be necessary for the Bitcoin price to continue consolidations and positive developments above the $55,500 price area, as below this support the negative corrections could continue below $54,420 and $53,800.

Only a good advance above resistance and with consolidations and stabilization above $57,500 for the Bitcoin price to attempt a stronger rebound above the major resistance of $58,000 and $58,360 and the possibility of advances above $59,000 could occur.

It will be of utmost importance that the Bitcoin price of its continued consolidations above the 20 EMA (H1) for the coming sessions.

Now at the time of writing, the Bitcoin price follows in the U$56,340 price area, where it follows with a small downside correction for failing to break above the U$57,530 price area.

It will be of utmost importance that the Bitcoin price stays above the $55,500 price area so that negative corrections do not extend below $54,500 and $53,800 where possibilities of testing back below $52,600 are not ruled out.

The Bitcoin price needs to hold above $56,000, and continue to build good, strong support above this price area.

Only a good, strong advance and stabilizing above the EMA 50 (H1) for the Bitcoin price to get out of a risk area of further downside corrections.

A daily close was made above the price area of $56,120.

For today it would be very important for continued positive developments a daily close above the U$56,500 price area.

 

Buyers will lose control of the situation if they let sellers create the downside below the $56,000 price area.

If buyers fail to protect the $55,500 price area, the downside created by sellers will be much greater where it could extend below the $55,220 and $55,000 price area.

Only a good, consolidated move by buyers above $57,000 in the near term will get them out of a further loss area created by sellers.

Follow the buyers in an attempt to keep Bitcoin's price above $56,000.

 

Bitcoin TODAY at Braziliex: H1

The Bitcoin price on today, continues in a downtrend below the R$ 340,000 price area.

The price of Bitcoin on Braziliex this weekend 17 and 18/04/2021, failed to give its continuation of positive developments above the price area of $ 350,000.

In the case mentioned above, the Bitcoin price failed to continue positive evolutions upwards from the R$ 350,000 and R$ 352,220, and with that, came the negative corrections downwards from the price areas of R$ 340,000, R$ 330,000 where it even tested the price area of R$ 311,000.

Now at the time of writing the price of Bitcoin continues with its positive developments above the price area of R$ 320,000.

It will be of utmost importance that the Bitcoin price of its continuing consolidations above the R$ 316,220 price area so that the positive developments can continue above the R$ 330,000 and R$ 334,220.

Only a good breakthrough for the Bitcoin price on Braziliex above the R$ 340,000 and still remain above this price area for a few sessions for further consolidations, so that the positive evolutions, can give the sequence for the possible attempts of positive breakthroughs above the R$ 346,000 and R$ 348,500.

If the Bitcoin price fails to provide the continuation upwards of the R$ 340,000 and R$ 342,500 the negative corrections could emerge again and extend below the R$ 336,220 and R$ 330,000.

Buyers remain in control of the situation, but with great difficulty in continuing positive developments above the R$ 334,000 and R$ 340,000 price areas.

If buyers fail with these developments the sellers on Braziliex could once again create the downside downwards from the R$330,000 and R$326,600 price areas.

Follow the buyers on Braziliex in an attempt to evolve the Bitcoin price above R$ 334,000 for the next few sessions.

Resistances: R$ 329,678 // R$ 333,398 // R$ 338,649 // R$ 343,147. 

Supports: R$ 323,324 // R$ 318,515 // R$ 314,089 // R$ 311,001.

https://www.tradingview.com/x/yneYb37q

 

H4 chart:

Bitcoin price follows slightly above the EMA 5 and VWAP, however, it follows below the EMAS 200, 20 100 and 50 and low on the Ichimoku Cloud.

The Bitcoin price needs to continue above consolidations and positive moves above the 200 EMA for the positive moves to continue above $57,780.

If the Bitcoin price misses for the next few sessions these evolutions above the EMA 2000, corrections could come back below the $56,500 and $56,000 price areas.

Follow the buyers in an attempt to evolve the Bitcoin price above U$57,000, which seems to be not so easy.

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$ 57,162 // U$ 57,871 // U$ 58,444 // U$ 59,047.

Supports: U$ 56,046 // U$ 55,292 // U$ 54,523 // U$ 53,018.

https://www.tradingview.com/x/XaOg7gs6/

 

H1 chart:

Bitcoin price follows above the EMAs 5 and 20 and above the BB centerline and above the Ichimoku Cloud, however it still follows below the EMAs 50,100 and 200.

The Bitcoin price needs to continue consolidations and positive developments above the 5 and 20 EMAs and will still need to stay supported above the 50 EMA for the next few sessions to get out of a risk area of further downside corrections below $56,500.

Buyers follow with good moves above the $57,000 price area where they need to begin new consolidations above this price area for possible advances above the $57,520 resistance.

If buyers fail with these advances above $57,220 and $57,320 then sellers could take control of the situation and create the downside below $57,000 and $56,500 again.

Follow the buyers in an attempt to keep the Bitcoin price above U$57,000.

Resistances: U$ 57,342 // U$ 57,686 // U$ 58,104 // U$ 58,595.

Supports: U$ 56,457 // U$ 55,904 // U$ 55,474 // U$ 54,823.

https://www.tradingview.com/x/A6edeCYR/

 

Technical indicators: H4

RSI: The RSI on the H1 chart timeframe for BTC is at the 65 level and with bullish bias.

https://www.tradingview.com/x/2uXr8sAY/

MACD: The MACD on BTC's H1 chart time is at the negative -142 level and with a bullish bias.

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

OBV: The OBV on BTC's H1 chart time is at the 2.21 level and stabilized.

https://www.tradingview.com/x/GRM0jrHx/

 

M5 chart:

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

It will be important for the Bitcoin price to continue its positive advances above U$57,220, so consolidations above U$57,000 can occur.

A drop below $56,500 could reverse the Bitcoin price situation to negative corrections below the $56,000 and $55,780 price areas, where, possibilities for advances below $54,660 could arise.

It follows the buyers in the fight with the sellers to keep the Bitcoin price above U$56,880.

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

 

Dominance      51.81 %

" Exploit the cognitive weakness of others. " ----- James Early

 

 

Continue to follow my analysis through Tradingview as well:

https://br.tradingview.com/chart/BTCUSDT/cgTHMVAk/

 

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nº336

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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CSM TRADER
CSM TRADER

I'm a graphic analyst


CSM TRADER
CSM TRADER

Bitcoin graphical and fundamental analysis.

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