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Bitcoin Price Evolution Analysis 04.22.2021

By CSM TRADER | CSM TRADER | 22 Apr 2021


Bitcoin Price Evolution Analysis 04.22.2021

by CSM TRADER                                                                                                                

 nº338

 BTC price U$ 54.134.  

BTC price at Braziliex R$ 309.847.

USD/BRL price R$ 5.59. 

Price EUR/BRL BRL 6.70.

Price Gold 1g R$ 315.77.

 

Good morning to all readers.

Bitcoin price is still in a downtrend below the $55,500 price area and the EMA 20 (H4).

The Bitcoin price a few sessions ago tried to reverse its situation of continuing more negative corrections by attempting positive advances upwards from the $56,500 price area, but; it came to fail again.

In the case mentioned above, the Bitcoin price failed to make positive progressions upwards of $56,500 for 3 times and with that came negative corrections downwards from $56,000, $55,000, $53,000 and even testing the $52,558 price area.

Now at the time of writing the Bitcoin price is trying to continue its positive developments upwards to the U$54,500 price area.

It will be of utmost importance that the Bitcoin price achieves and continues its positive evolutions above the U$ 54,5000, U$ 55,000 and U$ 56,660, so that, new consolidations will be made above the U$ 55,780, and with that, the possibilities of advancements above the U$ 56,500 could arise.

The possibilities in the case mentioned above seem to be quite difficult at this point in the short and medium term, as the Bitcoin price still keeps making lower and lower tops in relation to its previous ones.

If the Bitcoin price fails in the attempts of positive advances upwards from the price areas of $54,600 and $55,500, the negative corrections will return and with that could still extend downwards from the price areas of $52,500, $52,000 and $51,500, where a test at the bottom formed in the price area of $50,930 could still occur.

The possibilities of Bitcoin's price still heading below $50,500 and $50,000 are still on the table.

Only a good, consolidated and strong advance upwards from the U$56,000 and U$56,500 price areas for the Bitcoin price to attempt a good recovery of positive developments upwards from U$57,000 and out of a risk area of further negative corrections downwards from U$50,500.

A daily close has been made above the $53,780 price area.

For today a good daily close would be above the $53,000 price area.

 

Sellers remain in control of the situation with the Bitcoin price below the $54,660 price area, relative to the BB centerline.

Sellers are gaining more and more strength with their downside to below the U$55,000 and U$54,800 price areas.

Now at the time of writing the sellers are following with the Bitcoin price in the $54,360 price area, where buyers are trying the positive advances upwards from the $54,500 price area; which will be extremely important for them to get out in the short term, from a risky area, of more downside created by the sellers downwards from the $54,000 price area.

Buyers will have to fight hard not to let sellers break this price area; for below $50,930, the possibility of sellers gaining more strength could occur, and they could continue their negative advances below $50,500 and $50,220, where they could still go for $48,680.

The buyers continue their hard work of trying to make positive moves above the $54,500 and $55,000 price area.

 

Bitcoin TODAY at Braziliex: H1

Bitcoin price today on Braziliex continues in a downtrend below the $312,000 price area.

The Bitcoin price at Braziliex did not get its positive advances above the $315,000 and continued negative corrections below the $310,000 and $306,000 price areas where it even tested the $300,003 price area.

Now at the time of writing the price of Bitcoin on Braziliex follows in the price area of R$ 304,000.

It will be important that the price of Bitcoin on Braziliex continues its consolidations and positive developments above the R$ 300,000 price area.

In the case mentioned above, only a good, consolidated advance above the R$ 310,000 and R$ 316,600 price areas for the Bitcoin price to exit a risk area of further negative corrections below R$ 300,000.

Sellers on Braziliex remain in control of the situation with the Bitcoin price in the R$304,000 price area.

Buyers will have to try the rounds of positive developments upwards from the R$310,000 and R$314,500 price areas in the short term to prevent sellers from continuing to create their downside below the R$300,000 where they could still extend their downside below the R$298,500 and R$296,500 price areas.

Only a good and strong advance of buyers in Braziliex above the R$ 312,000 to try the turns of new consolidations above this price area and with that the possibilities of advances above the R$ 316,600 could arise.

Follow the buyers in the difficult and important job of barring the sellers on the Braziliex above the R$300,000 price area.

Resistances: R$ 309,840 // R$ 313,175 // R$ 316,796 // R$ 319,274. 

Supports: R$ 305,647 // R$ 302,502 // R$ 299,586 // R$ 295,583.

https://www.tradingview.com/x/IXNoyz6Y

 

 H4 chart:

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

The Bitcoin price has managed to break through the $54,500 and $55,000 price area just now.

Now at the time of writing, the Bitcoin price is in the U$55,036 price area.

It will be important now at this time that the Bitcoin price returns to consolidations above the U$ 54,780 price area so that with that positive developments can continue to make the breakthroughs in the attempt to break through the next top which is in the U$ 56,500 price area.

But first the price of Bitcoin needs to overcome strong resistance in the price area of $55,500 to give its sequence of positive developments upwards to $56,000.

If the Bitcoin price were to fail in these attempts at positive evolutions above $55,500, negative corrections could reappear below $54,880 and $54,660 where it would need to remain above $54,5000 in order not to lose the positive evolutions made so far above $54,220.

Buyers are trying to vote for control of the situation, but to do so they will have to keep Bitcoin's price above $54,500 for the next few sessions and continue with consolidations above the $54,780 and $55,000 price areas.

If buyers fail in the upcoming developments above U$55,500, sellers will continue to create the downside below U$54,500 and U$54,220.

Follow the buyers in an attempt to keep the Bitcoin price above $54,780.

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$ 55,473 // U$ 56,519 // U$ 57,476 // U$ 58,402.

Supports: U$ 54,069 // U$ 52,933 // U$ 51,558 // U$ 49,915.

https://www.tradingview.com/x/1H63QklJ/

 

H1 Chart:

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

The price of Bitcoin keeps making lower and lower tops than the previous tops.

It would be extremely important that in order to break this pattern that has been happening, that the price of Bitcoin makes a new top above its previous one, which would be a new short-term top above the price area of $54,800 and then $56,500.

In the case mentioned above, the Bitcoin price for such a feat, will have to break through the resistance of U$55,500 and U$56,500.

The Bitcoin price at this point will have to break through the $55,500 price area and maintain its consolidations above this price area in order for the attempts at a new top and the positive advances above $56,000 to work out.

If the Bitcoin price fails in this first step of breaking above $55,500 for the next few sessions; the negative corrections will appear, where they could go back below $55,220 and $55,000 and even extend below $54,500 again.

Only a good and consolidated advance above the EMA 50 will allow the Bitcoin price to achieve its positive evolutions above $55,500.

Follow the buyers in an attempt to evolve the Bitcoin price above the EMA 50 for the next session.

Resistances: U$ 55,240 // U$ 55,837 // U$ 56,451 // U$ 57,048.

Supports: U$ 54,204 // U$ 53,344 // U$ 52,206 // U$ 51,992.

https://www.tradingview.com/x/p7DzPXhk/

 

Technical indicators: H4

RSI: The RSI on the H1 chart timeframe for BTC is at the 67 level and with bullish bias.

https://www.tradingview.com/x/jv4LXss2/

MACD: The MACD on BTC's chart time is at the negative -949 level and with a bullish bias.

https://www.tradingview.com/x/cHvCci4J/

OBV: The OBV on BTC's H1 chart time is at the 2.16 level and with

small upward bias.

https://www.tradingview.com/x/meJxtrD5/

 

M5 chart:

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

Advances above $55,000 will be important in the near term so that it does not enter trial exhaustion and return to negative corrections below $54,500.

Only advances above U$ 56,500 and U$ 57,000, for the Bitcoin price to get back to its bullish evolutions.

Follow the buyers in the difficulty of advances above U$ 55,000.

https://www.tradingview.com/x/Qfe2Wy9a/

 

Dominance of the 50.71%

" Compound Interest is the greatest invention of mankind, because it allows a reliable and systematic accumulation of wealth. " ---- Albert Einstein

 

Continue to follow my analysis through Tradingview as well:

https://br.tradingview.com/chart/BTCUSDT/GpE9TfCS/

 

 

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nº338

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CSM TRADER
CSM TRADER

I'm a graphic analyst


CSM TRADER
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