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Bitcoin Price Evolution Analysis 04.23.2021

By CSM TRADER | CSM TRADER | 23 Apr 2021


Bitcoin Price Evolution Analysis 04.23.2021

by CSM TRADER                                                                                                                

 nº339

 BTC price U$ 49.400.  

BTC price at Braziliex R$ 267,000.

USD/BRL price R$ 5.44. 

Price EUR/BRL R$ 6.56.

Price Gold 1g R$ 314.43.

 

Good morning to all readers.

Bitcoin price is still in a downtrend below the $50,000 price area.

Bitcoin price in the past sessions failed again in attempts of positive developments upwards from the U$55,500 price area, and with that, continued negative corrections downwards from the U$50,000, U$49,000 price areas and even testing the U$47,499 price area.

Now at the time of writing the Bitcoin price is tracking in the U$49,280 price area.

For the Bitcoin price to return to the attempts of positive developments, positive advances upwards from the price areas of $50,220 and $50,780 will be necessary to make good consolidations above $50,000, where if the Bitcoin price fails in these positive advances it could return to negative corrections below $49,000 in the short term.

Of utmost importance are these positive moves above $50,000 and $50,500 where, the Bitcoin price needs to stabilize back above $52,220 for the next few sessions to invalidate further negative corrections below $50,000 and $49,500.

If the Bitcoin price fails to make positive moves above the $50,000, $50,500, and $51,360 price areas, the negative corrections will emerge again, and this time they could go for the last bottom formed in the $47,499 price area, and they could extend below $46,500 and reach the $44,660 price area.

In the price area of $43,300 there is still another bottom where the Bitcoin price could still test if the sequence of positive developments above $52,220 does not continue.

A daily close was made in the price area of $51,522.

For today a close above the $49,780 price area would be important.

Sellers remain in full control of the situation with the Bitcoin price below the U$52,000 price area.

As written in my Analysis of yesterday 04/22/2021, where sellers could go for U$48,680, and that is what happened and they even tested the U$47,499 price area.

Now at the time of writing, buyers are attempting a resumption upwards to the U$50,000 price area.

Positive moves by buyers above $50,000 and $55,500 will be extremely important for the next few sessions.

If buyers fail to make these moves above $50,000 and $50,500 in the near term, sellers could continue to create more downside moves below the $49,080 and $48,880 price areas, where the possibility of negative moves below $47,499 are not yet ruled out.

Only a good, consolidated advance by buyers above $51,000 to get out of a risk area of further downside created by sellers below $50,220.

Buyers are still trying to move Bitcoin's price above $50,000, but first they need to get above the $49,500 price area, where they are already having difficulties with positive advances above it.

 

Bitcoin TODAY at Braziliex: H1

The Bitcoin price today on Braziliex continues in a downtrend below the $280,000 price area.

The price of Bitcoin at Braziliex some sessions ago, failed to give the sequence of positive developments above the price area of $ 290,000 and with that the negative corrections gave their continuity below the price areas of $ 280,000, U$ 270,000 and even testing the price area of $ 261,010.

Now at the time of writing the price of Bitcoin on Braziliex follows in the price area of $ 272,017.

It will be necessary for the Bitcoin price to return with its positive developments above the price areas of $280,000 and $294,500 for consolidations to be made above these price areas and with that the possibilities of positive advances above $300,000 can arise and thus invalidate the continuations more negative corrections below the $270,000 and $260,000.

Sellers at Braziliex remain in control of the situation with the Bitcoin price below the R$300,000 price area.

It will be important for buyers on Braziliex right now to get the positive advances at least above the R$284,380 price area and stay in consolidations with the Bitcoin price above R$281,220.

If buyers fail with these developments above $280,000 and $285,500, sellers may again create the downside below $270,000 and $265,500, where they may still extend this downside below $256,660.

Follow the buyers in an attempt to evolve the price of Bitcoin on Braziliex above the R$280,000.

Resistances: R$ 276,880 // R$ 288,964 // R$ 299,598 // R$ 309,990. 

Brackets: R$ 263,349 // R$ 254,407 // R$ 248,123 // R$ 239,665.

https://www.tradingview.com/x/znbYG8tp

 

Chart D1:

Bitcoin price is still tracking above the EMA 100 (white line) where a candle shadow has already been left.

It will be of utmost importance that the Bitcoin price remains above the EMA 100, because if it gives the continuation of negative corrections below it, the possibilities of a search on the EMA 200 (pink line) could occur.

Only a good advance above the Ichimoku Cloud and the EMA 50 (gray line), for the Bitcoin price to break out of further negative corrections.

https://www.tradingview.com/x/pTdggy2x/

 

H4 chart:

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

Only a good advance above the EMA 20 (yellow line) for the Bitcoin price to achieve a good consolidation and advances above $55,000 could emerge.

If the Bitcoin price already fails to make positive advances above the EMA 5 (green line), negative corrections could again follow below the VWAP (purple line) or even below U$49,000.

Buyers are making the positive advances above $50,000, it will still be necessary for them to stabilize the Bitcoin price above the $50,500 price area for the possible positive developments to continue above $51,220.

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

Resistances: U$ 50,553 // U$ 51,835 // U$ 53,234 // U$ 54,633.

Supports: U$ 49.247 // U$ 47.446 // U$ 45.892 // U$ 44.299.

https://www.tradingview.com/x/9gsMcY7h/

 

H1 chart:

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

It will be important for the Bitcoin price to evolve above the EMA 20 or even above the $50,500 price area for ugly consolidations between the $50,220 and $50,880 price areas for possible positive evolutions above the $50,000 and $50,500.

If the Bitcoin price fails on these positive evolutions upwards of $50,000 and $51,000, the negative corrections could come back down to below $49,500, and still extend below $49,000

Follow the buyers in their attempts to evolve Bitcoin's price above $50,000, where they still, need to defend the $49,500 price area to not let sellers create more downside back below $49,000.

Resistances: U$50,253 // U$51,374 // U$52,258 // U$53,380.

Holders: U$ 49,403 // U$ 48,179 // U$47,126 // U$45,766.

https://www.tradingview.com/x/RZT60iFX/

 

Technical indicators: H4

RSI: The RSI on the H1 chart timeframe for BTC is at the 30 level and with a bullish bias.

https://www.tradingview.com/x/FdCEZ6tr/

MACD: The MACD on BTC's H1 chart time is at the negative 1888 level and has a bearish bias.

https://www.tradingview.com/x/35iWLRPm/

OBV: The OBV on BTC's H1 chart time is at the 2.05 level and stabilized.

https://www.tradingview.com/x/7q2xZUoN/

 

M5 chart:

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

Bitcoin price is facing the difficulties in the positive advances above $50,500.

If the Bitcoin price were to fail right away with these moves above $50,500 and $51,220, the negative corrections will reappear below $49,500 and could still go below $49,000.

The buyers are still trying to stop the sellers above $49,500 and still need the positive developments above $50,500 to start to get out of a risk area of more downside created by the sellers below $49,220.

https://www.tradingview.com/x/PHuoea8S/

 

Bitcoin dominance 50.93 %.

 

Continue to follow my analysis on Tradingview as well:

https://br.tradingview.com/chart/BTCUSDT/V4ITas9u/

 

" Economic growth without investment in human development is unsustainable - and unethical. " ----- Amartya Kumar Sen

 

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nº339

 

 

 

 

 

 

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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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