Bitcoin Price Evolution Analysis 04.26.2021
by CSM TRADER
nº340
BTC price U$ 53.283.
BTC price at Braziliex R$ 292.700.
USD/BRL price R$ 5.47.
Price EUR/BRL R$ 6.62.
Price Gold 1g R$ 313.03.
Good morning to all readers.
The price of Bitcoin follows in an uptrend above the price area of $51,500.
The price of Bitcoin this weekend 04/24 and 04/25/2021 is in consolidations between the price areas of $48,600 and $50,600.
The price of Bitcoin even tested the $46,930 price area where it began its climb upwards to the $47,000, $48,000, $50,000, $52,000 price areas where now at the time of writing the price of Bitcoin follows above the $53,000 price area where it tries the positive advances upwards to $53,500.
Just recalling a bit; the Bitcoin price on 14.04.2021 made its highest historical high in the world where its ATH reached the U$64,854 area and price. After this historic price mark, the Bitcoin price after forming a double top pattern in this price area of U$64,854 and U$64,790, as the market does not forgive double top, came the negative corrections downwards from the U$50,000 price area; where today, a few sessions ago it reached the U$46,930 price area, that is, in 10 days a downside of U$17,924.
Now the price of Bitcoin needs to continue upwards from the price areas of $53,500 and $55,550 so that possible evolutions upwards to $57,500 can take place; for the price of Bitcoin to remain above $56,660 until the weekly close.
Now at the time of writing, the Bitcoin price remains in the $53,315 price area.
Of extreme importance for the coming sessions for the Bitcoin price to continue the positive advances upwards from the U$53,500 and U$54,120 price areas, so that it stays in consolidations above these price areas, and with that, the possibilities of a breakout at the strong resistance of U$55,500 may occur, where if this breakout happens the possibilities of positive advances to test the U$57,000 price area may arise.
If the Bitcoin price fails in these continuities of positive developments upwards of U$53,500, U$54,220 and U$55,500 the possibilities of a return of negative corrections downwards of U$53,000 and U$52,500 could happen and still extend downwards of U$51,800.
Bitcoin price should hold above the EMA 100 (H1) to provide continuity of consolidations and positive advances.
A daily close was made in the U$49,066 price area.
For today a good close would be above the $52,000 price area.
The ideal would be a daily close above $53,120.
Buyers are still trying to move the Bitcoin price above $53,300 and still need to defend the $53,000 and $52,500 price area in order not to lose all the positive moves made so far.
Bitcoin TODAY at Braziliex: H1
The Bitcoin price at Braziliex today, continues in an uptrend above the R$ 272,600 price area.
The Bitcoin price at Braziliex on 4/14/2021 made its historic price in Brazil, where it reached the R$ 380,000 price area. After a few sessions the Bitcoin price on Braziliex began the negative corrections which went below the R$ 350,000, R$ 320,000, R$ 300,000 price areas where it even tested the R$ 265,001 price area, a correction of R$ 114,999.
Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$293,002 price area.
It will be important that the Bitcoin price on Braziliex of its continued positive developments upwards of R$ 296,600 and R$ 300,000 for the coming sessions.
If the Bitcoin price on Braziliex should fail to continue upwards from the R$300,000 and R$304,500, the possibilities of a return of the negative corrections downwards from the R$292,000 and R$287,780 could arise again.
Only a good and breakthrough above the R$ 304,000 for the Bitcoin price to return with its consolidations above this price area and with that the possibilities of breakthroughs above the R$ 312,000 could arise.
Follow the buyers in the attempt of positive advances above the R$ 300,000 for the next sessions.
Resistances: R$ 300,271 // R$ 305,501 // R$ 312,157 // R$ 319,353.
Supports: R$ 292,997 // R$ 287,133 // R$ 280,952 // R$ 275,088.
https://www.tradingview.com/x/8vcAMbCL
H4 chart:
Bitcoin price follows above the 5, 20 and 50 EMAs, however it follows below the 100 and 200 EMAs and below the Ichimoku Cloud.
It will take a good rebound above the $54,220 price area for the Bitcoin price to consolidate between the $53,660 and $54,380 price areas for the possible breakout above $55,120 and $55,360.
If the Bitcoin price fails with positive advances upwards from $54,120 and $54,500, negative corrections will appear and could extend downwards from $53,120 and $52,880.
Buyers continue to attempt positive moves above $53,500.
The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only some adjustments will be made.
Resistances: U$ 53,775 // U$ 55,272 // U$ 56,524 // U$ 58,101.
Supports: U$ 52,198 // U$ 50,585 // U$ 49,192 // U$ 47,726.
https://www.tradingview.com/x/IDxdB2rz/
H1 Chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
It will be necessary for the Bitcoin price of its continued positive advances above the U$53,880 and U$54,320 price areas in the near term for consolidations to be tapered above these price areas, and with that, developments above U$55,000 can occur.
If the Bitcoin price fails to break above $55,000, corrections will appear below $54,000 and $53,500.
Follow the buyers in the attempt of positive developments above U$53,880.
Resistances: U$ 53,856 // U$ 54,448 // U$ 54,955 // U$ 55,452.
Supports: U$53,167 // U$52,201 // U$51,328 // U$50,523.
https://www.tradingview.com/x/kMTKHIbZ/
Technical indicators: H4
RSI: The RSI on the H1 chart timeframe for BTC is at the 100 level and with bullish bias.
https://www.tradingview.com/x/njuj6JYj/
MACD: The MACD on BTC's H1 chart time is at the negative 447 level and with a bullish bias.
https://www.tradingview.com/x/6UpcZCqG/
OBV: The OBV on BTC's H1 chart time is at the 2.06 level and has a bullish bias.
https://www.tradingview.com/x/EONCzuqK/
M5 chart:
Bitcoin price follows above the VWAP, above the Ichimoku Cloud and above the BB centerline.
The Bitcoin price needs the continuities of positive developments above the $57,000 price area to validate this top, if the Bitcoin price fails to break above $57,000 where there will be a lot of selling the negative corrections below $56,000 and $54,500 could happen.
First, it will be extremely important to move above $55,500 and stabilize above with good consolidations.
The buyers continue trying to move above $53,880.
https://www.tradingview.com/x/xqJLizJz/
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