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Bitcoin Price Evolution Analysis 04.28.2021

By CSM TRADER | CSM TRADER | 28 Apr 2021


Bitcoin Price Evolution Analysis 04.28.2021

by CSM TRADER                                                                                                                

 nº342

 BTC price U$ 54.280.  

BTC price at Braziliex R$ 300.000.

USD/BRL price R$ 5.46. 

Price EUR/BRL R$ 6.58.

Price Gold 1g R$ 311.13.

 

Good morning to all readers.

Bitcoin price follows uptrend above the $51,500 price area and above the 100 EMA (H1).

The Bitcoin price a few sessions ago even tested the $55,738 price area, thus making the highest high of the week for now.

The Bitcoin price managed to break through the major resistance of U$55,550, but failed to continue the positive developments upwards to the U$55,800 and U$56,000 price areas.

Now at the time of writing the Bitcoin price follows in negative corrections below the U$55,000 price area, where it is attempting the positive evolutions upwards from U$54,500.

It will be of extreme importance for the Bitcoin price to make the necessary advances above the resistance in the $54,500 price area, because if there is a failure in these positive advances the negative corrections could continue below $54,000 and $53,580.

Only a good and consolidated advance above U$ 55,000 and U$ 55,220 for the Bitcoin price to return to attempts to continue positive evolutions above U$ 56,000 and still be able to test U$ 57,220.

The Bitcoin price needs to stay above the EMA 50 and go above the EMA 5 in the short term to give the condition for positive evolutions to happen for the next sessions.

A daily close above the $55,011 price area was made.

For today a daily close above the $54,660 price area would already be good enough. The ideal would be above $55,120.

Buyers remain in control of the situation, but are having difficulty returning the continuity of positive developments above the $54,500 and $55,000 price areas.

Buyers need to keep the Bitcoin price above the EMA 50 or even above the $54,000 and $53,680 price area so that sellers don't start creating the downside and strengthen below $53,220.

Follow the buyers in consolidations above the EMA 50, and in attempts to get back to positive advances above $54,550 and $55,000.

 

Bitcoin TODAY at Braziliex: H1

The Bitcoin price at Braziliex today is trending above the R$ 293,400 price area.

A few sessions ago there was a beautiful "violinada" with the price of Bitcoin at Braziliex, which left the price area of $ 301,000 and with the "violinada" arrived to test the price area of $ 242.289.

* Violinada" is when a very strong variation in price occurs, both up and down, and returns to the price where it left, and leaves a very large shadow of the candle/sail also. This term refers to the violin, because on the violin, the bow can go up and down quickly to reach the notes quickly.

Now at the time in writing, the Bitcoin price is tracking in the $303,461 price area.

It will be necessary for the Bitcoin price on Braziliex of its continuing consolidations and positive developments upwards from the $296,500 and $300,000 price areas.

The Bitcoin price needs positive developments upwards from the R$ 306,600 price area in the next few sessions in order to get out of a risk area in the short term and return to the negative downside of the R$ 300,000 and R$ 298,440 price areas.

It follows the buyers at Braziliex in attempts to evolve the Bitcoin price above the R$304,500 and still need to protect the price areas of R$298,600 and R$292,500, so that the sellers at Braziliex do not give the continuity of downside below these price areas.

Resistances: R$ 305,569 // R$ 306,764 // R$ 309,281 // R$ 311,319. 

Supports: R$ 301,051 // R$ 298,853 // R$ 286,142 // R$ 293,541.

https://www.tradingview.com/x/qY7EeylO

 

 H4 chart:

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

It will be of extreme importance for the Bitcoin price for the next sessions the necessary advances above the EMA 100 and with that the consolidations will have to be well tapered above it for the positive evolutions to be right above the price areas of U$ 55,120. and U$ 55,500, because now it starts all over again with the attempts to advance above the resistances, remembering that the more a resistance/support is forced the more it weakens.

If the price of Bitcoin fails with the advances above $55.00 and $55,340 the negative corrections could come back below $54,800 and $54,660, where they should remain at least above $54,120 so they don't continue below $53,720.

Buyers are still trying to continue the positive moves above $55,220.

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$ 55,181 // U$ 56,226 // U$ 57,196 // U$ 58,091.

Supports: U$ 54,013 // U$ 53,067 // U$ 52,172 // U$ 51,028.

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

 

H1 Chart:

Bitcoin price is above the EMAs and above the Ichimoku Cloud.

The Bitcoin price needs to "climb" the Ichimoku Cloud to avoid entering the Ichimoku Cloud, as it may then resume negative corrections below $54,220.

Bitcoin price is still above the $54,500 price area and with good consolidations made, where it will have to redo these consolidations above the $54,880 and $55,120 price area for the positive developments to continue for attempts of a new breakout at the $55,500 support, where the possibilities of testing above $56,000 could arise.

If the Bitcoin price fails to make positive advances above U$55,500 and U$56,000 the negative corrections could come back below U$54,780 and U$54,500, or even gain more strength and head below U$53,760.

It follows buyers in an attempt to keep Bitcoin price above U$ 54,660 and need to continue consolidations above this price area to not lose " ground" to sellers below U$ 54,440.

Resistances: U$ 55.108 // U$ 55.687 // U$ 56.112 // U$ 56.606.

Supports: U$ 54.394 // U$ 53.832 // U$ 53.287 // U$ 52.709.

https://www.tradingview.com/x/Csh1Svph/

 

Technical indicators: H4

RSI: The RSI on the H1 chart timeframe for BTC is at the 40 level and with a bearish bias.

https://www.tradingview.com/x/KCerb22N/

MACD: The MACD on BTC's chart time is at the positive 800 level and stabilized.

https://www.tradingview.com/x/vViRhHQ5/

OBV: The OBV on BTC's H1 chart time is at the 2.03 level and stabilized.

https://www.tradingview.com/x/68DMAeLG/

 

M5 chart:

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

Bitcoin price needs to stay above the VWAP in order not to have heavier corrections below it.

Follow the buyers with good positive developments above $54,600, where they could go for a test or even try to break through the $55,700 and $56,000 price area.

https://www.tradingview.com/x/dfst8t4G/

 

Dominance 50.20 %

" Better to make a mistake by blowing yourself up than to save yourself for nothing. "-----

Darcy Ribeiro

 

Continue to follow my analysis through Tradingview as well:

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

 

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nº342

 

 

 

 

 

 

 

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CSM TRADER
CSM TRADER

I'm a graphic analyst


CSM TRADER
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