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Bitcoin Price Evolution Analysis 04.30.2021

By CSM TRADER | CSM TRADER | 30 Apr 2021


Bitcoin Price Evolution Analysis 04.30.2021

by CSM TRADER                                                                                                                

 nº344

 BTC price U$ 54.356.  

BTC price at Braziliex R$ 292.986.

USD/BRL price R$ 5.33. 

Price EUR/BRL R$ 6.45.

Price Gold 1g R$ 304.86.

 

Good morning to all readers.

The price of ETH made a new ATH on reaching the asking price area of $2,803.

The ETH price is still above the EMA 100 (H1) and needs to continue its positive developments, as it still seems to have "gas" to go above $3,000 for the next sessions.

If the above mentioned case does not happen, the price of ETH will have strong support in the $2,650 price area, where below this the corrections could be much larger.

 

The Bitcoin price is still in an uptrend above the $51,500 price area and above the 100 EMA (H1).

The price of Bitcoin a few sessions ago, failed to make the sequences of positive developments above the price areas of $54,500 and $55,000, and with that the negative corrections came and went below the price areas of $54,000 and $53,000, even testing the price area of $52,330.

Now at the time of writing the Bitcoin price is tracking above the EMA 100 (H1) and above the U$54,220 price area, after its resumption of the negative corrections at the U$52,330 price area.

It will be necessary for the Bitcoin price of its continuation of consolidations and positive developments above the price area of U$53,800, as below this price area the corrections could extend below U$53. 000, and retest at the price area of U$ 52,330, or even, go further below U$ 52,000 and U$ 51,660, where at U$ 51,500 will be a strong support to be broken, if it is broken, the negative corrections will give the sequences to the price areas of U$ 49,500 and U$ 48,880.

If the Bitcoin price continues the consolidations above $54,120 the odds of advances upwards from the $54,500 and $55,000 support could emerge for the next few sessions, and then the $55,500 resistance will be the "ball of the turn".

Only a strong, consolidated advance above $55,500 and $55,780 for the Bitcoin price to start entering the $56,000 price area.

A daily close has been made above the $53,550 price area.

For today a daily close above the $54,780 price area would be nice; but ideally a close above $55,120.

And the Monthly will have to close above the $53,268 price area in order for the bullish possibility to continue above $52,500.

 

Buyers have regained control of the situation, but are still in areas of risk of getting the downside created by sellers back below $54,000 and $53,500.

Only a good breakthrough above the strong resistance of U$54,500 and U$55,000, for buyers to be able to work the Bitcoin price into the breakout attempts and breakthroughs will give the continuation of the positive breakthroughs above U$55,550 and U$55,780.

If the sellers manage to get into control of the situation before U$55,000 the downside created by them could extend below U$54,000, U$53,000 where a retest of the U$52,500 price area could emerge.

Follow the buyers in their consolidations and attempts to keep the Bitcoin price above the U$ 54,200 and need to give the sequence of the positive developments upwards of U$ 54,500 and U$ 54,880 for the next sessions, so as not to go into exhaustion and lose the "streetcar".

 

Bitcoin TODAY at Braziliex: H1

Bitcoin price today on Braziliex is still trending down below the R$300,000 price area.

The price of Bitcoin at Braziliex is failing to get the consolidations needed to follow through above the R$300,000 and R$304,220 price area, and thus back below the R$300,000 where it has already tested the R$280,000 price area.

Now at the time of writing the price of Bitcoin on Braziliex, follows in the price area of $ 293,927 and needs to continue the positive developments above $ 300,000 for the next sessions, because if it continues the attempts to move above $ 300,000 and does not succeed, the price of Bitcoin on Braziliex may enter into negative corrections again and this time go in search of a new bottom below the bottom of $ 280,000.

If the Bitcoin price on Braziliex succeeds in making the positive advances above the R$300,000, consolidations will need to be made above the R$302,360 level for the Bitcoin price on Braziliex to get out of a risk area of returning to negative corrections below the R$292,220 level.

It follows the buyers on Braziliex in attempts for a resumption in control of the situation above the R$ 290,000 and where they still need to protect the R$ 286,000 price area to not have the downside continuities created by the sellers below the R$ 282,000 and R$ 278,880.

Resistances: R$ 294,060 // R$ 296,831 // R$ 299,469 // R$ 302,372. 

Supports: R$ 289,574 // R$ 286,183 // R$ 283,148 // R$ 280,180.

https://www.tradingview.com/x/rNsRG51T

 

H4 chart:

Bitcoin price is tracking above the 5, 20 and 50 EMAs, however, it is tracking slightly below the 100 and 200 EMAs and coming out above the red Ichimoku Cloud.

It will be important that the Bitcoin price gets its positive moves above the 100 EMA for further consolidations above it and with that the possibilities of positive moves above $55,450 could arise.

If the Bitcoin price fails to break through the $54,500 price area which already seems to be losing strength; the downside corrections could come back below $54,220 and $54,000 and could even extend these downside corrections back to the support formed in the $52,330 price area.

It will be of utmost importance that the Bitcoin price stays above the EMA 20 for the next few sessions.

It follows buyers in the difficulty of evolutions above $54,500 and still need to keep the Bitcoin price above $54,000 to not have further disadvantages created by sellers below $53,780.

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$ 54,875 // U$ 55,563 // U$ 56,393 // U$ 57,000.

Supports: U$ 53,884 // U$ 53,074 // U$ 52,265 // U$ 51,374.

https://www.tradingview.com/x/4x3DwUas/

 

H1 Chart:

The Bitcoin price follows above the EMAs, however it follows a bit below the Ichimoku Cloud.

It will be important in the near term for the Bitcoin price to regain support above the EMA 5 so that positive developments can return to attempts to break through $54,500, which seems to be very difficult for the Bitcoin price to break through this price area in the near term.

The Bitcoin price still needs to enter the Ichimoku Cloud and break out above it for the positive developments and consolidations to take place above it, and with that, the possibilities of breaking through the $55,500 could return.

If the Bitcoin price fails in the short term with the evolutions above $54,500 and $55,000, the negative corrections could come back below $54,220 and $53,780, where a stop above $53,120 will be mandatory in order not to have the continuity of the negative corrections below $53,000 and $52,120.

Follow the buyers in the attempts of positive evolutions above U$ 54,500.

Resistances: U$ 54.527 // U$ 54.801 // U$ 55.040 // U$ 55.375.

Supports: U$54,042 // U$53,750 // U$53,432 // U$53,044.

https://www.tradingview.com/x/rusT1nm0/

 

Technical indicators: H4

RSI: The RSI on BTC's H1 chart timeframe is at the 48 level and with bullish bias.

https://www.tradingview.com/x/FA9c9QN2/

MACD: The MACD on BTC's chart time is at positive level 226 and stabilized.

https://www.tradingview.com/x/7209g7H9/

OBV: The OBV on BTC's H1 chart time is at the 2.03 level and with a bullish bias.

https://www.tradingview.com/x/WXUTNy9W/

 

M5 chart:

Bitcoin price is tracking above the VWAP, however it is still below the BB centerline and below the Ichimoku Cloud.

Only a good and strong advance in the Bitcoin price in the short term to above the Ichimoku Cloud to get it out of a risk area of further corrections, which could touch there at the VWAP.

Follow the buyers in the difficulty of developments above the U$ 54,500.

https://www.tradingview.com/x/u9xqgN4y/

 

Dominance of 48.82%

" Give money, don't lend. Giving only makes ingrates, lending makes enemies. " ------- Alexandre Dumas (son)

 

Continue to follow my analysis also on Tradingview:

https://br.tradingview.com/chart/BTCUSDT/0GVekHGG/

 

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nº344

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CSM TRADER
CSM TRADER

I'm a graphic analyst


CSM TRADER
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