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Bitcoin Price Evolution Analysis 05.14.2021

By CSM TRADER | CSM TRADER | 14 May 2021


Bitcoin Price Evolution Analysis 05.14.2021

by CSM TRADER                                                                                                                

 nº354

 BTC price U$ 50.290.  

BTC price at Braziliex R$ 269.989.

USD/BRL price R$ 5.30.

Price EUR/BRL R$L 6.42.

Price Gold 1g R$ 309.91.

 

Good morning to all readers.

The Bitcoin price is still in an uptrend above the last bottom formed in the $46,998 price area and above the EMAs 5 and 20.

The Bitcoin price in the past sessions once attempted positive advances above the $51,000 price area; but without success.

In the case mentioned above, after the Bitcoin price failed to break above the $51,000 price area, it went into negative corrections that went below $49,000, $48,000, and $47,000 and even tested the $46,998 price area.

It then consolidated back above the U$48,800 and U$49,880 price areas.

Now at the time of writing, the Bitcoin price is tracking in the U$50,300 price area.

The Bitcoin price needs to break through the U$50,900 and U$51,120 price area, for positive developments and consolidations to fortify above U$50,780.

The big problem now for the Bitcoin price will be to get its positive moves back above the Ichimoku Cloud which is just above the $50,900 resistance and further up is the upper BB line and EMA 50 (H1).

If the Bitcoin price makes positive advances above $51,220 it will still face strong resistance at $51,500.

Only with good consolidations and base building above $49,800 will the Bitcoin price be able to make good, solid advances above $51,120, and attempts to break the $51,500 could emerge and extend to attempts to break the next resistance of $52,000.

If the Bitcoin price were to fail in these developments upwards of U$ 51,000 and U$ 51,500 in the short term, negative corrections could again follow below the U$ 49,780 and U$ 49,000 price areas, where a small support has already been built up.

The possibilities of a comeback at the last formed bottom, at the U$ 46,998 price area, are not yet unleashed.

The Bitcoin price needs these advances above the EMA 50 (H1) to break out of a price of possible turns of the negative corrections the next few sessions.

It will be and extreme importance of a Weekly close at least above $52,000.

It was even made a good closing of the daily above $49,000.

For today it would be important to close above the $50,120 price area.

 

Buyers are in control of the situation above the BB centerline.

Buyers continue with the Bitcoin price above the $50,000 price area, where they are attempting positive moves above $50,9000 and $51,220 for the next few sessions.

It will be of extreme importance for buyers these positive moves above $51220 for the next few sessions.

Buyers will have to create a good base above the $50,500 price area, so that attempts to break through the $51,500 price area can take place, that is, if they can first move above $51,220.

If buyers fail to make positive moves above $51,220 and $51,500, sellers will take control of the situation and this time they can push Bitcoin's price back below $49,000 and even extend the downside below $48,500 and $48,000.

Buyers follow in attempts at consolidations above $50,200 and positive advances above $50,500 and $50,780 in the near term.

 

Bitcoin TODAY at Braziliex: H1

Bitcoin price at Braziliex today, continues in a downtrend below the R$300,000 price area.

The price of Bitcoin on Braziliex follows in strong consolidations between the R$260,190 and R$272,030 price areas.

It will take the Bitcoin price on Braziliex to hold above the R$ 256,260 price areas to enter into heavier corrections below this price area.

The Bitcoin price on Braziliex needs the positive developments above R$275,320 for the next few sessions; to start a new phase of consolidations and begin the attempts of positive developments above R$282,120 and R$286,800.

If the Bitcoin price fails to move above the $280,000 level, the negative corrections could emerge again and return below the $275,000 and $267,800 price areas.

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

Buyers will have to build very solid foundations as they climb above the $280,000.

If buyers fail for the next few sessions in their attempts at positive advances above the $280,000 and $282,320, sellers will continue the downside down below the $275,000 and $268,500.

Follow the buyers in Braziliex in the attempt of the developments upwards of the price areas of R$270,000 and R$272,660.

Resistances: R$ 272,000 // R$ 274,696 // R$ 277,462 // R$ 279,826. 

Supports: R$ 268,004 // R$ 264,744 // R$ 261,102 // R$ 257,843.

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

 

H4 chart:

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

It will be important that the Bitcoin price remains above the EMA 5 for the next few sessions, and with that, the possibilities the possibilities of consolidations will be made.

While these consolidations will be made the EMA 20 will go down and the next step for the Bitcoin price will be to go above the EMA 20 and make new consolidations above it again for the possible developments above the $51,500.

If the Bitcoin price fails to stay above the EMA 5, corrections will return and with that it could extend below $50,000 again.

Buyers continue to attempt positive moves above $50,900 and $51,000.

If buyers fail in these positive evolutions above the $51,000, sellers will continue to control the situation where they could come back with the downside below the $50,000 and $49,660.

Buyers continue to attempt positive developments above the $51,000 price area.

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$ 50,982 // U$ 51,875 // U$ 52,860 // U$ 53,662.

Supports: U$ 49,951 // U$ 49,057 // U$ 48,302 // U$ 47,156.

https://www.tradingview.com/x/NyWNQTA2/

 

H1 chart:

The Bitcoin price follows above the EMAs 5 and 20, but follows below the EMAS 50, 100 and 200 and is a little below the Ichimoku Cloud.

It will be necessary for the Bitcoin price to continue its consolidations and positive developments above the 5 and 20 EMAs (green and yellow), so that possible continuations of positive developments above $51,000 and $51,220 can emerge and still go for a test at the $51,500 resistance.

If the Bitcoin price fails in the short term to continue the positive developments above $51,000 and $51,220 the negative corrections could come back below $50,120 and $50,000 and even extend below $49,780.

It follows buyers for now showing their strength in keeping Bitcoin's price above the EMA 50 or above $50,500.

The buyers need to continue the positive developments above $51,000, because if they fail the sellers will take control of the situation and create the downside below $50,000 and $49,780.

Follow the buyers in the attempts of the positive evolutions above the U$51,000.

Resistances: US$ 51,077 // US$ 51,966 // US$ 52,723 // US$ 53,512.

Supports: U$ 50,281 // U$ 49,393 // U$ 48,480 // U$ 47,615.

https://www.tradingview.com/x/v76Pba15/

 

Technical indicators: H4

RSI: The RSI on the H1 chart timeframe for BTC is at the 36 level and with a bullish bias.

https://www.tradingview.com/x/g72hREkF/

MACD: The MACD on BTC's chart time is at the negative level -1953 and with a bullish bias.

https://www.tradingview.com/x/FDJSYM04/

OBV: The OBV on BTC's H1 chart time is at the 2.00 level and has a bullish bias.

https://www.tradingview.com/x/4q0e24YY/

 

M5 chart:

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

Bitcoin's price needs to stay above the Ichimoku Cloud in the short term to avoid negative corrections below $50,360 and $50,120.

Buyers continue to look for positive advances above $51,000.

https://www.tradingview.com/x/MGZl2H3S/

 

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nº354

 

 

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CSM TRADER
CSM TRADER

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CSM TRADER
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