Bitcoin Price Evolution Analysis 05.24.2021

by CSM TRADER                                                                                                                 

 nº360

 BTC price U$ 36.400.  

BTC price at Braziliex R$ 202.000.

USD/BRL price R$ 5.36.

Price EUR/BRL R$ 6.54.

Price Gold 1g R$ 319.78.

Good morning to all readers.

The price of Bitcoin follows me uptrend above the price area of U$ 31,108, but still follows below the EMA 100 (H1).

The price of Bitcoin this weekend 23 and 23/05/2021, not achieving its positive advances above the U$ 39,000 came the negative corrections down the price areas of U$ 38,500, U$ 38,000, U$ 37,000, U$ 34,000 and even testing the price area of U$ 31,108, where it regained strength and returned to above the U$ 35,500.

Now at the time of writing, the Bitcoin price is tracking in the U$36,280 price area.

It will be necessary for the Bitcoin price to continue its consolidations above the U$35,760 price area, or even above the EMA 50 (H1), in order for it to achieve the necessary evolutions to go above the U$37,000 and U$37,500 price areas where the Bitcoin price should enter new consolidations above U$37,220 so that possible evolutions above U$38,500 and U$39,000 can emerge.

If the Bitcoin price manages to break through U$39,360 the possibilities of attempted evolutions upwards of U$40,000 and U$41,000 could appear.

On the other hand, if the Bitcoin price fails to make positive moves above $39,000 or even above $38,220, negative corrections could come back below the $36,000 and $34,000 price areas and look for the last bottom formed in the $31,108 price area.

In this case, the ideal would be that the price of Bitcoin would make a higher bottom than its previous one; that is, above the price area of U$33,485 so that with this, the bases below this price area will become stronger and will be able to support the "stooges" for the attempts to continue the negative corrections below the U$29,999; because below this price area, the negative corrections could go in search of a new bottom in the price area of U$26,220 and U$23,470.

Only a good and consolidated advance in the Bitcoin price above the EMA 100 (H1) and with stabilities above it, for the Bitcoin price to achieve the good positive evolutions and attempts above U$ 38,000, U$ 39,000 and U$ 39,660, could arise.

Buyers remain in control of the situation above the $34,500 price area and above the EMA 50 (H1).

Buyers will have to keep Bitcoin's price above the EMA 50 (H1) so that sellers can't play the Bitcoin price below it.

If sellers manage to open a candle below the EMA 50 (H1) for the next few sessions, they will continue the downside below $35,500 and $35,000, where they may gain more strength and extend the downside below $34,660 and $34,220.

It will be of extreme importance for buyers to follow the positive developments above the 100 EMA (H1) or even above the $37,360 for the next few sessions, to get out of a risk area of downside created by sellers below the $35,000.

It follows the buyers in the fight with the sellers to try to keep the Bitcoin price above the EMA 50 (H1), or above the $35,780 price area.

Bitcoin TODAY at Braziliex: H1

Bitcoin price today at Braziliex continues in a downtrend below the R$200,000 price area.

The Bitcoin price on Braziliex this weekend, stayed in consolidations between the price areas of R$208,000 and R$192,000, where it even tested the R$214,700 price area and the price area below R$200,000, even making a test at R$174,799.

Now at the time of writing, the price of Bitcoin at Braziliex, follows in the price area of $ 201,996.

The Bitcoin price at Braziliex needs the continuities of positive developments upwards from the R$188,800 and R$200,000 price areas for the continuities of positive developments for the positive advancement attempts upwards of R$210,000 to emerge.

If the Bitcoin price on Braziliex fails again in these attempts of the positive evolutions upwards from the R$210,00 and R$214,220, the negative corrections will appear and go below the R$200,000 and R$196,500 price areas, where the possibilities of a test below the last bottom formed in the R$174,799 price area could occur.

Follow the buyers in the attempts of the positive developments above the R$ 206,420 in the short term.

Resistances: R$ 204,600 // R$ 207,457 // R$ 209,445 // R$ 211,727. 

Supports: R$ 200,841 // R$ 198,191 // R$ 195,836 // R$ 193,259.

https://www.tradingview.com/x/k8cPJzDC

H4 chart:

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

It will be of utmost importance that the Bitcoin price continues its new consolidations above the EMA 20 (yellow line) so that positive developments above $37,660 and $38,000 can occur.

The Bitcoin price needs to achieve the necessary positive advances above $37,780 so that the attempts of positive advances above the strong resistance of $38,000 can be overcome, and with that, the attempts of positive advances above $39,220 can emerge.

If the Bitcoin price should fail to stay above the EMA 20 for the next few sessions, negative corrections could emerge again below $35,500 and $35,000.

Follow the buyers with attempts to maintain and continue the Bitcoin price above the EMA 20 and positive advances above $37,500.

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

Resistances: U$ 37,482 // U$ 38,602 // U$ 39,850 // U$ 41,185.

Supports: U$ 35,673 // U$ 34,468 // U$ 32,558 // U$ 30,741.

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

 H1 chart:

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

Bitcoin price follows in an attempt for a candle close above the EMA 100 where it is now at the time of writing.

If the Bitcoin price manages to open the next candle above the EMA 100, the possibilities of continued positive advances above U$37,780 and U$38,000, could emerge and still go for a test of breaking through the U$39,000 price area again; where there have already been rejections in past sessions.

Now, if the Bitcoin price does not again get the necessary advances above $39,000; the negative corrections could go back below $37,000, $36,000, $35,000 and still extend below $34,220.

Buyers are managing the necessary moves above the EMA 100 (white line) where it will be of utmost importance to continue the positive moves for the next sessions above it.

If the buyers fail to keep the Bitcoin price above the EMA 100, the sellers will take advantage of the situation and get into full control of the situation where they can create the downsides to below the UJ$37,000, U$35,000 price areas where a test down to the U$34,500 will want.

Follow the buyers in attempts to keep the Bitcoin price above the EMA 100 for the next few sessions; which will be paramount for continued bullishness above U$35,500.

Resistances: U$ 38,304 // U$ 39,193 // U$ 39,922 // U$ 40,765.

Supports: U$ 36,891 // U$ 36,162 // U$ 35,364 // U$ 34,521.

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

Technical indicators: H4

RSI: The RSI on BTC's H1 chart timeframe is at the 91 level and with a bullish bias.

https://www.tradingview.com/x/3LLO8B7g/

MACD: The MACD on BTC's chart time is at the negative level - 1390 and with a bullish bias.

https://www.tradingview.com/x/ZeCzP4pX/

OBV: The OBV on BTC's H1 chart time is at the 1.77 level and with a bullish bias.

https://www.tradingview.com/x/DcPs0tER/

M5 chart:

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

The price of Bitcoin needs to continue its positive developments above the Ichimoku Cloud; as below the Ichimoku Cloud negative corrections could be much larger.

Follow the buyers in the attempts of the positive evolutions towards the $38,000.

https://www.tradingview.com/x/Tr6pg9bT/

Dominance   46.09%

" Every human action, whether it becomes positive or negative, needs to depend on motivation. " ----- Dalai Lama.

Continue to follow my analysis also on Tradingview:

https://br.tradingview.com/chart/BTCUSDT/fc1XQSXp/

Register at Braziliex and feel at home:

https://braziliex.com/?ref=87C5DFE2B009FA4E47917BD7639263A5

Follow my analysis on Twitter: https://twitter.com/BraziliexTrades?s=20

Follow my analysis on Twitter: https://twitter.com/CSM_Trader

Follow My Review on Instagram: https://instagram.com/braziliex

Follow My Review on Facebook: https://www.facebook.com/braziliex/

Follow my Review on Flipboard: https://flipboard.com/@CSMTRADER007

Follow my review on publish0x: https://www.publish0x.com?a=nXe0RKLGbx

With the BRZX Token you can:

💰Sell for Bitcoin on Braziliex

💸 Keep in your account to get discounts on fees

Make your registration and earn BRZX Token:

 https://braziliex.com/?ref=87C5DFE2B009FA4E47917BD7639263A5

Make your free card with Bitcoin cashback on spending from R$10. No need for partners.

By registering with the link you will earn more BTC on your purchases.

https://www.soualter.com.br/abra-sua-conta?c=CHRISTIAN14

nº360