Bitcoin Price Evolution Analysis 05.26.2021

by CSM TRADER                                                                                                                 

 nº361

 BTC price U$ 39.650.  

BTC price at Braziliex R$ 210.000.

USD/BRL price R$ 5.33.

Price EUR/BRL R$ 6.52.

Price Gold 1g R$ 323.21.

Good morning to all readers.

Bitcoin price is still in an uptrend above the U$37,560 price area and above the 100 EMA (H1).

The Bitcoin price in the past sessions made a double bottom between the U$36,400 and U$37,100 price areas, and came back with its positive developments above U$37,500, U$38,000 and U$39,000, even testing the U$40,901 price area and above the EMA 200 (H1).

Now at the time of writing, the Bitcoin price is tracking in the U$39,700 price area.

The Bitcoin price needs to give the continuation of consolidations and positive developments above the U$39,000 and U$38,760 price areas, for the continuation of attempts of the positive advances above U$40,500 and U$41,220, for the coming sessions.

If the Bitcoin price fails to move above $40,500 or even $41,000, the negative corrections will appear, and with that, the negative corrections may appear and go back below $39,000 and $38,500, where it will have to stay above the $38,200 support in order not to have the continuity of the positive moves below $38,000 and $37,660.

Only a good and consolidated advance back above $40,500 and staying above the EMA 20 (H1), for the Bitcoin price to leave a risk area of possible corrections below $38,500.

A daily close was made above the $38,320 price area.

For today a daily close above the $38,880 price area would be important.

Buyers remain in control of the situation above the $38,600 price area.

Buyers need to hold the price of Bitcoin above the $38,120 price area so that sellers are unable to continue the positive developments below $38,000 and extend these downside below $37,780 and $37,320.

If buyers manage to keep the Bitcoin price in consolidations above $38,880 positive developments will appear and attempts at positive advances above $40,500 will emerge.

Follow the buyers in their attempts to maintain the Bitcoin price

Bitcoin TODAY at Braziliex: H1

The Bitcoin price on Braziliex today, continues in an uptrend above the last bottom formed in the $165,523 price area.

The Bitcoin price at Braziliex needs to stay above the R$186,600 price area for the next few sessions so as not to have the attempts of a retest in the R$165,523 price area and with that could open a new bottom below the R$162,320.

If the Bitcoin price on Braziliex remains in consolidations above the R$196,600 price area, positive developments could continue above the R$200,000 and R$206,780 price areas where the possibilities of positive advances above the R$210,000 price area could arise for the next few sessions.

The buyers in Braziliex continue to control the situation above the R$200,000 price area.

It will be important for buyers on the Braziliex to continue consolidations and positive moves above the R$200,000 and R$212,500.

If the buyers fail to keep the Bitcoin price above the R$200,000, the sellers on Braziliex will get in control of the situation again where they can create the downsides to below the R$196,660 and R$188,260.

Follow the buyers on Braziliex in the attempts of the positive advancements above R$210,000.

Resistances: R$ 210,408 // R$ 216,430 // R$ 222,069 // R$ 225,496. 

Supports: R$ 202,404 // R$ 196,090 // R$ 190,497 // R$ 184,437.

https://www.tradingview.com/x/lPgb7VGC

H4 chart:

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

It will be of utmost importance that the Bitcoin price breaks out above the Ichimoku Cloud in order to continue the positive developments above $40,500 and thus look for a breakout in the $41,220 price area.

If the Bitcoin price fails and falls below the EMA 50 the negative corrections could appear and go below $38,660 and $38,120.

Add this positive advance above the Ichimoku Cloud for the Bitcoin price to return with its positive developments above $40,000.

Follow the buyers in an attempt to keep the Bitcoin price above the 50 EMA.

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

Resistances: U$ 40.899 // U$ 41.988 // U$ 42.892 // U$ 43.628.

Supports: U$ 39,412 // U$ 38,308 // U$ 37,237 // U$ 36,334.

https://www.tradingview.com/x/jld3GVW5/

 H1 chart:

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

The Bitcoin price for the coming sessions needs to return above the EMA 5 for the positive developments to continue above $40,000 and $40,320 where the possibilities of the continuation of the positive developments above $41,000 and $41,420 could arise.

If the Bitcoin price falls below the 200 EMA for the next few sessions, the downside corrections could continue below $39,320 and it will have to stay above the 20 EMA, as below the 20 EMA the corrections will gain strength where they could go below $38,000.

Buyers still remain in control of the situation staying above the BB centerline or even above $38,880.

If buyers lose this $38,800 and $38,220 price area, sellers will take control of the situation where they could create the downside below $38,000 and $37,660.

Follow the buyers in their attempts to evolve the Bitcoin price upwards of U$39,800 and U$40,000.

Resistances: U$ 39,847 // U$ 40,163 // U$ 40,547 // U$ 40,863.

Brackets: U$ 39,542 // U$ 39,177 // U$ 38,822 // U$ 38,507.

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

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Nº 361