Bitcoin Price Evolution Analysis 05.27.2021

by CSM TRADER                                                                                                                 

 nº362

 BTC price U$ 39.600.  

BTC price at Braziliex R$ 194.500.

USD/BRL price R$ 5.31.

Price EUR/BRL R$ 6.48.

Price Gold 1g R$ 325.12.

Good morning to all readers.

The price of Bitcoin is following an uptrend above the $37,500 price area.

The price of Bitcoin in the past sessions failed to continue its positive developments upwards from the price areas of $39,500 and $40,000, and with that came the negative corrections downwards from the price areas of $39,000, $38,000 and even testing the price area of $37,131.

After this bottom formed in the price area of U$37,131, the Bitcoin price returned with its positive developments upwards to U$38,000 and U$39,360, where it has already tested the U$39,764 price area.

Now at the time of writing, the Bitcoin price remains in the U$39,630 price area and just above the 200 EMA.

It will be necessary for the Bitcoin price to hold above the 5 and 200 EMAs for the next few sessions, and with that, positive developments upwards from the U$39,880 and U$40,120 price areas may emerge.

If the Bitcoin price were to fail again in these attempts to break out of the U$40,00 and U$40,320 price areas, the negative corrections could come back down from the U$39,000, U$38,000 price areas, and this time make a deeper bottom than its previous one in the U$37,131 price area and go below the U$37,000 and U$36,320 price areas.

Only a good, consolidated positive advance above the U$40,320 price area and with stabilities above this price area, for the Bitcoin price to continue its attempts above U$40,880 and U$41,220.

A daily close was made above the U$39,240 price area.

For today it would be very important for the continuation of positive developments a close above the $39,780 price area or even above $40,000.

Buyers remain in control of the situation above the $38,577 price area.

If buyers fail or become exhausted by attempts to move above $40,000 and $40,500, sellers will regain control of the situation and will create the downside below $39,500 and $38,320.

Follow the buyers in the attempts of the positive developments upwards of U$39,880 and U$40,120.

Bitcoin TODAY at Braziliex: H1

The price of Bitcoin today on Braziliex follows a downtrend below the $210,000 price area.

The Bitcoin price on Braziliex in the past sessions, attempted the advances upwards of the R$210,000 and R$212,000 price areas, but came up short.

In the case mentioned above, after the Bitcoin price on Braziliex failed to make these advances upwards of the R$210,000, the negative corrections appeared and turned downwards from the R$190,000 price areas and even making a higher bottom than its previous one in the R$1888,000 price area.

Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$ 194,700 price area.

It will be necessary for the Bitcoin price on Braziliex to hold for the next few sessions on consolidations above the R$192,000 price area so as not to open a new bottom below R$188,000 and go below R$180,000.

Only a good, consolidated advance above R$198,500 and R$204,680 for the Bitcoin price to break out of a risk area of further downside corrections to below R$193,660.

Sellers at Braziliex remain in control of the situation below the R$200,000 price area.

It will be necessary for buyers on Braziliex the positive developments above the R$ 200,000 and R$ 206,360 for the next few sessions.

If buyers on Braziliex fail again at these positive moves above the R$200,000 level sellers on Braziliex will continue the downside moves below the R$192,000 and R$189,000 level.

Follow the buyers on Braziliex in the attempts of the positive evolutions above the R$ 200,000.

Resistances: R$ 197,657 // R$ 201,469 // R$ 204,181 // R$ 206,674. 

Supports: R$ 194,212 // R$ 191,426 // R$ 188,494 // R$ 185,635.

https://www.tradingview.com/x/ztrhe7g8

H4 chart:

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

It will be important for the next few sessions for the Bitcoin price to break above the Ichimoku Cloud so that continuations and attempts at positive advances above $40,320 can occur and attempts at breaking the $40,500 resistance can emerge.

If the Bitcoin price succeeds in this break of $40,500 the positive developments could continue above $41,220 and with that, a new price level and consolidations will appear.

If the Bitcoin price fails in these attempts of positive advances above $40,000 and $40,500, the negative corrections could come back below $40,000, $39,000, and $38,660, where a stop above $37,780 will be mandatory to avoid the continuation of negative corrections below $37,000 and $36,500.

The buyers continue with good positive moves above $39,340 and try the positive moves above $40,000.

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$ 39,845 // U$ 40,932 // U$ 42,382 // U$ 44,014.

Supports: U$ 39,029 // U$ 37,881 // U$ 36,914 // U$ 35,797.

https://www.tradingview.com/x/6tu7WfD3/

H1 chart:

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

It will be important for the Bitcoin price to remain supported above the 200 EMA for the next few sessions until the EMA 5 crosses above the 200 EMA and with that the possibilities of the positive advances will continue above the $40.00 and $40,500.

If the Bitcoin price will correct downwards it will need to stay at least above the $39,120 price area or even above the EMA 20 and above the Ichimoku Cloud, because below this price area or even inside the Ichimoku Cloud; the downside corrections could follow below $38,220 and $38,000 again and extend below $37,500.

Follow the buyers in an attempt to keep the Bitcoin price above the 200 EMA and give the positive developments continuities above the U$40,000 resistance.

Resistances: U$ 39,984 // U$ 40,470 // U$ 40,940 // U$ 41,393.

Supports: U$ 39,582 // U$ 39,079 // U$ 38,643 // U$ 38,056.

https://www.tradingview.com/x/fdUAsgh8/

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Nº362