Bitcoin Price Evolution Analysis 05.28.2021
by CSM TRADER
nº363
BTC price U$ 35.846.
BTC price at Braziliex R$ 191.100.
USD/BRL price R$ 5.22.
Price EUR/BRL R$ 6.37.
Price Gold 1g R$ 321.36.

Good morning to all readers.
Bitcoin price follows me in a downtrend below the $37,000 price area.
Bitcoin price in the past sessions tried to advance above the $40,500 price area, but without success.
A Double Top (H1) pattern was made with the first top at $40,904 and the second top at $40,438, as I always write; the market is not forgiving of Double Tops, and stronger downside corrections came.
These corrections came down from the price areas of $39,000, $38,000, $37,000, and $36,500, just now testing the $35,334 price area.
Now at the time of writing, the Bitcoin price is in the U$36,030 price area.
The Bitcoin price would need good positive moves above the U$36,500 and U$37,000 price area for stability and consolidation above them, where possible turns above U$38,120 could emerge.
But it seems that the Bitcoin price is still struggling from the positive advances above U$36,420 and U$36,500.
If the Bitcoin price does not achieve these positive advances above $36,500 for the next few sessions, more downside corrections could come below $35,500 and $35,000 where the possibilities of continued downside corrections below $34,500 and $33,880 could arise, and also go for a test at the second bottom in the $31,094 price area, as after this we have the $28,687 bottom, where the probabilities and a test at this bottom for a double bottom to be formed could occur.
Only a good strong positive price move up EMA 20 and or even above U$37,000 for the Bitcoin price to get out of a risk area of further negative corrections to below U$35,500.
A daily close was made above the U$38,300 price area.
For today a daily close above the $36,220 or $37,000 price area would be of extreme importance.

Follow the sellers in control of the situation with the Bitcoin price below the $37,000 price area.
The buyers have failed to continue the positive developments above $40,500 and have lost control of the situation.
Sellers appear to be looking for the bottom of $31,094, where the odds of these continuations downward from this price area could happen.
It follows the buyers trying to hinder the downside created by the sellers to below U$35,000.

Bitcoin TODAY in Braziliex: H1
The price of Bitcoin today at Braziliex, continues in a downtrend below the $197,500 price area.
The Bitcoin price on Braziliex in past sessions has once again attempted the positive moves upwards from the R$205,000 price area, where it failed and with that came the negative corrections.
These negative corrections came down from the R$200,000, R$192,000 and R$190,000 price areas.
Now at the time of writing the Bitcoin price is tracking in the R$185,000 price area.
If the Bitcoin price on Braziliex does not get the positive advances back above the R$ 190,000 and R$ 194,400 for the next few sessions; the negative corrections could continue down to the R$ 182,220 and R$ 174,500 for the next few sessions.
Only a good and consolidated positive advance above R$ 196,780 for the Bitcoin price at Braziliex to get out of a risk area of continued negative corrections below R$ 180,000.
Follow buyers on Braziliex in attempts to bar sellers on Braziliex above the R$180,000 price area, as below that sellers on Braziliex will gain more strength and go for R$174,500.
Resistances: R$ 191,184 // R$ 197,523 // R$ 204,746 // R$ 210,247.
Supports: R$ 185,140 // R$ 179,686 // R$ 176,001 // R$ 171,574.
https://www.tradingview.com/x/BrxuoCAk

H4 chart:
Bitcoin price follows below the EMAs and below the Ichimoku Cloud.
The price of Bitcoin is trending down below the $36,000 price area.
The Bitcoin price would need a pullback above $36,500 and with the consolidations above it for the twists of the positive developments attempts to move above $37,120.
Now at the time of writing, the Bitcoin price is already in the $35,300 price area and it seems that the continuities of the negative corrections down to the $35,000 and $34,000 could be confirmed for the next few sessions, and still the probabilities of a search for the $30,000 could occur.
Sellers remain strong in control of the situation and seem to want to continue the downside below $35,000 and $34,500 for the next few sessions.
Only a good advance by buyers above $36,500 to get out of a risk area of more downside created by sellers below $35,000.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistances: U$ 36,492 // U$ 37,459 // U$ 38,793 // U$ 39,894.
Supports: U$34,991 // U$33,657 // U$31,623 // U$30,355.
https://www.tradingview.com/x/jqq68m8f/

H1 chart:
Bitcoin price follows below the EMAs and below the Ichimoku Cloud.
Bitcoin's price follows well below the 100 EMA and below the Ichimoku Cloud.
It will be important for possible turns of positive developments that the Bitcoin price stays supported above the EMA 5 for a few sessions, so that consolidations are made above it.
If the Bitcoin price remains below the EMA 5 or even below the $36,500 the negative corrections will continue below the $35,500 and $35,000.
Just now the Bitcoin price tested the $35,119 price area and is now in the $35,900 price area where it attempts a recovery above $36,120 and the EMA 5.
Buyers are in attempts and a recovery to above the U$36,500 price area where they will have to hold above U$36,000 for the next few sessions so that sellers do not come back with their downside to below U$35,500 and U$35,000.
Resistances: U$36,700 // U$37,320 // U$37,904 // U$38,524.
Brackets: U$ 35,934 // U$ 35,369 // U$ 34,694 // U$ 34,111.
https://www.tradingview.com/x/qcbClQ8G/

Dominance 44,70%
" If you develop the habits of success, you will make success a habit. " ------ Michael E. Angier

Continue to follow my analysis also on Tradingview:
https://br.tradingview.com/chart/BTCUSDTPERP/E0GwHMgL/

Follow my analysis on Twitter: https://twitter.com/CSM_Trader
Follow my analysis on Flipboard: https://flipboard.com/@CSMTRADER007
Follow my analysis on publish0x: https://www.publish0x.com?a=nXe0RKLGbx
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
Nº 363