Bitcoin Price Evolution Analysis 06.04.2021
by CSM TRADER
nº367
BTC price U$ 36.700.
Price USD/BRL R$ 5.07.
Price EUR/BRL R$ 6.15.
Price Gold 1g R$ 313.35
Good morning to all readers
The price of Bitcoin follows me uptrend above the price area of U$ 35,500.
The price of Bitcoin in the sessions managed its positive evolutions above the price areas of U$37,500, U$38,500 and U$39,000, but failed to continue its positive evolutions above U$39,500, where it even tested the price area of U$39,473 and U$39,300.
In the case mentioned above, after the Bitcoin price failed in these positive evolutions upwards of U$39,500, the negative corrections appeared and came strong downwards from U$39,000, U$38,000, U$37,000 and U$36,500, where it has now even tested the U$36,217 price area.
Now at the time of writing the Bitcoin price is tracking in the U$36,680 price area.
The Bitcoin price is going to have to face it all over again to get its positive developments back up above $37,000 and $37,500.
I say; face it all over again, because, the Bitcoin price on the H1 chart is below the EMAs and below the Ichimoku Cloud.
The first step for the Bitcoin price to conquer, will be to make new ground above the $35,880 price area, as it is just above the last bottom formed in the $35,900 price area.
The second stage for the Bitcoin price to conquer, will be to consolidate with the positive evolutions above the EMA 5, and with that, it will gain some time for the EMA 20 (H1) to come closer to give the conditions for the positive evolutions above the U$37,220 and U$37,500.
If the Bitcoin price fails with the positive evolutions and with the consolidations above EMA 5, the negative corrections will appear and with that the turns of the negative corrections could go towards the last bottom formed in the price area of U$35,900 and U$35,600, where below this, the negative corrections could gain more strength and go towards the price areas of U$35,500 and U$35,000.
Only with the constructions of the support bases above the price areas of U$35,800 and U$36,000, for the price of Bitcoin not to enter negative corrections below U$35,500.
For the weekend the Bitcoin price needs to be above the price areas of $37,220 and hold above $36,220 so as not to have the possibilities of negative corrections below $34,500 and $34,000.
A daily close was made above the $39,220 price area.
For today a good close would be above the $37,220 price area.
Sellers remain in control of the situation with the Bitcoin price below the $38,036 price area.
Buyers will have to defend the U$35,800 and U$36,000 price areas at all costs in order to attempt the consolidations necessary for positive developments back above U$37,000.
If buyers fail in this lockout above $35,800, sellers will continue the downside downwards from the $35,500 and $35,000 price areas, where the possibility of advances below $34,880 could arise.
Only a good, strong advance by buyers above $37,000 will start to break out of a risk area of downside created by sellers below $36,000.
Follow the buyers in their attempts to stop the sellers above the $36,500 price area.
H4 chart:
Bitcoin price follows below the EMAs and just above the Ichimoku Cloud.
It will be very important that the Bitcoin price remains above the Ichimoku Cloud, as below it the negative corrections could go below the $36,000 and $35,780 price areas.
The price of Bitcoin needs to return with its consolidations and positive advancements to the $37,120 price area to get out of a risk area of continuing negative corrections to below $36,000.
Buyers continue to attempt positive moves above the $37,000 price area, but are having difficulty moving above $36,880.
If buyers fail in these moves above $37,000, or even above the 20 or 50 EMA, sellers will continue the downside moves below $36,500 and $36,220 for the next few sessions.
Follow the buyers in the attempts of positive developments above $37,000.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin price evolution. Only some adjustments will be made.
Resistances: U$ 36.824 // U$ 37.168 // U$ 37.512 // U$ 37.827.
Supports: U$ 36.357 // U$ 35.984 // U$ 35.660 // U$ 35.249.
https://www.tradingview.com/x/XZrkhc8h/
H1 Chart:
Bitcoin price follows below the EMAs and below the Ichimoku Cloud.
The Bitcoin price continues to consolidate and form the support base above the $36,220 price area.
It will be of utmost importance for the Bitcoin price to continue positive developments above $37,000 and for the Bitcoin price to remain above $36,120 and continue to build the base above $36,000 in order to achieve positive developments above $37,000 and $37,320 for the upcoming sessions.
Bitcoin's price will also need to stay supported above the EMA 5 in the near term if it is not to risk further downside corrections below $36,000.
Buyers continue in their attempts to stay with the Bitcoin price above the EMA 5, where 3 attempts have already been made.
It is of utmost importance that buyers get these positive moves above the EMA 5 for the next session, so as not to let sellers get back to creating the downside below $36,500 and $36,220.
It follows buyers in the fight with sellers for attempts to keep Bitcoin's price above the U$36,500 price area.
Resistances: U$ 36.867// U$ 37.074 // U$ 37.314 // U$ 37.508.
Supports: U$36,519 // U$36,246 // U$35,965 // U$35,711.
https://www.tradingview.com/x/siSrN5iE/
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nº 367
