Bitcoin Price Evolution Analysis 06.15.2021

by CSM TRADER                                                                                                                

 nº374

BTC price U$ 40.007.  

USD/BRL price R$ 5.06.

Price EUR/BRL R$ 6.13.

Price Gold 1g R$ 303.78.

Good morning to all readers.

Bitcoin price is still in an uptrend above the U$38,500 price area and the EMA 50 and 100 (H1).

The Bitcoin price in the past sessions has continued its consolidations between the U$39,400 and U$40,460 price areas.

It will be necessary for the Bitcoin price to continue consolidations and positive advances above the $38,500 price area so that attempts to continue positive developments above $40,500 and $40,880 can emerge and move up into the $41,000 and $41,220 price areas.

If the Bitcoin price achieves the necessary positive advancements above $41,380 and $41,800, the odds of continuities of positive advancements above $42,000 will emerge; where continuities of positive developments towards a pursuit of $45,000 may occur.

If the Bitcoin price fails in these developments above $40,500, negative corrections could arise and go below $39,800 and $39,220, where a search for the EMA 50 could occur.

The Bitcoin price now for the next few sessions, will have to scale the Green Ichimoku Cloud on the outside, to make its continued positive advances upwards of U$40,220 and U$40,380.

If Bitcoin fails to advance above the resistance of U$41,000, it could begin a downside correction.

An initial support on the downside is near the U$40,000 price area.

The first major support is near the $39,600 level.

Only a good, strong advance in the Bitcoin price above the Ichimoku Cloud to break out of a risk area of negative corrections below $39,650 where the Bitcoin price will have to stay supported above the EMA 50 (H1) in order not to have further downside downside downside below $39,120 and 38,760.

Buyers remain in control of the situation with the Bitcoin price above the $38,500 price area.

It will be of utmost importance that buyers provide continuations of positive developments above the U$40,120 and U$40,360 price areas and above the EMAs 20 and 5 (H1), where it shows difficulties of continuations of positive developments.

If buyers fail for the next few sessions to keep the Bitcoin price supported above the EMAs 5 and 20 (H1), sellers will give the downside continuations below them or below the price areas of $39,500 and $39,320.

Buyers will still have to try to bar sellers above the U$38,500 price area to avoid further downside below this price area.

H4 chart:

Bitcoin price follows above the EMA 50, 100 and 20, above the Ichimoku Cloud and a little bit above the EMA 5, however it follows below the EMA 200 where it failed to stay supported.

It will be necessary for the Bitcoin price to return to the positive advancement attempts above the EMA 200 and continue its consolidations and positive developments above it.

If the Bitcoin price goes below the EMA 5 the negative corrections could continue below $39,500 and $39,220, where a stop above $39,120 would be mandatory to avoid the continuity of the negative corrections below $38,800.

Only with the return of stability above the EMA 5 for the price of Bitcoin not to have the negative corrections below $39,660.

Follow the buyers in the difficulties of keeping the Bitcoin price above the EMA 5 and above the $39,800, which will be of extreme importance to come back with their attempts above the $40,000.

If the buyers fail the sellers will go for the EMA 20 or even the U$38,500 price area.

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$ 40,080 // U$ 40,646 // U$ 41,165 // U$ 41,731.

Supports: U$ 39,498 // U$ 39,869 // U$ 38,130 // U$ 37,438.

https://www.tradingview.com/x/64iHGb9O/

H1 Chart:

Bitcoin price is tracking above the 200, 100 and 50 EMAs and above the Ichimoku Cloud, however it is already below the 20 and 5 EMAs and still staying supported above the lower BB line.

For the Bitcoin price not to fall into negative corrections below $39,000, it will need to return with its consolidations and positive developments above the 5 and 20 EMAs or even above $40,000 and $40,120 in the near term.

Only the continuity of the positive advances above the EMAs 5 and 20 and above the Ichimoku Cloud will prevent the Bitcoin price from having the continuity of the negative corrections that are trying to appear below $39,880.

Buyers continue to consolidate and try to keep the Bitcoin price above the $39,660 price area.

Below $39,600, the sellers could take control of the situation and with that, they will continue the downside below $39,400, where buyers will have to try to stop the sellers right above the EMA 50 to not have more downside created by the sellers below it.

Follow the buyers in the attempts of the positive evolutions returns to above the U$39,880 and above the EMA 20, which will be very important.

Resistances: U$ 40.014 // U$ 40.231 // U$ 40.463 // U$ 40.694.

Supports: U$ 39.667 // U$ 39.422 // U$ 39.129 // U$ 38.762.

https://www.tradingview.com/x/9RpMdB33/

Dominance 46.40%

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Nº 374