Bitcoin Price Evolution Analysis 06.22.2021

by CSM TRADER                                                                                                                

 nº378

BTC price U$ 31.624.  

USD/BRL price R$ 5.01.

Price EUR/BRL R$ 5.96.

Price Gold 1g R$ 288.80. 

Good morning to all readers.

Bitcoin price is still in a downtrend below the U$33,500 price area and below the 100 EMA (H1).

The Bitcoin price in the past sessions attempted the positive moves upwards from the $33,500 price area, but came up short and with that came the negative corrections downwards again from the $33,000 and $32,000 price areas.

Now at the time of writing the Bitcoin price is still in the price area of $31,570 and is still trying to break out of the $31,000 price area, where a test at 31,079 has already been made.

In the case mentioned above, if the Bitcoin price validates this breakout of U$ 31,000, negative corrections could extend below U$ 30,500 and U$ 30,000, where negative advances below U$ 29,500 could still occur.

Only with good advances and consolidations above U$33,500 and U$34,000 and above the EMA 50, for the Bitcoin price to achieve possible trend changes in the medium term.

A daily close above the U$31,600 price area was made.

For today a daily close above the $30,500 price area would be very important, in order to not give the continuities of the strongest negative corrections to below this price area.

Sellers remain in control of the situation and continue to force a breakout at the $31,000 price area.

If buyers fail to hold sellers above the $31,000 price area, sellers will continue their downside downside below the $30,800 and $30,500 price areas.

Sellers continue to keep an eye on the $28,666 price area.

Only a good, consolidated advance by buyers above the 50 EMA to get out of a risk area of further downside corrections below $31,000 and $30,500.

Buyers continue their attempts to stop sellers above the $31,000 level.

H4 chart:

Bitcoin price is tracking below the EMAs and below the Ichimoku Cloud.

It will take a return of the positive developments upwards from the $32,500 and $33,500 price areas for the Bitcoin price to change course from the downtrend.

If the Bitcoin price continues the breakout pressure in the $31,000 price area, the possibility of continued downward corrections below $30,666 and $30,220 will occur, and could even extend below $29,780.

Follow the sellers in the pressure of the $31,000 breakout.

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

Resistances: U$ 32,156 // U$ 32,664 // U$ 33,366 // U$ 34,146.

Supports: U$ 31,031 // U$ 30,233 // U$ 29,542 // U$ 28,879.

https://www.tradingview.com/x/pykxs0nU/

H1 chart:

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

Bitcoin's price follows within a descending triangle.

The Bitcoin price is not making the necessary advances above $32,500, which would be of extreme importance in the near term and for the coming sessions.

The Bitcoin price is experiencing strong selling force for the attempts to break through the U$31,000 level.

If the breakout of U$31,000 is completed, the downside corrections could follow up below the U$30,500 and U$30,220 price areas.

A stop above $30,000 would be mandatory, to avoid further heavy downward corrections below $29,780 and $29,500.

Follow the buyers in attempts to come back with positive evolutions with the Bitcoin price above U$ 31,500 and U$ 31,800, which would be of extreme importance for the next sessions.

Resistances: U$ 31,791 // U$ 32,165 // U$ 32,551 // U$ 32,960.

Supports: U$ 31.258 // U$ 30.815 // U$ 30.350 // U$ 30.021.

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

Dominance 49.43

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Nº 378