Bitcoin Price Evolution Analysis 06.28.2021

by CSM TRADER                                                                                                                

 nº381

BTC price U$ 34.066.  

USD/BRL price R$ 4.93.

Price EUR/BRL R$ 5.89.

Price Gold 1g R$ 281.30. 

Good morning to all readers.

Bitcoin price continues in an uptrend above the U$33,200 price area and the 100 EMA (H1).

Bitcoin price in past sessions even tested the $30,119 price area, staying above the last bottom formed in the $28,778 price area.

Strong consolidations were made between the U$30,700 and U$31,800 price areas, and with that came the positive developments upward to the U$32,000 and U$33,000 price areas.

The Bitcoin price went into consolidations again and moving upwards from the U$34,000 price area, even testing the U$35,285 price area, staying just below the last top formed in the U$35,502 price area.

Now at the time of writing the Bitcoin price is tracking in the $34,108 price area.

The price of Bitcoin follows for now in a minor downward correction below the last test made in the $35,285 price area.

It will be important for the Bitcoin price to stay above the 20 and 200 EMA, so as not to have the negative corrections continue and go below the $33,500 price area.

More importantly, the Bitcoin price needs to stay above the 100 EMA, so as not to have further negative corrections go below the $33,200 and $32,800 price area.

If the Bitcoin price stays above the EMA 50 at U$33,500 in the short term, it could return to attempts at positive developments above U$35,000, and return to attempts at breaking the top of U$35,502, where positive advances above U$36,000 and U$37,000 could emerge for the next few sessions.

Only with good consolidations and positive developments above the EMA 20 and 200, for the Bitcoin price to continue its attempts of the breakout of U$ 35,500 and U$ 36,220.

A daily close above the U$34,500 price area was made.

For today a close above $34,800 would be important.

The ideal would be above $35,360, to give the conditions for the breakout of the $36,000 and $36,500.

Buyers remain in control of the situation and need to keep the Bitcoin price above the 200 EMA, lest they begin to have the downside created by sellers below the U$33,500 and U$33,000 price areas.

If the sellers manage to create the downside below the $33,000 price area, they could still extend this downside below $32,800, where buyers will have to try to bar the sellers above $32,500, because below this price area the downside could be much greater below $32,000.

H4 chart:

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

It will be of utmost importance that the Bitcoin price manages to break out above the Ichimoku Cloud, where it has already tried 3 times.

If the Bitcoin price manages to break out above the Ichimoku Cloud and stay supported above the 100 EMA, the turns of the $35,500 breakout attempts will emerge.

If the Bitcoin price comes to correct negatively to below the 5, 100 and 20 EMAs the negative corrections could come back below the $33,000 and $32,500.

Only with positive advances above $34,500 and above the Ichimoku Cloud will the price of Bitcoin break out of a risk area of continued negative corrections below $33,500.

Follow the buyers in attempts to keep the Bitcoin price above the EMA 5 or even above $34,000.

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

Resistances: U$ 34,718 // U$ 35,377 // U$ 36,006 // U$ 36,486.

Supports: U$ 33,879 // U$ 33,324 // U$ 32,710 // U$ 32,021.

https://www.tradingview.com/x/jc4fnkDC/

H1 chart:

Bitcoin price follows above the 100, 50 and 200 EMAs and above the Ichimoku Cloud, but is already below the 5 and 20 EMA.

The Bitcoin price follows in negative corrections below the $34,500 price area, after having failed to continue positive developments to above $35,500.

It will be important for the Bitcoin price to stop the negative corrections above the EMA 200, or even above $33,600, so as not to have the continuations to below the $33,500 and $33,300 price areas where the EMA 100 is.

Even more important will be the price of Bitcoin not to continue negative corrections below the EMA 100, because then, the negative corrections could go below the price areas of $33,120 and $32,780.

Follow the buyers in attempts to bar sellers above EMA 20, or above U$34,000.

Resistances: U$ 34.539 // U$ 35.231 // U$ 35.838 // U$ 36.402.

Supports: U$ 33,818 // U$ 33,400 // U$ 33,041 // U$ 32,632.

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

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Nº 381