Bitcoin Price Evolution Analysis 06.29.2021

by CSM TRADER                                                                                                                

 nº382

BTC price U$ 35.551.  

USD/BRL price R$ 4.92.

Price EUR/BRL R$ 5.86.

Price Gold 1g R$ 282.85. 

Good morning to all readers.

Bitcoin price continues in an uptrend above the U$33,700 price area and the 100 EMA (H1).

The Bitcoin price in past sessions has been in strong consolidations between the U$34,150 and U$34,800 price areas.

With these consolidations formed, the Bitcoin price a few sessions past, managed to break through the U$35,000 price area and the U$35,500 resistance.

Now at the time of writing the Bitcoin price is tracking in the U$35,508 price area.

Bitcoin price needs to continue consolidations above the U$34,420 price area, where a good support area has been made.

If the Bitcoin price gives the continuities of consolidations and positive developments above the U$34,500 price area, the positive developments will appear above U$35,500, and give the continuity for the breakout of U$36,000, and move on to attempts to break through the U$36,500 resistance.

Above U$36,500 the Bitcoin price could go in search of U$38,000, where any further gains could go in search of U$40,000.

If the Bitcoin price fails to make positive advances above $36,000 and $36,500 negative corrections could emerge, and go below $35,500 and $35,000, where a stop above $34,400 will be mandatory to avoid continuing negative corrections below $34,000 and $33,800, and thus breaking the support formed in the $34,500 price area.

Only with further consolidations above U$34,800 for the Bitcoin price to advance above U$36,000 and U$36,320.

It will also be necessary for the Bitcoin price to remain above the EMA 5 and 20 to provide continuity of positive developments above U$36,000.

A daily close above the $34,400 price area was made.

For today a daily close above the $35,440 price area would be important.

Buyers remain in full control of the situation above the $34,000 price area.

Buyers are making good positive moves above the $34,500 price area.

It will be necessary for buyers to keep the Bitcoin price above the $34,500 price area, where they make good support; for the next few sessions, so they don't start having the downside created by sellers below $34,220 and $33,880.

Follow the buyers in their attempts to continue the positive developments above the $35,760 price area.

H4 chart:

Bitcoin price follows above the EMAs 20, 50, 5 and 100 and above the Ichimoku Cloud, however it follows below the EMA 200.

It will be important for the Bitcoin price to continue its positive developments and consolidations above the 100 EMA, for possible continuations above $36,000 and $36,340.

If the Bitcoin price comes to correct negatively below the EMA 100, it will have to stop above the EMA 20 so that negative corrections are not stronger below it or even below U$34,000.

Buyers remain in control of the situation and need to continue consolidations and positive moves above the EMA 100 or above $34,500 for positive moves above $36,000.

If buyers go into exhaustion from attempts to move above $36,000, sellers will take control of the situation where they can create the downside below $35,220 and $34,880.

Buyers will have to bar sellers above $34,500 in order not to have further downside below this price area.

Once buyers get the positive advances above $36,000, they will have to keep Bitcoin's price above $35,500 so as not to lose all the work done so far above $34,000.

Follow the buyers in the attempts of the positive developments above $35,780.

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$ 35,833 // U$ 36,516 // U$ 37,198 // U$ 37,897.

Supports: U$ 35.217 // U$ 34.618 // U$ 34.018 // U$ 33.435.

https://www.tradingview.com/x/WDsn0Ark/

H1 chart:

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

The Bitcoin price continues to make good positive moves above the $35,000 price area.

It seems that the Bitcoin price is beginning a base building above the $35,000 price area, which will be of extreme importance for the next few sessions, for the next attempts of the positive developments above $36,000 and $36,500.

It will be necessary for the Bitcoin price to continue its consolidations and positive evolutions above the EMAs 5 and 20, in order not to have the possible negative corrections below the U$ 34,500.

If the Bitcoin price fails for the next sessions with the positive advances above the U$36,000 and U$36,320, the negative corrections could appear below the EMA 5; where the EMA 20 will have to hold the negative corrections, because below it the search for the EMA 50 could occur.

It follows the buyers with the difficulties to give the continuities of the negative corrections above U$ 35,780.

Resistances: U$ 35.655 // U$ 35.943 // U$ 36.246 // U$ 36.527.

Supports: U$35,309 // U$35,029 // U$34,748 // U$34,423.

https://www.tradingview.com/x/C4WmUGSS/

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Nº 382