Bitcoin Price Evolution Analysis 06.30.2021

by CSM TRADER                                                                                                                

 nº383

BTC price U$ 34.830.  

USD/BRL price R$ 4.95.

Price EUR/BRL R$ 5.89.

Price Gold 1g R$ 280.13. 

Good morning to all readers.

Bitcoin price continues in an uptrend above the U$33,500 price area and the 100 EMA (H1).

The Bitcoin price in the past sessions managed the positive advances upwards from the price areas of $35,500 and $36,000, even testing the $36,626 price area, where it was unsuccessful in continuing upwards to $36,780 and $37,000.

The price of Bitcoin entered negative corrections after several attempts at positive advances above U$ 36,500, where it entered negative corrections downwards from the U$ 36,000, U$ 35,000 price areas, even testing the U$ 34,400 price area.

Now at the time of writing the Bitcoin price remains supported above the EMA 100 (H1) and the U$34,760 price area.

It will be important for the Bitcoin price to remain supported above the EMA 100 (H1) for the next few sessions, to give the consolidations continuities, and with that, the positive advances above the U$35,000 will appear, and extend back to the U$36,500 and U$36,700 breakout attempts, and the possible advances above the U$37,000 could emerge.

If the Bitcoin price starts to correct below the 100 EMA (H1) or even below the U$34,400, the negative corrections could extend below the U$34,120 and U$33,780 price areas, where a stop above the U$33,500 will be of utmost importance, so as not to have the negative corrections continue below the U$33,000 and U$32,880.

Only with good consolidations and positive advances above the EMA 5 and 50 (H1) for the next few sessions, will the price of Bitcoin be able to get out of a risk area of continuing negative corrections below $34,500.

A daily close was made above the $35,900 price area.

For today a good daily close would be above $35,220.

A daily close below $34,500 would complicate positive advances in Bitcoin's price for attempts to get back above $36,000.

Sellers remain in control of the situation below the BB centerline and below the U$35,000 price area.

Buyers have failed to continue the positive developments above the $35,600 price area and with that the sellers have entered control of the situation and created the downside to below $36,000, $35,000 and $34,500.

It will be of utmost importance that buyers regain control of the situation above the EMA 100 (H1) or even above the U$34,400 price area, so as not to have further downside created by sellers below this price area.

If the buyers fail for the next few sessions to come back with positive advances above $34,800 and $35,120, the sellers will give the downside continuities below $34,4000 and $34,000, and may even extend these downsides with the Bitcoin price below $33,880.

Only with a good advance of buyers above $35,220 and the 20 EMA (H1), to get out of a risk area of more downside to below $34,500.

H4 chart:

Bitcoin price follows above the 50 and 20 EMAs and above the Ichimoku Cloud, but below the 5 and 200 EMAs and a little bit below the 100 EMA.

It will be necessary for the Bitcoin price to return with its positive moves above the 100 EMA and move above the 5 EMA, where it should become supported again for the turns of the positive moves and for the turns of the attempts of the breakout of the $36,500 for the next few sessions.

If the Bitcoin price fails to make advances above $35,500 the negative corrections will reappear below $34,780 and $34,500.

Only with good positive advancement above $35,500 and with further consolidations above this price area, for possible attempts of the $36,500 breakout.

Buyers continue to attempt positive advances above $35,000, which will be of extreme importance now in the short term.

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$ 35.248 // U$ 35.849 // U$ 36.332 // U$ 36.991.

Supports: U$34,604 // U$34,033 // U$33,550 // U$33,081.

https://www.tradingview.com/x/53YPMf1z/

H1 chart:

Bitcoin price is tracking above the 200, 100 and 5 EMAs and coming a little bit outside the Ichimoku Cloud, however it is tracking below the 50 and 20 EMAs.

The Bitcoin price needs to continue the positive moves above the 50 and 20 EMAs to have the positive moves back above $35,220, where the positive moves above $35,500 and $36,120 could emerge again.

If the Bitcoin price fails on these positive advances upwards of the EMAs 50 and 20, the negative corrections could return to attempts of the breakout of the EMA 100, where the possibilities of continued negative corrections downwards of the U$34,500 will emerge.

Above $36,220 the Bitcoin price will need good consolidations for attempts to break through the $36,500 price area. 

Follow the buyers with great difficulties of the continuities of the positive advances above the price area of U$ 35,000, or even above the EMA 50.

Resistances: U$ 35.180 // U$ 35.504 // U$ 35.802 // U$ 36.127.

Supports: U$ 34,671 // U$ 34,382 // U$ 34,040 // U$ 33,672.

https://www.tradingview.com/x/S2GWJd95/

Dominance 47.72

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Nº 383