Bitcoin Price Evolution Analysis 07.13.2021

by CSM TRADER                                                                                                                

 nº390

BTC price U$ 33.055.  

USD/BRL price R$ 5.17.

Price EUR/BRL R$ 6.12.

Price Gold 1g BRL 302.97. 

Good morning to all readers.

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

Bitcoin price in the past sessions tested the $32,650 price area and came back above the $33,000 price area, where it follows in consolidations so far between the $32,920 and $33,330 price areas.

It will be necessary for the Bitcoin price to break through the U$33,400 and U$33,550 price area in order for the positive developments to continue for the attempts to break through the U$34,000 and U$34,220 resistance.

If the Bitcoin price goes into exhaustion by attempting the positive advances upwards of U$33,400 and U$33,550, the negative corrections could come back with forces downwards of U$33,000 and U$32,780, and still extend to a breakout of U$32,500 and U$32,320.

Only with good consolidations and with positive developments upwards from the price area of U$33,500 and being supported above the EMA 100 (H1), for the Bitcoin price to come out of a risk area of continued negative corrections downwards from U$33,000 and U$32,800 for the coming sessions.

A daily close was made above the U$33,070 price area.

For today a daily close above the $33,500 price area or better yet above the $34,000 price area would be very important.

A daily close below the $33,500 price area could continue the downward corrections below $32,780.

Buyers are still in the fight with sellers to keep Bitcoin's price above the U$33,000 price area.

If the buyers fail to protect the U$33,000, the sellers will continue the downside downwards below the U$32,800 and go for the breakout at the U$32,500 price area, where they will extend the downside down to the U$32,220 and U$32,080.

Only with positive advances above the $33,500 price area will buyers be able to get back in control of the situation and still stay above the 100 EMA (H1).

Major areas of resistance - $33,500, $33,780 and $34,000.

Major support areas - U$32,600, U$32,080 and U$31,860.

H4 chart:

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

The Bitcoin price needs to continue its positive developments upwards of the 5 and 20 EMA for the next few sessions so that it does not return below the $32,880 price area.

It will be necessary for the Bitcoin price to achieve the necessary consolidations for the next few sessions for the positive advances to occur above the EMAs 5 and 20, and advance above the U$33,500 and U$33,600 price areas.

If the Bitcoin price were to fail to make these positive advances, the negative corrections would return below the U$33,000 and U$32,880 price areas.

Buyers continue to hold the Bitcoin price above the U$33,000 price area, which will be of extreme importance for the coming sessions.

If buyers can make the necessary moves above $33,500, they can follow through with attempts to break through the $34,000 price area.

If buyers continue to fail to make positive moves above $33,400 and $33,500, sellers will regain control of the situation where they will continue the downside moves below the $33,080 and $32,880 price areas.

Follow the buyers in the attempts of the positive developments upwards from the price areas of $33,200.

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$ 32,227 // U$ 33,462 // U$ 33,671 // U$ 33,989.

Supports: u$ 32.930 // u$ 32.668 // u$ 32.447 // u$ 32.172.

https://www.tradingview.com/x/8SPSkmCJ/

H1 chart:

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

Bitcoin price needs to stay above the U$33,000 and U$33,120 price area for the next few sessions, and give the consolidations and base formation continuities above U$32,880.

If the Bitcoin price does not succeed in positive advances upwards from the U$33,200 and U$33,380 price areas in the short term, negative corrections will appear again and may go below U$32,680 and U$32,500.

Only the turns of the positive developments above U$33,320 for the Bitcoin price to get out of a risk area of more downside for the next sessions to below U$32,800.

It follows the buyers in the fight with the sellers to try to keep the Bitcoin price above the U$33,000 price area.

Resistances: U$ 33,173 // U$ 33,338 // U$ 33,516 // U$ 33,660.

Supports: U$33,897 // U$32,715 // U$32,529 // U$32,296.

https://www.tradingview.com/x/Ze5DWaMZ/

Dominance: 47.00 %

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Nº 390