Bitcoin Price Evolution Analysis 07.21.2021

by CSM TRADER                                                                                                                

 nº394

BTC price U$ 31.382.  

Price USD/BRL R$ 5.22.

Price EUR/BRL R$ 6.14.

Price Gold 1g R$ 304.99. 

Good morning to all readers.

Bitcoin price is still in an uptrend above the U$ 31,000 price area and above the EMA 100 (H1).

The price of Bitcoin in the past sessions has been in strong consolidations between the price areas of $29,240 and $29,950, and with that made a base support construction where it managed to break through the price area of $30,000, and followed in strong positive developments upwards to the price areas of $30,500 and $31,000, and remains supported above the EMA 100 (H1).

Now at the time of writing, the price of follows in the price area of $31,466 and above the EMA 100 (H1).

It will be necessary for the Bitcoin price to build a new base of support between the price areas of $31,120 and $31,750, so that it gets the positive developments upwards from the price areas of $32,000 and $32,500, because if it does not get this construction, when the negative corrections come, it will return everything back down to below $31,000.

If the Bitcoin price continues the positive developments above $31,500 and $31,780, the positive developments will continue the attempt to break through the strong resistance of $32,000.

Above $32,000, the Bitcoin price will need further consolidations to proceed above $32,500.

A 3rd test at U$28,600 still follows.

A daily close has been made above the $29,720 price area.

For today and to continue the positive developments, we would need a daily close above $31,120.

Buyers have regained control of the situation above the $30,500 price area.

Buyers need to continue positive moves above the $31,220 price area in order to achieve the necessary consolidations and advances above the $31,500 and $31,780 or even above LTB for the next few sessions.

If buyers fail in these positive moves above $31,500 and $31,780, sellers could take control of the situation and create the downside again, which could go back below $31,500 and $31,220.

Only with good positive advances above $31,880 will buyers try to break through the $32,000 level and head towards $32,500.

Major Resistance areas - U$31,750, U$32,220 and U$33,000.

Major Support areas - U$31,000, U$30,660 and U$29,880.

H4 chart:

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

The Bitcoin price needs to continue positive developments above the EMA 50 and consolidate above it for attempts to break the $32,000 level to emerge.

If the Bitcoin price fails to break the $32,000 level or even fails to continue positive moves above $31,750, the downside corrections could come back below $31,500 and $31,320.

Buyers continue to attempt positive moves above $31,500.

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

Resistances: U$ 31,699 // U$ 32,448 // U$ 33,157 // U$ 33,743.

Supports: U$ 31,018 // U$ 30,500 // U$ 29,983 // U$ 29,247.

https://www.tradingview.com/x/W9XQFFJ5/

H1 chart:

Bitcoin price follows above the EMAs and above the Ichimoku Cloud, however it follows a little bit below the 200 EMA.

It will be necessary for the Bitcoin price to have positive evolutions and still remain supported above the EMA 200 for new consolidations above it to take place, and with that, the continuities of the positive evolutions above $31,750 may emerge, and still go for a test at the breakout of $32,000.

If the price of Bitcoin fails to move above the 200 EMA right away, negative corrections could come back below $31,320 and $31,220.

Buyers remain quite strong above the EMA 5 or even above the U$31,200 price area.

If buyers lose the EMA 5 to buyers, sellers will create the downside below $31,120.

It follows the buyers in an attempt to evolve the Bitcoin price above the EMA 200 or even above U$ 31,500, which will be of extreme importance in the near term.

Resistances: U$ 31,634 // U$ 31,914 // U$ 32,223 // U$ 32,517.

Supports: U$ 31,297 // U$ 30,952 // U$ 30,665 // U$ 30,328.

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

Dominance: 48.29 %.

"It is human nature to strengthen oneself with the weaknesses of others, which is a shame...

The world would be happier if people strengthened themselves from other people's happiness, that's for sure!"    ------ Daiane SaMo

Keep following my analysis through Tradingview as well:

https://br.tradingview.com/chart/BTCUSDTPERP/IwdQowH6/

Make your free card with Bitcoin cashback, on spending from R$10. No need for partners.

By registering with the link you will earn more BTC on your purchases.

https://www.soualter.com.br/abra-sua-conta?c=CHRISTIAN14

Follow My Analysis on Twitter: https://twitter.com/CSM_Trader

Follow My Review on Flipboard: https://flipboard.com/@CSMTRADER007

Follow my review on publish0x: https://www.publish0x.com?a=nXe0RKLGbx

Nº 394