Bitcoin Price Evolution Analysis 07.22.2021
by CSM TRADER
nº395
BTC price U$ 31.900.
USD/BRL R$ 5.18.
Price EUR/BRL R$ 6.11.
Price Gold 1g R$ 304.58.
Good morning to all readers.
Bitcoin price continues in an uptrend above the U$ 30,800 price area and above the EMA 100 (H1).
The Bitcoin price in the past sessions even tested the U$32,885 price area, and failed the positive advancing laps for further breakout test in this price area.
In the case mentioned above, after the test in the U$32,885 price areas, the Bitcoin price went into negative corrections downward from the U$32,000 price area and even testing the U$31,502 price area; and follows in consolidations between the U$31,660 and U$32,100 price areas.
Now at the time of writing, the Bitcoin price is in the price area of $31,920 and below the EMA 5 (H1).
The Bitcoin price needs to return with its positive developments upwards from the U$32,000 and U$32,220 price area, so that it will return with breakout attempts into the U$32,500 price area.
If the Bitcoin price succeeds for the next few sessions, in the short term, the evolutions upwards of U$ 32,500 and U$ 32,880 the attempts of the positive breakthroughs upwards of U$ 33,000 and U$ 33,220 will emerge, where the Bitcoin price will enter another price level for further consolidations and the possible continuations of the positive evolutions upwards of U$ 33,500 and U$ 34,000 will emerge.
On the other hand, if the Bitcoin price fails to make positive advances upwards from the U$32,500 and U$32,880 price areas, or even above U$33,000, negative corrections will return downwards from the U$31,500 and U$31,340 price areas, where a break above U$31,200 will be of utmost importance, so that negative corrections do not continue downwards from the U$31,000 and U$30,780 price areas.
Only the return of positive evolutions and with consolidations above the EMA 5 (H1) in the short term, for the price of Bitcoin to continue its positive evolutions above U$ 32,000 and U$ 32,340.
A daily close was made above the U$32,100 price area.
For today it would be important for the continuation of the positive moves a daily close above $31,500.
A good close above the $32,220 price area would be good.
Ideally, a daily close above the $32,500 price area would be good.
The buyers remain in control of the situation and need to continue the positive developments with the Bitcoin price above the U$31,880 and U$32,000 price areas in the near term and still stay with the Bitcoin price supported above the EMA 5 in the near term.
If the buyers fail in these positive advances above U$32,000, the sellers will come in stronger in control of the situation where they can create the downside below U$31,500 and U$31,360.
Buyers will have to try at all costs to stop sellers above $31,200, as below this price area, sellers will gain more and more strength to give the downside continuities below $31,000 and $31,880.
Buyers need to keep Bitcoin's price above the U$31,500 price area for the next few sessions.
Major Resistance areas - U$31,920, U$32,220 and U$32,500.
Major Support areas - U$31,500, U$30,880 and U$30,120.
H4 chart:
Bitcoin price follows above the EMAs 20, 5 and 50, however it follows below the EMAs 100 and 200 and below the Ichimoku Cloud.
The Bitcoin price after 4 attempts for positive advancements above the 100 EMA, failed and entered negative corrections.
The Bitcoin price will now have to stay supported above the EMA 50 so that it does not continue negative corrections below it.
It will be of utmost importance that the Bitcoin price stays with its consolidations above the EMA 50 or even above $31,500.
Buyers are still struggling to continue positive developments above $31,880.
It will be necessary for buyers to stop sellers above the $31,500 price area, or even above the EMA 50 so that sellers don't continue the downside down to below the $31,420 and $31,300 price levels.
It follows the buyers in the fight with the sellers to try to keep the Bitcoin price above the $31,700 price area.
The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.
Resistances: U$ 32,227 // U$ 32,848 // U$ 33,339 // U$ 33,882.
Supports: U$ 31,826 // U$ 31,361 // U$ 30,895 // U$ 30,287.
https://www.tradingview.com/x/QG0kRxRg/
H1 chart:
Bitcoin price follows above the 100, 50 and 200 EMAs and a little bit above the 20 EMA and above the Ichimoku Cloud, however it follows below the 5 EMA.
It will be of utmost importance for the continued positive developments for the attempted breakthroughs above $32,000, that the Bitcoin price once again becomes supported above the EMA 5 for the next few sessions.
If the Bitcoin price continues to fail in these attempts at positive advances above EMA 5, or even above U$31,920, negative corrections could emerge to below U$31,720 and U$31,660.
If the Bitcoin price achieves the necessary evolutions above $32,000, the rounds of attempted positive advances above $32,330 and $32,500 will emerge.
Follow the buyers in their attempts to proceed with the Bitcoin price above the EMA 5.
Resistances: U$ 31,898 // U$ 32,149 // U$ 32,295 // U$ 32,627.
Supports: U$ 31,702 // U$ 31,481 // U$ 31,255 // U$ 31,019.
https://www.tradingview.com/x/FbWq1Yud/
Dominance: 47.82 %.
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Nº 395
