Bitcoin Price Evolution Analysis 07.26.2021

by CSM TRADER                                                                                                                

 nº397

BTC price U$ 38.412.  

USD/BRL R$ 5.20.

Price EUR/BRL R$ 6.13.

Price Gold 1g R$ 299.50. 

Good morning to all readers.

Bitcoin price is still in an uptrend above the $36,500 price area and well above the 100 EMA (H1).

The price of Bitcoin this weekend 24 and 25/07/2021, was in strong consolidations and gave its continuities of positive developments upwards from the price areas of U$ 33,000, 35,000, 38,000 and with a strong " Needlepoint " reached testing the price area of U$ 48,168.

Then the Bitcoin price returned to the U$38,000 price area.

Now at the time of writing the Bitcoin price is tracking in the U$38,550 price area.

It will be necessary for the Bitcoin price of its continued positive developments above the U$37,780 price area so that it does not enter into strong negative corrections below this price area and extend below U$37,500 and U$37,000.

The Bitcoin price will now face resistance at U$38,500 and U$38,880, where if it manages to break above them, it will have to hold above U$39,000, and with good new consolidations for the possible positive moves above U$40,000.

If the Bitcoin price fails to make positive advances above $39,000 and $39,500, the negative corrections could come back below the $38,500 and $38,000 price areas, where a halt will have to happen above $37,000, so that the negative corrections do not continue below $36,780.

It will be of utmost importance that the Bitcoin price remains above the 5 and 20 EMA for the coming sessions.

A daily close has been made above the $35,374 price area.

For today a good daily close would be above the $38,220 price area, to even maintain positive developments above $37,500.

Buyers remain in total control of the situation.

Buyers have maintained the positive moves above the $35,000 and $37,000 price areas, where they have strongly tested the $48,168 price area.

Buyers will have to keep the Bitcoin price above the U$37,000 price area, lest sellers get in control of the situation below this price area, and give the downside continuities downward from the U$36,500 and U$36,220 price areas.

Major Resistance areas - $38,880, $39,360 and $40,000.

Major Support areas - $38,000, $37,500 and $37,000.

H4 chart:

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

Bitcoin price needs to remain above the $38,000 price area for the next few sessions, and continued positive developments follow for attempts to break through the $39,220 resistance.

The price of Bitcoin continues in strong consolidations above the $38,000 price area.

A good, strong advance above U$39,000 could come in the near term.

If the Bitcoin price fails to make positive advances above $39,000, negative corrections could begin to emerge below $38,500 and $38,220.

Buyers continue to keep the Bitcoin price above the $38,000 price area and above the EMA 5.

It will be important for buyers to stay above the EMA 5 for the next few sessions so that sellers do not get into control of the situation where they can begin to create the downside below the $38,220 and $38,000.

Follow the buyers in their attempts to continue the positive advances above the $38,780 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$ 38,806 // U$ 39,350 // U$ 39,960 // U$ 40,678.

Supports: U$ 37,716 // U$ 36,818 // U$ 36,100 // U$ 35,292.

https://www.tradingview.com/x/IqpXy20V/

H1 chart:

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

Continued consolidations and positive developments above the U$37,680 and U$38,000 price areas will be necessary for the Bitcoin price.

If the Bitcoin price were to fail for the next few sessions in the positive advances upwards from the U$38,885 and U$39,300 price areas, negative corrections could emerge downwards from the U$38,000 and U$37,880 price areas.

The Bitcoin price needs to hold above U$37,220 to avoid further losses below U$37,000 and U$36,780.

If the Bitcoin price makes good positive moves above $39,000 and stays above this price area for a few sessions, the possibilities of continued positive moves above $40,000 will arise, and even extend to a search in the $42,000 and $42,500 price areas.

Follow the buyers in the attempts of the positive advances above the U$38,780, and need to hold above the EMA 5 for the next sessions.

Resistances: U$ 38,795 // U$ 39,386 // U$ 40,043 // U$ 40,663.

Supports: U$ 38.052 // U$ 37.290 // U$ 36.661 // U$ 36.051.

https://www.tradingview.com/x/Mifktxt4/

Dominance: 48.75

"Only absorb what strengthens you, the rest you discard without thinking." ----

Eden Alves

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Nº 397