Bitcoin Price Evolution Analysis 02.11.2021

by CSM TRADER                                                                                                                

 nº293

 BTC price U$ 45.490.  

BTC price at Braziliex R$ 245.998.

USD/BRL price R$ 5.38.

Price EUR/BRL BRL 6.53.

Price Gold 1g R$ 319.63.

Good morning to all readers.

Bitcoin price is in an uptrend above the $44,700 price area.

Bitcoin price a few sessions ago failed to break through the U$47,500 price area and came to correct negatively below the U$45,000 price area, where it even tested the U$44,725 price area.

Now at the time of writing, the Bitcoin price has managed to break out of the U$45,000 price area and is in the U$45,490 price area, where it has already tested the U$45,754 price area.

Bitcoin's price needs to remain above the U$44,900 price area for the next few sessions to continue further consolidations, and with that, positive developments upwards from the U$45,700 and U$45,880 price areas can occur and further attempts to break through the strong resistance of U$46,000 can be broken with a continuation trend upwards from U$46,500 and U$47,000.

If the Bitcoin price fails to continue its moves above the $46,000 and $46,500 price area downside could occur and with that the possibilities of a move back down from the $45,500 and $45,000 price areas could arise.

A daily close has been made by sellers above the $44,530 price area.

For today buyers should try to maintain a daily close above the $45,220 price area in order not to lose all the moves made so far.

Buyers remain in control of the situation with the Bitcoin price at above the $46,000 price area, which has already been breached.

Buyers need to continue positive moves above the $46,500 and $47,000 price areas for the next few sessions.

If buyers fail to move above $47,000 the downside created by sellers could move below the $46,360 and $45,500 price areas where buyers will have to stop sellers above $45,000 as below this price area the downside could be much greater and could still move below $44,660.

Follow the buyers evolving the Bitcoin price to above the $46,240 price area.

Bitcoin TODAY in Braziliex: H1

The price of Bitcoin today on Braziliex, continues with its good consolidations and evolutions above the price area of $ 238,000.

Now at the time of writing, the Bitcoin price at Braziliex follows in the $249,000 price area.

It will be necessary for the Bitcoin price at Braziliex to continue consolidations and positive evolutions above the R$240,000 and R$238,400 price areas.

If the Bitcoin price on Braziliex were to fail to provide continuity of positive developments upwards from the R$254,000 price area negative corrections could begin to emerge downwards from the R$246,440 and R$244,000 price areas.

Buyers on Braziliex remain in full control of the situation with the Bitcoin price above the R$240,000 price area.

Buyers at Braziliex need to defend the R$247,220 and R$244,600 price areas anyway, so as not to have major downside below this price area.

Buyers on Braziliex need good advances upwards from the R$253,600 price area, to get back to the breakout attempts at the HTA of R$255,348; where a few sessions ago they managed to get as high as R$255,000.

Follows the buyers in Braziliex in attempts to evolve above the price areas of R$250,000 and R$252,360.

Resistances: R$ 249,381 // R$ 250,598 // R$ 252,275 // R$ 253,831. 

Supports: R$ 248,092 // R$ 246,603 // R$ 245,346 // R$ 243,921.

https://www.tradingview.com/x/j4xNMnO9

H4 chart:

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

It will be important for the Bitcoin price for the coming sessions, of the continuation of consolidations and positive developments above the EMA 5.

Bitcoin price needs to break above the $47,000 price area, because if it fails in this attempt corrections could emerge and evolve negatively below the $46,500 and $45,800 price areas.

Buyers remain in control of the situation and at this time of writing are in the attempt of positive evolutions with the Bitcoin price upwards from the U$46,500 price area where a search upwards from the U$47,000 price area could occur.

If the buyers fail to evolve the Bitcoin price above the U$47,000 price area, the sellers may take advantage of the situation and begin to create the downside downside to the U$46,500 and U$46,000 price areas.

Follow the buyers in an attempt to evolve the Bitcoin price above the U$ 46,500 resistance.

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$ 46,493 // U$ 47,170 // U$ 47,866 // U$ 48,682.

Supports: u$ 45,936 // u$ 44,941 // u$ 44,106 // u$ 43,131.

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

 H1 chart:

Bitcoin's price follows above the EMAs and just short of rising above the Ichimoku Cloud.

In the case mentioned above, if the Bitcoin price rises above the Ichimoku Cloud positive developments will continue above the $46,500 price area and with that the possibilities of a continuation of positive developments above the $46,660 and $47,000 price areas will arise.

If the Bitcoin price fails to evolve above $47,000 negative corrections could appear and move back below the $46,660 and $46,220 price areas.

Buyers remain in control of the situation and need to move the Bitcoin price above the $46,500 price area to avoid exhaustion and let sellers take control of the situation and with that the downside could move below the $46,440 price area.

Follow the buyers in the attempt of positive evolutions above the price area of U$ 46,500.

Resistances: U$ 46.457 // U$ 46.756 // U$ 46.988 // U$ 47.307.

Supports: u$ 46,071 // u$ 45,704 // u$ 45,337 // u$ 44,941.

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

Technical indicators: H1

RSI: The RSI on the H1 time chart of BTC is at the 99 level and stabilized.

https://www.tradingview.com/x/N49llPVw/

MACD: The MACD on BTC's chart time is at negative level -10 and with bullish bias.

https://www.tradingview.com/x/J2Yxne11/

OBV: The OBV on BTC's H1 chart time is at the 984 level and has a bearish bias.

https://www.tradingview.com/x/4qLTHWJC/

M5 chart:

Bitcoin price follows above the VWAP and above the BB and is still above the Ichimoku Cloud.

The price of Bitcoin is consolidating strongly to attempt a breakout above $46,500.

Buyers need the continuity of positive advances above $46,500 and $46,780 so that they don't get exhausted and sellers create the downside below $46,320 and $46,120.

It follows the buyers in the fight with the sellers to get evolutions above the U$ 46,500.

Resistances: U$ 46.167 // U$ 46.291 // U$ 46.434 // U$ 46.567.

Supports: U$ 45.857 // U$ 45.656 // U$ 45.4555 // U$ 45.234.

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

BTC dominance 61.41 %.

"Success in this market is 83% psychological and 17% technical." ----- Danile Itzi

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nº293