Bitcoin Price Evolution Analysis 03.10.2021

by CSM TRADER                                                                                                                

 nº309

 BTC price U$ 55.280.  

BTC price at Braziliex R$ 312.801.

USD/BRL price R$ 5.80. 

Price EUR/BRL R$ 6.90.

Price Gold 1g R$ 321.53.

Good morning to all readers.

Bitcoin price is still in an uptrend above the price area of $53,500.

The price of Bitcoin a few sessions ago reached its 2nd highest price level, reaching the $55,814 price area.

After the Bitcoin price reached its second highest high in the price area of $55,814 staying just below the historical ATH in the price area of $58,354, came the negative corrections downwards from the price areas of $55,000, $54,000 and even testing the price area of $53,002.

These negative corrections are necessary for the Bitcoin price to get back to its positive developments to try to break through the last formed top and continue the attempts above it.

After the Bitcoin price made its negative correction, the "climb" upwards from the $55,000 price area began.

Now at the time of writing the Bitcoin price follows in the price area of U$ 54,934, following small negative corrections.

It will be necessary for the price of the to continue consolidations and positive developments above the U$54,120 price area.

In the case mentioned above, if the Bitcoin price remains above $54,000 for the next few sessions the possibilities of breakout advances upwards in the price area of $55,500 and $55,860 could occur and still give the continuity of positive developments upwards in the price areas of $56,000 and $56,660 where the possibilities of breakout advances upwards in the price area of $57,320 could arise.

If the Bitcoin price should fail to break through the price areas of $55,500 and $55,800, the possibilities of further negative corrections downwards from the $54,500 and $54,000 price areas could arise where they could break through to below $53,760.

Only a good, consolidated advance above $56,120 for further positive developments.

Any losses below U$ 52,120 could take the Bitcoin price into the U$ 51,500 and U$ 51,000 price areas, where a test of the U$ 50,000 price area could emerge.

Bitcoin price needs to hold above the EMA 20 (H1) for the next few sessions.

A good daily close was made above the $54,820 price area.

For today a good and important daily close would be above the $55,000 price area.

Buyers remain in total control of the situation with the Bitcoin price above the $54,500 price area.

Buyers managed to make the 2nd major top at the U$55,814 price area; but failed to follow through above it.

Sellers got into control of the situation and created the downside to below the $54,000 price area where they even tested the $53,002 price area.

Buyers have regained control of the situation and managed to come back with the positive developments with Bitcoin price up above the U$55,000 price area where they have even tested U$55,446 price area.

Now at the time of writing the buyers are following with the Bitcoin price in the U$54,981 price area.

It will be of utmost importance that buyers manage to keep the Bitcoin price above the U$54,120 price area for the next few sessions, so that they can achieve the consolidations necessary for attempts to break through the strong resistance of U$55,500 and U$55,800, and from there, go for a good, consolidated advance up to U$56,000 and U$56,500.

If buyers fail to break through the $55,500 and $55,800 price area, sellers will once again take control of the situation, where they can again create the downside below $54,120 and $53,760.

In the case mentioned above, buyers will have to bar sellers above the $53,220 price area in order not to have further downside below $53,000 and $52,600.

It will be of utmost importance that buyers keep the Bitcoin price above the EMA 50 (H1) for the next few sessions.

Follow the buyers in an attempt to get Bitcoin's price back above the $55,000 price area.

Bitcoin TODAY at Braziliex: H1

The price of Bitcoin today on Braziliex a few sessions ago made its all-time high in Brazil, reaching the R$ 320,987 price area.

The Bitcoin price at Braziliex is still in an uptrend above the R$300,000 price area.

The Bitcoin price on Braziliex needs to continue consolidations and positive developments above the R$ 306,600 price area.

If the Bitcoin price on Braziliex keeps up with its good consolidations above the R$ 310,000 the possibilities of positive advancements above the R$ 320,000 and R$ 324,220 price areas could arise and thus making more new historical tops.

On the other hand, if the Bitcoin price on Braziliex comes to fail with its positive developments upwards of the R$ 320,000 and R$ 324,000, negative corrections will appear where they could negatively advance downwards from the R$ 308,000 and R$ 304,120 price areas.

Only a good, consolidated positive advance above R$326,000 to put the Bitcoin price on Braziliex at a new price level and with higher supports.

The buyers on Braziliex have done a great job with the Bitcoin price where they have managed to make a new historic top in the R$320,987 price area.

Now at the time of writing, the buyers at Braziliex remain in control of the situation with the Bitcoin price in the $318,318 price area.

It will be very important for the buyers at Braziliex to keep the Bitcoin price above the R$306.00 price area for the next few sessions so that the sellers at Braziliex do not continue negative developments below the R$300,000 and R$298,600.

Buyers on Braziliex are eyeing the R$350,000 price area, which will be a psychological area to reach.

Follow the buyers on Braziliex in attempts for positive evolutions upwards from the new ATH at R$320,987.

Resistances: R$ 318,323 // R$ 321,074 // R$ 329,912 // R$ 326,061. 

Supports: R$ 312,719 // R$ 309,881 // R$ 306,700 // R$ 303,433.

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

H4 chart:

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

Bitcoin price has encountered difficulties in positive advances to above the $55,500 price area.

Now at the time of writing the Bitcoin price follows in negative corrections below the $55,000 price area where it is now in the $54,687 price area.

It will be important that the Bitcoin price stays above the $54,000 and $53,500 price area for the next few sessions.

The Bitcoin price will have to stay in consolidations above the U$54,220 price area so that attempts to break above the strong resistance of U$55,500 can be broken and with that give the sequence of positive developments upwards to the U$55,800 and U$56,000 price area.

If the Bitcoin price goes into exhaustion for attempts to break through the $55,500 price area the negative corrections could continue downward from the $54,600 and $54,120 price areas.

Buyers are having difficulty regaining control of the situation upward from the $55,000 and $55,220 price areas.

If buyers fail to resume above these price areas, sellers will give the downside sequence below the $54,500 and $54,120 price areas, where buyers will have to hold sellers back above the $53,500 price area to avoid further losses below $53,120.

Follow the buyers in an attempt to evolve the Bitcoin price back to and above the $55,000 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$ 55,011 // U$ 55,846 // U$ 56,489 // U$ 57,300.

Supports: u$ 53,843 // u$ 52,962 // u$ 52,175 // u$ 51,222.

https://www.tradingview.com/x/6eL7etSJ/

 H1 chart:

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

It will be of utmost importance that the Bitcoin price stays supported above the EMAS 20 and 50 for the next few sessions.

The Bitcoin price will need a strong rally upwards from the U$55,000 and U$55,220 price area to invalidate continued negative corrections downwards from U$54,660 and U$54,120.

Only this good and consolidated advance above the $55,220 and $55,360 price area, for the continuation of breakout attempts in the $55,500 and $55,800 price area, where from there the possibilities of advances above $56,120 will arise.

Buyers continue to have great difficulty in returning to positive advances above the $55,000 price area.

Sellers are buying time and strength below $55,000 and could still create more downside below $54,600 and $54,120.

Only a good advance by buyers above $55,550 to reverse this situation of more downside in the short term.

Follow the buyers in an attempt to keep the Bitcoin price above the EMA 5.

Resistances: U$ 55.001 // U$ 55.229 // U$ 55.453 // U$ 55.677.

Supports: u$ 54,648 // u$ 54,327 // u$ 54,047 // u$ 53,816.

https://www.tradingview.com/x/TaWCyfJ3/

Technical indicators: H1

RSI: The RSI on the H1 BTC time chart is at the 55 level and stabilized.

https://www.tradingview.com/x/JPuHd64V/

MACD: The MACD on BTC's H1 chart time is at positive level 348 and stabilized.

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

OBV: The OBV on BTC's H1 chart time is at the 1.079 level and with bullish bias.

https://www.tradingview.com/x/CBUJi1aZ/

M5 chart:

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

It will be important for the Bitcoin price to see positive advances back above the $55,000 and $55,120 price area.

Buyers are struggling and advancing above $55,000 where if they fail sellers will continue the downside to below $54,660.

Buyers continue to attempt positive advances above $54.

Resistances: U$ 55.020 // U$ 55.116 // U$ 55.208 // U$ 55.308.

Supports: u$ 54.851 // U$ 54.772 // u$ 54.689 // u$ 54.593.

https://www.tradingview.com/x/nV5osha8/

BTC dominance 61.54 %.

" To change the world, you must first change your head. "

Jimi Hendrix

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nº 309