Bitcoin Price Evolution Analysis 04.09.2021

by CSM TRADER                                                                                                                

 nº330

 BTC price U$ 58.590.  

BTC price at Braziliex R$ 327.999.

USD/BRL price R$ 5.56. 

Price EUR/BRL R$ 6.61.

Price Gold 1g R$ 314.96.

Good morning to all readers.

The price of Bitcoin follows in an uptrend above the price area of U$ 57,500 and U$ 58,000 and follows above the EMAs (H1) and (H4).

The Bitcoin price a few sessions ago managed to break through the resistance in the price areas of $57,000 and $57,500, and further broke through the resistance of $58,000 where it has already tested $58,500 just now.

Now at the time of writing, the Bitcoin price is tracking in the U$58,478 price area.

It will be necessary for the Bitcoin price to continue its positive developments above the price area of U$ 58,500 and U$ 58,840, for the developments above U$ 59,000, where it will be a strong selling area, to be completed in the short term, and further consolidations above U$ 59,220 will have to be made for new positive developments above the strong resistance of U$ 59,500, where the Bitcoin price could again face strong selling in this price area.

If the Bitcoin price were to fail to continue upwards from $59,000 and $59,320, negative corrections could emerge, and with that, the possibilities of a return to the $58,400 and $58,120 price areas could arise.

In the case mentioned above, it will be of utmost importance if the Bitcoin price corrects below $58,220 that it stays above the $58,000 price area, so that negative corrections do not extend below $57,800 and $57,620.

Only a good, consolidated positive advance in the price of Bitcoin above $59,500, and staying above it for a few sessions, will allow attempts to break through the long-awaited $60,000 price area to emerge again.

A good daily close was made above the $58,000 price area.

For today it would be important to close above the $58,500 price area so that positive developments can continue above $58,120.

Buyers have regained control of the situation and are making good moves above the $57,800 and $58,220 price area.

Buyers need to keep the Bitcoin price above the $58,220 price area so that they don't lose the good positive moves made so far below $58,000.

If sellers manage to get the Bitcoin price up to the $57,880 price area, the downside they create could extend down to $57,640, where it will be extremely important for buyers to defend the $57,500 price area, because below this price area, sellers will gain more strength and could continue to create more downside below $57,360.

Buyers need to try to keep the Bitcoin price for this weekend above $58,000; 10 and 11/04/2021.

Follow the buyers in consolidations for attempts to evolve above $58,500 and $58,800 for the upcoming sessions.

Bitcoin TODAY at Braziliex: H1

Bitcoin price today on Braziliex is still in an uptrend above the $320,000 price area.

The Bitcoin price on Braziliex is coming off a recovery after testing the $318,000 price area a few sessions ago.

Now at the time of writing, the Bitcoin price on Braziliex is tracking in the R$ 327,900 price area.

It will be necessary for the Bitcoin price on Braziliex to continue positive developments upwards from the R$ 330,000 and R$ 332,000 price area, in order to get out of an area of risk of negative corrections if it goes back below R$ 324,220.

Only a good, consolidated breakthrough in the price of Bitcoin on Braziliex above R$332,220 for further consolidations above R$330,000 to occur, and with that, developments above R$335,000 could occur.

If the price of Bitcoin on Braziliex fails to provide continuity of positive evolutions above the R$ 330,000 the negative corrections could arise to extend below the R$ 324,500 and R$ 322,600 price areas.

It follows buyers attempting a full resumption in control of the situation with the Bitcoin price on Braziliex above the R$330,000 price area.

If the buyers fail with these developments upwards from the R$330,000 and R$332,500 price areas, the sellers will follow in control of the situation where they will still be able to create the downside to below the R$322,600 again.

Buyers will have the strong work of defending the R$320,000 price area so that sellers can't get over this price area again, because below this price area sellers on Braziliex will gain more strength where they can create the downside down to the R$318,600 and R$316,600.

It follows the buyers fight with the sellers on Braziliex to try the positive developments above R$ 330,000 in the short term.

Resistances: R$ 329,736 // R$ 332,070 // R$ 334,039 // R$ 336,067. 

Supports: R$ 327,609 // R$ 325,117 // R$ 322,974 // R$ 320,526.

https://www.tradingview.com/x/90isqsNu

H4 chart:

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

Bitcoin price needs the continuities of positive developments above the strong resistance of $59,000.

If the Bitcoin price can break through $59,000, consolidations will have to be made above the $59,120 and $59,220 price areas for advances above $59,500 to emerge.

The Bitcoin price needs the advances above $59,000 for the next few sessions, lest it come back with negative corrections below the $58,500 and $58,380 price areas.

Follow the buyers with the Bitcoin price above the $58,500 price area and need the developments upwards from the $59,220 price area.

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$ 58,922 // U$ 59,548 // U$ 59,960 // U$ 60,448.

Supports: U$ 58,384 // U$ 57,696 // U$ 57,008 // U$ 56,320.

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

H1 Chart:

Bitcoin price is tracking above the EMAs and above the Ichimoku Cloud.

It will be necessary for the Bitcoin price to continue its positive moves above the EMA 5 for the positive moves to continue above $59,000 in the near term.

The $59,000 price area may be a difficult price area to break through, as this price area has many sells.

In the case mentioned above, the Bitcoin price will have to hit this $59,000 price area in order to undermine or weaken it so that it can break through, and then evolutions above $59,500 can occur.

If the price of Bitcoin is exhausted by attempts at positive evolutions above $59,000, negative corrections could arise and thus go below the $58,500 and $58,360 price areas.

It will be extremely important for the Bitcoin price to remain above the EMA 5 for the next few sessions.

Follow the buyers in an attempt to bar sellers above the U$58,500 price area, or above EMA 5.

Resistances: U$58.586 // U$58.800 // U$59.077 // U$59.330.

Supports: U$ 58,399 // U$ 58,123 // U$ 57,739 // U$ 57,463.

https://www.tradingview.com/x/iZGI9cfb/

Technical indicators: H4

RSI: The RSI on the H1 time chart of BTC is at the 98 level and stabilized.

https://www.tradingview.com/x/ntRqb2Qh/

MACD: The MACD on BTC's chart time is at positive level 7 and with bullish bias.

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

OBV: The OBV on BTC's H1 chart time is at the 2.13 level and stabilized.

https://www.tradingview.com/x/Rz3dIx5q/

M5 chart:

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

It is extremely important for the Bitcoin price to remain above the $58,500 price area or above the VWAP, in order not to have major corrections below $57,880.

Follow the buyers in the attempt of positive evolutions above $59,000.

https://www.tradingview.com/x/DG9pmheu/

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nº330