Bitcoin Price Evolution Analysis 08.09.2021

by CSM TRADER                                                                                                                

 Nº 407

BTC price U$ 45,500.  

Price USD/BRL R$ 5.23.

Price EUR/BRL R$ 6.15.

Price Gold 1g R$ 296.90. 

Good morning to all readers.

Bitcoin price follows me uptrend above the $44,000 price area and well above the 100 EMA (H1).

The Bitcoin price this weekend 7 and 8 08.2021, tried for 2 times the positive evolutions upwards from the price areas of U$ 45.353 and U$ 45.200.

In the case mentioned above the Bitcoin price failed in these positive advances and making a Double Top pattern came the corrections downwards from the price areas of U$44,000, U$43,000, and even testing the price area of U$42,783.

Then the Bitcoin price returned with its positive developments upwards to U$44,000 and U$45,000, where it continues to date.

Now at the time of writing, the Bitcoin price is still in the price area of $45,560.

The Bitcoin price needs to continue positive developments above $46,000, and with further consolidations above this price area, positive developments could continue above the $46,500 and $47,220 price areas for the next few sessions.

If the Bitcoin price were to fail on positive evolutions upwards from the U$45,880 and U$46,000 price areas, negative corrections could emerge and move back downwards from the U$45,500 and U$44,880 price areas.

A daily close has been made above the $43,770 price area.

For today, a daily close above the $45,500 price area will be important.

Ideally, a close above the $46,220 price area is important.

Buyers remain in control of the situation where they will have to defend the $45,000 price area.

Major Resistance areas - U$46,000, U$46,500 and U$47,220.

Major Support areas - U$45,000, U$44,780 and U$43,880.

H4 chart:

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

Continued positive developments above the $45,220 and $46,120 price areas will be necessary for the Bitcoin price in the coming sessions.

If the Bitcoin price fails to break through the $46,000 level, the negative corrections could come back strongly below $45,500 and $45,000 and even extend below $44,780.

Buyers are still trying to continue the positive moves above $46,000.

The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only some adjustments will be made.

Resistances: U$ 45,879 // U$ 46,574 // U$ 47,356 // U$ 48,282.

Supports: U$ 44.633 // U$ 43.678 // U$ 42.772 // U$ 41.651.

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

H1 chart:

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

The price of Bitcoin is making good positive moves above the $45,000 price area, and is heading towards attempts to break through the $46,000 price area.

If the price is successful in breaking through the $46,000 price area and still continues with consolidations above the $45,780 and $426,220 price areas, the positive developments will continue upward to the $46,500 and $47,220 price areas.

If the price fails in these consolidations and corrects below $45,500, the negative corrections could return below the $45,220 and $44,780 price areas.

Buyers follow in their attempts to follow through with positive moves above $45,780 and $46,000, which will be of extreme importance for the coming sessions.

If buyers fail, sellers will come in heavy into control of the situation where they could create the downside below the $45,220 and $45,000 price areas.

It follows the buyers trying to keep the Bitcoin price above U$45,500.

Resistances: U$ 45,889 // U$ 46,209 // U$ 46,503 // U$ 46,797.

Supports: U$45,450 // U$45,234 // U$45,023 // U$44,740.

https://www.tradingview.com/x/LL9xF7CJ/

Dominance: 48.13 %

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Nº 407