Bitcoin Price Evolution Analysis 08.10.2021

by CSM TRADER                                                                                                                

 Nº 408

BTC price U$ 45.370.  

Price USD/BRL R$ 5.23.

Price EUR/BRL R$ 6.13.

Price Gold 1g R$ 292.83. 

Good morning to all readers.

Bitcoin price continues in an uptrend above the U$44,000 price area and above the 100 EMA (H1).

The Bitcoin price in the past sessions continued its consolidations and positive developments above the $45,220 price area, and even tested the $46,800 price area, but failed to follow through on the positive developments and returned with negative corrections below $46,000.

Now at the time of writing, the Bitcoin price remains in the $45,460 price area.

It will be necessary for the Bitcoin price to stay above the U$45,000 and U$44,680 price areas, lest it enter into continuities of negative corrections to below the U$44,500 and U$44,120 price areas.

Bitcoin price needs to come back to test once again in an attempt to break through the U$47,000 price area, where it is a price area with a lot of selling, but needs to stay above the U$45,000 price area in the short term so as not to have further losses below it.

Only with positive developments and continued consolidations above $46,320 will the Bitcoin price move on to attempts to break through $47,000.

A daily close above the $46,250 price area was made.

For today a daily close above the $45,760 price area would be important.

Ideally, a daily close above the $46,500 price area would be important.

Buyers remain in control of the situation, but need to keep Bitcoin's price above the $45,000 price area for the next few sessions.

If buyers are unable to bar sellers above U$45,000, sellers will come in stronger in control of the situation where they can create the downside below the U$44,500 and U$44,120 price areas.

Major Resistance areas - U$46,500, U$47,220 and U$47,780.

Major Support areas - U$45,000, U$44,500 and U$44,120.

H4 Chart:

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

The Bitcoin price needs to hold above the EMA 5 to avoid further losses below it and go for a touch on the EMA 20 or even the $44,320 price area.

It will be necessary for the Bitcoin price to continue its consolidations and positive developments above the $45,000 price area for the next few sessions.

If the Bitcoin price fails to hold above $45,000, negative corrections could follow downward from the $44,780-$44,500 price areas.

Buyers continue to fight with sellers to try to keep the Bitcoin price above the $45,220 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$ 45,853 // U$ 46,784 // U$ 47,669 // U$ 48,600.

Supports: U$ 45,195 // U$ 44,423 // U$ 43,606 // U$ 42,789.

https://www.tradingview.com/x/JMVjm0ag/

H1 chart:

Bitcoin price follows above the EMAs 50, 100 and 200 and above the Ichimoku Cloud, however it follows slightly below the EMAs 20 and 5.

It will be of utmost importance for the Bitcoin price to regain support above the EMAs 20 and 5 in order to return to continued consolidations and positive developments above $45,780, where attempts at positive advances above $46,500 will occur.

If the Bitcoin price fails to continue positive advances above $45,600, negative corrections could return below the $45,000 price area, where they could extend below $44,780 and $44,500.

Only in the short term will positive developments return above $45,780 and $46,000 for the Bitcoin price to move out of a risk area of further downside to below $45,000.

Follow the buyers in attempts to keep the Bitcoin price above U$ 45,000.

Resistances: U$ 45,641 // U$ 46,012 // U$ 46,229 // U$ 46,564.

Supports: U$45,260 // U$44,998 // U$44,708 // U$44,238.

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

Dominance: 47.76 %.

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Nº 408