Bitcoin Price Evolution Analysis 08.16.2021

by CSM TRADER                                                                                                                

 Nº 412

BTC Price U$ 47.298.  

Price USD/BRL R$ 5.24 

Price EUR/BRL R$ 6.17.

Price Gold 1g R$ 299.81. 

Good morning to all readers.

Bitcoin price follows me uptrend above the price area of U$ 46,500 and the EMA 100 (H1).

The Bitcoin price this weekend 14 and 15.08.2021, even made the highest monthly top, reaching the price area of U$ 48,300, then went into negative corrections downwards from the price areas of U$ 47,000 and U$ 46,000, and even testing the price area of U$ 45,479; returned with its positive developments upwards from U$ 46,000, U$ 47,000 and tested the price area of U$ 48,075.

Now at the time of writing, the Bitcoin price continues in its attempts to come back with its positive evolutions above the U$ 47,500 price area.

In the case mentioned above, it will be of utmost importance that the Bitcoin price from its continued consolidations and positive developments above the $47,000 price area, to the attempts of positive developments back above the $48,000 and $48,120 price areas.

If the price of Bitcoin should fail in these positive moves above the $47,500 and $47,780 price areas, the negative corrections will move back below $47,220 and $47,000 where they could extend below $47,000 and $46,680.

Only with good positive advances above $48,120 and still invalidate a possible Double Top (H1), for the Bitcoin price to leave a risk area of possible negative corrections back below $47,120, where it will have to stay above the $46,500 price area, to not have further negative corrections below $46,220.

The daily and weekly closed above the $47,022 price area.

For today a daily close above the $47,000 price area would be good.

Ideally, a daily close above the $47,500 price area would be good.

Buyers remain in control of the situation and need to continue the positive moves above the $47,000 price area for the next few sessions.

If buyers fail to make the positive moves above $47,500 and $47,780, sellers could come in strong and take control of the situation where they could create the downside below $47,120 and $47,000.

Buyers will have to try to bar sellers above the price areas of $47,000 and $46,500.

Major Resistance areas - U$47,500, U$48,000 and U$48,780.

Major Support areas - U$47,000, U$46,500 and U$45,780.

H4 chart:

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

It will be necessary for the Bitcoin price of its continuation of consolidations and positive developments above the $47,000 price area, better yet above the EMA 5, for the returns of attempted advances upwards from the $48,000 and $48,300 price areas.

If the Bitcoin price comes in below the EMA 5, the downside corrections could go in search of the EMA 20 in the U$ 46,500 price area.

It follows the buyers in attempts to give the positive developments continuities above the price areas of $47,500 and $47,780, where they need to keep the Bitcoin price above $47,000, so the sellers don't get in control of the situation and create the downside that could go below $46,500.

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$ 47,782 // U$ 48,298 // U$ 48,774 // U$ 49,235.

Supports: U$ 47,116 // U$ 46,600 // U$ 46,057 // U$ 45,445.

https://www.tradingview.com/x/56XZdiPl/

H1 chart:

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

The price of Bitcoin needs to continue its positive moves to break above the $47,500 and $47,780 price areas in the near term to break out of a risk area of returning to negative corrections to attempts to break the $47,000 support.

It will be extremely important in the short term, that the Bitcoin price remains above the EMA 5 and 20, to not have the possible returns of negative corrections below them, where a search in the price area of U$ 46,800 could arise, and thus passing through the thinnest part of the Ichimoku Cloud and following below it.

Only with positive moves above U$48,120 and U$48,220 for the Bitcoin price to enter a new price floor where further consolidations could emerge above these price areas.

Buyers need to keep the Bitcoin price above U$47,000, for the next few sessions.

If the buyers fail to protect the U$47,000 price area the sellers could get into control of the situation where they will create the downside below the U$47,000 and U$46,780 price areas.      

It will be of utmost importance that buyers conquer the U$48,000 price area, for the next few sessions and keep the Bitcoin price above U$47,800.

Follow buyers above the U$47,500 price area, now at the time of writing.

Resistances: U$ 47,759 // U$ 48,002 // U$ 48,296 // U$ 48,545.

Brackets: U$ 47,455 // U$ 47,195 // U$ 46,924 // U$ 46,658.

https://www.tradingview.com/x/eOkpwIi9/

Dominance: 45.12 %.

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Nº. 412