Bitcoin Price Evolution Analysis 08.19.2021

by CSM TRADER                                                                                                                

 Nº 414

BTC price U$ 44.424.  

USD/BRL price R$ 5.38.

Price EUR/BRL R$ 6.29.

Price Gold 1g R$ 304.00. 

Good morning to all readers.

Bitcoin price follows me downtrend below the price area of U$ 45,500 and the EMA 100 (H1).

The Bitcoin price in the past sessions failed to hold above the $46,000 price area and continued its negative corrections below the $44,400 price area, where it tried the turns of positive developments above the $45,320 price area, but came to fail again, and entering negative corrections, even testing the $43,937 price area.

Bitcoin's price each time makes a lower top than its previous one and lower bottoms than its previous one.

Now at the time of writing, the Bitcoin price is tracking in the U$44,340 price area.

The Bitcoin price would need to come back with its consolidations and positive developments upwards from the U$45,000 and U$45,120 price area, for the possible invalidation of the negative corrections to give the continuities downwards from U$44,000.

If the price of Bitcoin makes a lower bottom than its previous one in the price area of $43,937, the negative corrections will make a new bottom, which could be below the last bottom formed in the $43,800 price area, and thus open a new bottom at $43,500.

Only the return of consolidations and positive developments above $44,500 and $44,880, for the Bitcoin price to leave a risk area of continued negative corrections below $44,220.

A daily close was made above the $44,714 price area.

For today a daily close above the $44,120 price area would be nice.

Sellers remain in control of the situation below the $45,000 price area and the 100 EMA (H1).

Buyers are finding it very difficult to return to positive developments above the $44,680 and $44,880 price areas.

Buyers would need a good strong positive development above the $45,000 and $45,360 price areas for the next few sessions.

Buyers need to hold onto the $44,000 price area, so as not to have further disadvantages created by sellers below the $44,000 and $43,680 price areas.

Sellers continue to look for the price area of $43,500.

Major Resistance areas - U$44,880, U$45,360 and U$46,120.

Major Support areas - U$44,000, U$43,666 and U$43,080.

H4 chart:

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

Bitcoin price needs to hold above the 100 EMA where it has already made 2 breakout tests of it.

If the Bitcoin price stays above the EMA 100 for the next few sessions, positive developments could come back for attempts above $44,680, but it will still have the strong resistance of the Green Ichimoku Cloud for possible developments above $45,500.

On the other hand, if the Bitcoin price manages to break above the EMA 100, downside corrections could follow below the U$43,880 and U$43,480 price areas, where a medium-term search for the EMA 200 could occur.

Only the continuity of consolidations and the attempts of positive evolutions above the EMA 100, for the Bitcoin price to leave a risk area of the continuity of negative corrections below the U$ 43,880.

Follow the buyers in attempts to keep the Bitcoin price above the $44,080 price area, or even above the EMA 100.

The chart on H4 will follow all week to get a parameter of the Bitcoin price evolution. Only a few adjustments will be made.

Resistances: U$ 44.992 // U$ 45.523 // U$ 46.367 // U$ 47.396.

Supports: U$ 43,914 // U$ 43,126 // U$ 42,337 // U$ 41,678.

https://www.tradingview.com/x/Byq5E4nL/

H1 chart:

Bitcoin price follows below the EMAs to below the Ichimoku Cloud.

The Bitcoin price needs to return with its positive developments upwards of the EMAs 5 and 20 in the near term, so that attempts to invalidate the continuities of the negative corrections downwards of the U$44,000 and U$43,780 price areas, do not occur.

If the Bitcoin price breaks the next bottom in the $43,937 price area, it will look for a new bottom, which may be below $43,500.

Follow the buyers in attempts to keep the Bitcoin price above the U$44,000 price area, and at the same time it would be of utmost importance to attempt the positive developments above U$44,500 and U$44,640.

Resistances: U$ 44,683 // U$ 45,041 // U$ 45,444 // U$ 45,857.

Supports: U$ 44,216 // U$ 43,821 // U$ 43,501 // U$ 43,161.

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

Dominance: 45.20

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Nº 414