Bitcoin Price Evolution Analysis 09.08.2021

by CSM TRADER                                                                                                                 

 Nº 426

BTC price U$ 45.955.  

USD/BRL price R$ 5.17.

Price EUR/BRL R$ 6.10.

Price Gold 1g R$ 303.08.

Good morning to all readers.

The Bitcoin price is still in a downtrend below the price area of $49,000 and the EMA 100 (H1).

The price of Bitcoin in the past sessions even tested the price area of $52,950, and then went into strong negative corrections below the price areas of $52,000, $51,000, $48,000 and even tested the price area of $42,088. A negative correction 12h and of more than $10,000.00.

Now at the time of writing the Bitcoin price is tracking in the U$ 46,439 price area and above the EMA 5 (H1).

The Bitcoin price needs to continue the consolidations and positive advances above the $44,500 price area, as below this price area, the negative corrections could come back strong again for the tests at the new bottom formed at the $42,100 price area.

Only with positive advances above the price areas of U$ 46,666 and U$ 47,220 and even with new consolidations above these price areas, for the price of Bitcoin to return to the continuity of positive developments for testing the breakout of U$ 48,000 and continue again in a bullish phase, above U$ 49,000 and U$ 50,000.

A closing of the Journal was made above the price area of $46,820.

A close above the $47,220 price area would be important for today.

Buyers are trying to get back in control of the situation, where they are attempting positive moves above $47,000.

If buyers manage for the next few sessions the necessary evolutions above U$ 47,000, they will have to maintain the consolidations above this price area, and proceed with Bitcoin's price above U$ 47,360 and U$ 47,500.

If buyers have already failed in their attempts at positive advances above $47,000, sellers will regain control of the situation where they can again create the downside below the $46,120 and $45,780 price areas, where buyers will have to try to bar sellers above $45,000 in order not to take further losses below $44,666 and $44,220.

It will be extremely important for buyers to get Bitcoin's price up to the $48,500 price area by the close of the Weekly.

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

Major Support areas - U$ 46,000, U$ 45,500 and U$ 45,120.

H4 chart:

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

Bitcoin price needs to advance above the EMA 200 for further consolidations to take place and with that the EMA 5 will arrive to provide new support.

The Bitcoin price has already made a few attempts to stay above the EMA 200, but without success so far. It will be of utmost importance that this positive advance above the EMA 200 for the next few sessions.

If the Bitcoin price fails in these advances above the EMA 200 or even fails to stay above it, the negative corrections could come back below the price areas of $46,220 and $46,000.

Follow the buyers as they attempt positive moves above the EMA 200 or even above the price area of $46,800 and $47,000.

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$ 46.826 // U$ 47.604 // U$ 48.508 // U$ 49.534.

Supports: U$ 46.023 // U$ 45.145 // U$ 44.367 // U$ 42.936.

https://www.tradingview.com/x/06SQlOg6/

H1 chart:

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

The Bitcoin price needs to hold above the EMA 5 and still give the positive advances continuities above the EMA 20 and hold above them for the next sessions.

If the Bitcoin price fails in these advances above EMA 20 and stays above EMA 5, the negative corrections will move back below the $46,220 and $46,000 price areas.

Follow the buyers in attempts to give the positive developments continuities above U$47,000.

Resistances: U$ 46,834 // U$ 47,537 // U$ 48,304 // U$ 49,055.

Supports: U$46,258 // U$45,683 // U$45,012 // U$44,421.

https://www.tradingview.com/x/LqgRGch1/

Dominance 43.81 %

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Nº 426