Bitcoin Price Evolution Analysis 10.02.2021

by CSM TRADER                                                                                                                

 nº292

 BTC price U$ 46.700.  

BTC price at Braziliex R$ 254.899.

USD/BRL price R$ 5.37.

Price EUR/BRL BRL 6.51.

Price Gold 1g R$ 320.57.

Good morning to all readers.

The Bitcoin price is still in an uptrend above the $45,000 price area.

The Bitcoin price a few sessions ago, even tested below the major support price area of $46,000, where it tested $45,589.

Now at the time of writing the Bitcoin price is tracking in the $46,728 price area, where it is coming back from a brief test in the $47,311 price area.

It will be of utmost importance that the Bitcoin price continues its positive progress above the $46,260 and $46,500 price areas.

In the case mentioned above, it will be important that the Bitcoin price stays with its consolidations and positive developments above the major support formed at U$ 46,000, so as not to go back to having disadvantages of possible negative advances below U$ 45,500, and with that, the negative disadvantages could extend below U$ 45,000 and go in search of U$ 44,680.

A daily close has been made above the price area of $46,240.

For a good close it is still above $46,200 or better yet above $46,880.

Buyers remain in full control of the situation with consolidations and positive developments above the $46,000 price area.

Buyers need to keep the Bitcoin price above the $46,280 price area for the next few sessions to avoid entering a risk area which would be to keep the Bitcoin price below the $46,080 price area.

Buyers need to return their attempts at positive developments above the $47,320 price area where they are facing a strong sell area.

Only a good, consolidated advance above $47,320 and $47,560 will allow buyers to make new consolidations above $47,220 and still be able to continue positive advances above $48,000.

If buyers fail to make positive moves above $47,000 and $47,500, sellers could take control of the situation and could create the downside that could go below the $46,000 price area again and extend below $45,500 where they would gain more strength and could continue negative moves below $45,220 and $45,000.

Buyers need to stay above the 5 and 20 EMA (H1) where they are very close, for the next few sessions.

Above $48,000 buyers will have a great possibility of a search in the $50,000 price area.

It follows the buyers in the fight with the sellers to try to keep the Bitcoin price above the EMA 20 (H1) in the $46,400 price area.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price today on Braziliex continues with good positive developments above the R$240,000 price area.

Now at the time in writing, the Bitcoin price on Braziliex is in the $253,666 price area, that is, very close to the new ATH which is in the $255,348 price area.

It will be necessary for the Bitcoin price at Braziliex to continue consolidations above the R$238,400 and R$240,000 price areas for the possibilities of a new ATH to emerge.

If the Bitcoin price on Braziliex fails to positive developments above the R$ 255,000 the possibilities of negative corrections below the R$ 240,000 and R$ 238,600 could arise.

The buyers at Braziliex remain in full control of the situation with the Bitcoin price above the R$246,600 price area.

Buyers on Braziliex need the continued consolidations and keep the Bitcoin price on Braziliex above the R$236,600 price area.

If the buyers at Braziliex fail with the consolidations and positive developments above $244,600, the sellers could get in control of the situation, and thereby create the downside that could extend below the $242,000 and $240,600 price areas.

Follow the buyers at Braziliex in their attempts to evolve the Bitcoin price above the R$254,000 price area.

Resistances: R$ 254,003 // R$ 255,156 // R$ 256,500 // R$ 257,844. 

Holders: R$ 252,118 // R$ 250,582 // R$ 248,969 // R$ 247,163.

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

H4 chart:

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

It will be important that the Bitcoin price of its continuing positive developments above the VWAP or above the $46,360 price area.

Now at the time of writing the Bitcoin price is tracking slightly below the VWAP and below the $46,500 price area.

The Bitcoin price needs to return to its attempts at evolutions upwards of the U$46,600 and U$47,000 price area for the next few sessions.

If the Bitcoin price continues its negative advances below $46,400, the odds of a test at $46,120 could arise where the Bitcoin price needs to stay above the major support formed in the $46,000 price area; as below this price area the downside could arise and still go for $45,500.

Buyers remain in control of the situation above the $46,000 price area.

Important for buyers at this point if to keep the Bitcoin price above the EMA 5, green line.

If buyers cannot defend the $46,220 price area, sellers will force downside below $46,080 where buyers will have to fight to not let sellers continue downside below $46,000; because then the damage to buyers could be much greater.

Follow the buyers in an attempt to keep the Bitcoin price above the VWAP or above the $46,400 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$ 46,609 // U$ 47,020 // U$ 47,433 // U$ 48,073.

Supports: u$ 45,956 // u$ 45,359 // u$ 44,819 // u$ 44,251.

https://www.tradingview.com/x/yeZR7Mx8/

H1 chart:

Bitcoin price follows above the EMAs, 50 and 100; however, below the EMA 20 and 5 and the BB centerline.

It will be very important for the next few sessions that the Bitcoin price returns with its positive developments above the price areas of $46,400 and $46,660.

Now at the time of writing the Bitcoin price is tracking below the U$ 46,500 price area, where it is in the U$ 46,255 price area and has already tested the U$ 46,042 price area.

It will be of utmost importance that the Bitcoin price stays above the major support of $46,000; as below $46,000 the downside could be much greater.

Buyers are still in control of the situation above $46,000; however, they are already in an area that is considered sellers' because they are below the BB center line (red line).

It will be of extreme importance for buyers to get Bitcoin's price back above the BB centerline and above the price area of $46,460 and $46,550.

Follow the buyers in an attempt to bar sellers above the major support in the U$46,000 price area.

Resistances: U$ 46,436 // U$ 46,664 // U$ 46,947 // U$ 47,157.

Supports: u$ 46,262 // u$ 46,021 // u$ 45,763 // u$ 45,499.

https://www.tradingview.com/x/PbfgG9jT/

Technical indicators: H1

RSI: The RSI on the H1 chart timeframe for BTC is at the 42 level and with a bearish bias.

https://www.tradingview.com/x/j2w9mTHh/

MACD: The MACD on BTC's H1 chart time is at the positive 230 level and with a bearish bias.

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

OBV: The OBV on BTC's H1 chart time is at the 987 level and with small bearish bias.

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

BTC dominance 62.97%.

" If a destabilizing loss occurs, put a little time between the loss and your next decision. " ----- Richard Dennis

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nº292