Bitcoin Price Evolution Analysis 10.04.2021

by CSM TRADER                                                                                                                

 Nº 443

BTC price U$ 47.590.  

USD/BRL price R$ 5.36.

Price EUR/BRL R$ 6.22.

Price Gold 1g R$ 305.23.

Good morning to all readers.

Bitcoin price is still in an uptrend above the $46,700 price area and the 100 EMA (H1).

The Bitcoin price this weekend 2 and 3.10.2021 was in strong consolidations between the U$ 47,500 and U$ 48,300 price areas; where it even tested the U$ 49,304 and U$ 47,068 price area.

Now at the time of writing the Bitcoin price is tracking in the U$47,520 price area.

The Bitcoin price needs to hold above the EMA 100 which could serve as support or even above U$ 46,500 for the next few sessions, so as not to enter heavier downside corrections to below U$ 46,220 and U$ 45,780.

Only with the returns of the positive evolutions above the EMA 50 and getting back to consolidations above it, for new breakout tests in the price area of U$48,000 and U$48,500, and following up to the price areas of U$49,000 and U$49,500 with tests in the U$50,000. And so, continuing its positive developments above the Ichimoku Cloud.

A Daily closing was made above the $48,185 price area.

For today, a close above the $46,500 price area will be of extreme importance.

Buyers remain in control of the situation; but they are already having difficulty getting Bitcoin's price back above the $47,780 and $48,000 price areas.

If buyers lose the U$47,000 price area, sellers will enter control of the situation where they will go in search of the 100 EMA (H1) or even in search of the U$46,500 price area.

Buyers need to keep the price of Bitcoin above the U$ 46,500 price area in order to not have further downside created by sellers down below U$ 46,340.

Major Resistance areas - U$47,780, U$48,000 and U$48,360.

Major Support areas - U$47,000, U$46,500 and U$46,120.

H4 chart :

Bitcoin price is above the 100, 200, 50 and 20 EMAs and above the Ichimoku Cloud, but is already below the 5 EMA.

The Bitcoin price needs to stay above the EMA 20 or even above $47,100 in order not to have the negative corrections continue below $47,000 and $46,780.

Only with the returns of the positive evolutions above the EMA 5 for the Bitcoin price to leave a risk area of the continuities of the negative corrections below the U$ 47,120.

Buyers continue to try to keep the Bitcoin price above $47,400.

The chart on H4 will follow all week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.

Resistances: U$ 48,155 // U$ 48,951 // U$ 49,563 // U$ 50,032.

Supports: U$ 47,155 // U$ 46,278 // U$ 45,544 // U$ 44,850.

https://www.tradingview.com/x/FxOtFT7p/

H1 chart :

Bitcoin price follows below the EMAs 5, 20 and 50 and follows inside the Red Ichimoku Cloud, but follows above the EMA 100 and 200.

The price of Bitcoin could be heading for a test at the EMA 100 or the $46,500 price area for the next few sessions.

It will be of utmost importance that the Bitcoin price stays supported above the EMA 100 (white line) in order not to give the negative corrections continuities below the U$ 46,120.

Only with the turns of the positive developments above $48,000 for the Bitcoin price to get out of a risk area of the continuities of the negative corrections up to the EMA 100.

Follow the buyers in attempts to bar sellers above the U$47,400 price area.

Resistances: U$ 47.841 // U$ 48.190 // U$ 48.402 // U$ 48.743.

Supports: U$47,416 // U$47,050 // U$46,710 // U$46,793.

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

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Nº 443