Bitcoin Price Evolution Analysis 10.05.2021

by CSM TRADER                                                                                                                

 Nº 444

BTC price U$ 50.180.  

Price USD/BRL R$ 5.45.

Price EUR/BRL R$ 6.32.

Price Gold 1g R$ 307.59.

Good morning to all readers.

Bitcoin price is still in an uptrend above the U$48,500 price area and well above the 100 EMA (H1).

The Bitcoin price in the past sessions continued its consolidations between the price areas of $47,340 and $47,980 and after a brief test in the price area of $46,885 and above the EMA 100 (H1), came back strong with its positive developments above the price areas of $48,000 and $49,000.

It stayed for a few more sessions in consolidations and has now advanced just above the $50,000 price area.

Now at the time of writing, the Bitcoin price remains in the U$50,190 price area.

The Bitcoin price needs to maintain the continuity of positive moves above the EMA 50 and the Ichimoku Cloud or even above $48,500 in order to give the conditions for the continuity of positive moves above the $50,500 and $51,220 price areas, where tests in the $52,000 price area may arise.

If the Bitcoin price comes to correct negatively below the EMA 20 or even in the price area of $49,220, these negative corrections will go to test in the EMA 50, where they will have to stay supported above it, so that there will be no further negative corrections below it.

A good close of the Journal was made above the $49,190 price area.

For today a good close of the Journal will be above the $49,780 price area.

Ideally, a close above the $50,000 price area would be ideal.

Buyers are in full control of the situation as long as they continue with the Bitcoin price above the 100 EMA or above the $48,000 price area and above the Ichimoku Cloud.

If buyers fail to short the continuations of the positive developments above $50,500, sellers will try to create the downside below the 5 and 20 EMA or in the price areas of $49,800 and $49,220.

Buyers will have to defend the $49,500 price area at all costs, as below this price area, sellers will gain more strength and may go for the $49,120 and $48,780 price areas.

Buyers keep an eye on the price area of $52,500 and $54,120.

Major Resistance areas - U$50,400, U$50,760 and U$50,990.

Major Support areas - U$49,880, U$49,500 and U$48,780.

H4 chart :

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

The Bitcoin price could go into negative corrections up to the $49,220 price area to take a breather for the turns of positive developments for the attempts of the breakout and follow-up of the $50,500 and $50,780 resistance.

Consolidations between the price areas of $49,220 and $50,120 could occur for the next few sessions.

The most important thing is that the Bitcoin price stays supported above the EMA 5 so that it does not have further negative corrections below it.

Follow the buyers in attempts to keep the Bitcoin price above the $49,880 price area.

The chart in H4 will follow the whole week to have a parameter of the Bitcoin Price Evolution. Only a few adjustments will be made.

Resistances: U$ 50,385 // U$ 50,952 // U$ 51,600 // U$ 52,200.

Supports: U$ 49.591 // U$ 49.041 // U$ 48.441 // U$ 47.777.

https://www.tradingview.com/x/OdWNLAt4/

H1 chart :

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

The price of Bitcoin needs to continue its positive developments above the $48,500 price area or even above the 50 EMA.

Negative corrections could arise even as a new top above the previous top of $48,850 has already been renewed and the next top to be tested is in the price area of $50,580 and $52,700.

These corrections will not be able to come back below the price areas of $49,220 and $48,680, as below these price areas the negative corrections could be much larger.

Follow the buyers in their attempts to keep the Bitcoin price above the EMA 5.

Resistances: U$50.058 // U$50.311 // U$50.598 // U$50.886.

Supports: U$49,788 // U$49,422 // U$49,090 // U$48,785.

https://www.tradingview.com/x/Zkv40QXj/

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Nº 444