Bitcoin Price Evolution Analysis 10.22.2021
by CSM TRADER
Nº 452
BTC price U$ 63.367.
USD/BRL price R$ 5.66.
Price EUR/BRL R$ 6.59.
Price Gold 1g R$ 323.30.
Good morning to all readers.
Bitcoin price is still in an uptrend above the U$63,000 price area is right on top of the 100 EMA (H1).
The Bitcoin price in past sessions failed to make its continuities upwards from the U$65,880 and U$66,000 price areas, and went into negative corrections downwards from the U$65,000, U$64,000 and U$63,000 price areas, even testing the U$62,000 price area.
Now at the time of writing the Bitcoin price is tracking in the U$63,340 price area and struggling to stay above the 100 EMA (H1).
The price of Bitcoin needs to return with its positive evolutions upwards from the price areas of U$64,000 and U$64,360 so that it does not enter into continuities of negative corrections downwards from U$63,000 and U$62,680 where a search for the EMA 200 could occur, and thus making a lower bottom than its previous one in the U$62,000 price area, which is the support of the time.
Only with the continuity of positive developments above the EMAs 20 and 50 (H1) for the Bitcoin price to leave a risk area of the continuity of negative corrections below the U$63,000 and U$62,500.
A Daily closing above the $62,260 price area was made.
For today of utmost importance a close of the Journal above the $63,000 price area.
Buyers remain in control of the situation, but have great difficulty returning with positive developments above the $63,500 and $63,880 price area.
If buyers fail to keep the Bitcoin price above $63,000, sellers will come in strongly in control of the situation where they will create the downside below the EMA 100 (H1) and go for a test at the EMA 200 (H1) in the $61,800 price area and still be able to continue the downside into the $61,500 and $61,120 price area.

Major Resistance areas - U$63,500, U$63,880 and U$64,220.
Major Support areas - U$63,000, U$62,500 and U$62,080.

H4 chart :
The Bitcoin price follows above the 200, 100 and 50 EMAs and above the Ichimoku Cloud, however it follows below the 20 and 5 EMAs.
It will be of utmost importance that the Bitcoin price climbs the Ichimoku Cloud on the outside in order to avoid further negative corrections below $62,500.
By climbing the Ichimoku Cloud on the outside, the Bitcoin price will be able to vote with its positive developments above the $64,000 and $64,500 price areas.
Follow the buyers in their attempts to come back with positive moves upwards from the 20 and 5 EMAs.
The chart in H4 will follow all week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.
Resistances: U$ 63.828 // U$ 64.576 // U$ 65.580 // U$ 66.601.
Supports: U$ 63,062 // U$ 62,331 // U$ 61,565 // U$ 60,714.
https://www.tradingview.com/x/n40VcNjW/

H1 chart :
Bitcoin price is tracking above the 200 and 100 EMA, but is below the 50, 20 and 5 EMAs and below the Ichimoku Cloud.
The price of Bitcoin needs to return to positive developments above the EMA 50 in the near term to avoid the possibility of continued negative corrections below the price areas of $63,000 and $62,500 and below the EMA 100.
The price of Bitcoin will still have a major barrier to overcome which will be the EMA 50 and the Ichimoku Cloud Base Line (red line) and the Ichimoku Cloud itself to continue with the positive developments upwards of $64,220 and $64,500.
Ideally, buyers should try to go through the Ichimoku Cloud at the thinner part, i.e. at the turn of the Cloud from Green to Red.
Follow the buyers in their attempts to keep the Bitcoin price above the EMA 100 which will be of extreme importance for the upcoming sessions.
Resistances: U$ 63.671 // U$ 63.853 // U$ 64.134 // U$ 64.394.
Supports: U$ 63.313 // U$ 63.011 // U$ 62.715 // U$ 62.357.
https://www.tradingview.com/x/AiCFHlEK/

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Nº 452