Bitcoin Price Evolution Analysis 10.25.2021

by CSM TRADER                                                                                                                 

 Nº 453

BTC price U$ 62.830.  

USD/BRL price R$ 5.64.

Price EUR/BRL R$ 6.56.

Price Gold 1g R$ 327.84.

Good morning to all readers.

Ethereum NFTs have gained more influence in the crypto space. These NFTs have recorded sales of up to 69.3% for a single artwork. Investors are adopting NFTs as a form of long-term investment in addition to their cryptocurrency holdings. Although other blockchains are emerging where NFTs can be created, most of them still happen on Ethereum.

This is why investors have migrated to non-fungible tokens minted on the blockchain. Their growing popularity has led to some striking similarities with the retention pattern seen in cryptocurrencies. For example, just as whales are a thing in cryptocurrencies, there are also NFT whales, and new data coming out of the market shows that whales are dominating NFTs in the same way they dominate cryptocurrencies.

The Bitcoin price is following me uptrend above the $61,780 price area and above the 100 EMA (H1).

The Bitcoin price this weekend 23 and 24.10.2021 was in consolidations and between the U$61,800 and U$60,000 price areas and made a bottom in the U$59,504 price area.

Now at the time of writing the Bitcoin price is tracking in the U$62,912 price area.

The Bitcoin price needs to continue above the $62,220 and $62,500 price areas and above the EMA 5 in the near term for the possibilities of continued positive advances above the $63,120 and $63,500 price areas, to renew the top in the $63,800 price area; and try to make a top higher than $63,800 or even above $64,380.

If the Bitcoin price were to fail in these positive advances and with this renewed top, the downside corrections could come back below $62,500 and $62,000, where a stop above $61,800 would have to happen in order to not have the downside corrections continue below $61,500.

In the Ichimoku Cloud there is a hole between the price areas of $61,700 and $60,700, which is why the price of Bitcoin needs to evolve above $63,120 and $63,360 in order not to test this hole in the Ichimoku Cloud, where the possibilities of continued negative corrections below $61,220 could occur.

Only with the continuation of positive developments above the EMA 5 (H1) and above $62,220 will the price of Bitcoin not return with its negative corrections below $62,000.

A Daily closing above the $60,900 price area was made.

For today important a Journal close above the U$62,360 price area.

Buyers have regained control of the situation and need to provide the continuities with Bitcoin's price and positive developments above U$63,000 and U$63,500 for the next few sessions.

If the buyers fail the sellers could again get into control of the situation where they could again create the downside below the U$62,500 and U$62,000 price areas, it could extend these downside below U$61,666.

Above $63,660 buyers could continue their tests above $64,000 and $64,360.

Major areas of Resistance - U$63,280, U$63,500 and U$64,120.

Major Support areas -          U$62,500, U$62,120 and U$61,800.

H4 chart :

Bitcoin's price is tracking above the EMAs, however it is still inside the Green Ichimoku Cloud.

It will be of utmost importance that the Bitcoin price breaks out above the Ichimoku Cloud so that continued positive developments can emerge above the $63,800 and $64,120 price areas.

If the Bitcoin price fails to break out above the Ichimoku Cloud, a turn back down from the Ichimoku Cloud in the U$62,000 and U$61,780 price area could occur.

Follow the buyers in attempts to evolve the Bitcoin price above U$63,260.

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

Resistances: U$ 63,810 // U$ 64,614 // U$ 65,396 // U$ 66,091.

Supports:     U$ 62,659 // U$ 61,703 // U$ 60,965 // U$ 59,944.

https://www.tradingview.com/x/MQVEr2N4/

H1 chart :

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

The Bitcoin price needs to continue the positive developments above $63,500 and $64,000 so that it does not risk coming back with the negative corrections below $62,120 and $61,780 or even into the hole formed by the Ichimoku Cloud.

If the Bitcoin price manages to positively advance above U$63,500 and U$64,000, further consolidations will emerge and even positive advances above U$65,000 could appear.

It follows the buyers with the Bitcoin price in the U$63,050 price area, and they need to keep the Bitcoin price above U$62,780 and give the continuities of the positive developments above U$63,260 in the short term to not have major problems with the sellers below U$62,460.

Resistances: U$ 63.273 // U$ 63.685 // U$ 64.058 // U$ 64.470.

Supports:      U$62,814 // U$62,469 // U$62,019 // U$61,675.

https://www.tradingview.com/x/5XOW5ygA/

Dominance 46.90 %

" As a mind experiment, imagine there was a base metal as scarce as gold... and a special magical property: it can be transported through a communication channel. " ---- Satoshi Nakamoto

Continue to follow My Analysis also on Tradingview:

https://br.tradingview.com/chart/BTCUSDTPERP/AQ10L4Aa/

Make your free card with Bitcoin cashback, on spending from R$10. No need for partners.

By registering with the link you will earn more BTC on your purchases.

https://www.soualter.com.br/abra-sua-conta?c=CHRISTIAN14

Follow My Analysis on Twitter: https://twitter.com/CSM_Trader

Follow My Review on Flipboard: https://flipboard.com/@CSMTRADER007

Follow My Review on publish0x: https://www.publish0x.com?a=nXe0RKLGbx

Mine by playing: https://rollercoin.com/?r=ku32dbof

Nº 453