Bitcoin Price Evolution Analysis 10.27.2021
by CSM TRADER
Nº 455
BTC price U$ 58.810.
USD/BRL price R$ 5.56.
Price EUR/BRL R$ 6.54.
Price Gold 1g R$ 321.20.
Good morning to all readers.
The Bitcoin price is still in a downtrend at below the U$60,000 price area and below the EMA 100 (H1).
The Bitcoin price in the past sessions after failing to continue positive developments upwards from the price areas of $62,880 and $63,000, gave continuities of negative corrections downwards from the price areas of $62,000, $61,000, $60,000, $59,000 and $58,000 even testing the price area of $57,865.
Now at the time of writing the Bitcoin price is tracking in the $58,940 price area.
The Bitcoin price needs to return with its consolidations and positive developments upwards from the $59,220 and $59,500 price areas for the next few sessions to follow up above $60,000 and stabilize back above $60,320.
If the Bitcoin price fails on these turns of the positive evolutions upwards from $59,320 and $60,000, the negative corrections will give the continuations downwards from $59,120 and $58,500, where back tests at the bottom formed in the $57,865 price area could occur again, and still extend downwards from $56,500 and $55,680.
Only with the return of positive developments and with the stabilities and consolidations above $60,220 and $60,500, will the Bitcoin price leave a risk area of continued negative corrections below $58,500 and $57,220.
A Journal close was made above the $60,350 price area.
For today, a close above the $58,880 price area would be important.
Sellers remain in control of the situation below the $60,000 price area, and may give the downside continuities with the price of Bitcoin for a retest at the $57,865 price area and may still extend below $57,000.
Buyers need to try to bar sellers above the $58,360 price area so that sellers do not gain more strength and come back with attempts to continue the downside below $58,080 and $57,800.
It will be of utmost importance for the upcoming sessions that buyers achieve the necessary developments above $59,500 and $60,000.

Major areas of Resistance - $59,360, $59,780 and $60,120.
Major Support areas - $58,670, $58,240 and $57,850.

H4 chart :
Bitcoin price is below the EMAs and below the Ichimoku Cloud.
The price of Bitcoin needs to return with positive moves above $60,000 for the next few sessions so as not to continue negative corrections below $58,500 and $57,800.
It will be of utmost importance that buyers return Bitcoin's price to above the 100 EMA.
If the buyers fail in these turns of the positive developments up the EMA 100 the sellers will take the Bitcoin price to test at the EMA 200 (pink line) in the price area of U$56,400.
Follow the buyers in attempts to positively advance above U$ 59,220, now at the time of writing.
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$ 59.571 // U$ 60.285 // U$ 61.073 // U$ 61.806.
Supports: U$ 58,820 // U$ 58,032 // U$ 57,326 // U$ 56,347.
https://www.tradingview.com/x/L8ilWCBt/

H1 chart :
Bitcoin price is tracking below the EMAs and below the Ichimoku Cloud.
It will be of utmost importance that the Bitcoin price stays supported above the price area of U$ 58,500 and U$ 58,000, in order not to have further negative corrections below the price areas of U$ 57,220 and U$ 56,780.
Only with the return of positive developments upwards from the price areas of U$ 59,780 and U$ 60,220 for the Bitcoin price to leave a risk area of the continuities of the negative corrections.
Follow the buyers in the difficulties of keeping the Bitcoin price above U$ 59,000.
Resistances: U$ 59.276 // U$ 59.775 // U$ 60.273 // U$ 60.703.
Supports: U$ 58,486 // U$ 57,891 // U$ 57,309 // U$ 56,561.
https://www.tradingview.com/x/1PdlK93w/

Dominance 46.8 %
" True wealth is made with conquests that no one can steal. " ----- Jony Wilson

Continue to follow My Analysis also on Tradingview:
https://br.tradingview.com/chart/BTCUSDTPERP/5pINVRQj/

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 455