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Bitcoin Price Evolution Analysis 10.28.2021

By CSM TRADER | CSM TRADER | 28 Oct 2021

Bitcoin Price Evolution Analysis 10.28.2021

by CSM TRADER                                                                                                                

 Nº 456

BTC price U$ 61.166.  

Price USD/BRL R$ 5.53.

Price EUR/BRL R$ 6.41.

Price Gold 1g R$ 321.36.

Good morning to all readers.

As blockchain technology weaves threads of gold into exciting new use cases, promising solutions such as cryptocurrencies, NFTs, and DeFi are continually gaining more attention, cementing themselves as significant contributors to the overall growth of the ecosystem. Amidst this growing market, blockchain gaming is another promising sector that has already proven its potential.

As blockchain games facilitate the play-to-earn (P2E) model, there has been an increase in demand for these games, in part due to the economic crisis due to the Covid-19 pandemic. According to BGA Blockain Game Report data over 840,000 users have joined at least 1 or 2 available play-to-earn games, increasing aggregate usage by 121% in terms of unique and active wallets between June and August 2021.



Bitcoin price has returned in its uptrend above the $60,500 price area in just 1 candle (H1) and above the 100 EMA (H1).


In past sessions, the Bitcoin price was in strong consolidations between the U$59,300 and U$58,200 price areas.

After these strong consolidations and failing to continue the downward corrections below $58,000, the Bitcoin price came back strongly above the $59,000, $60,000, and $61,000 price areas.

Now at the time of writing the Bitcoin price is tracking in the U$61,226 price area.

The price of Bitcoin needs to continue its positive developments and move above the $61,500 price area and follow these positive developments up to $62,000, where it should stabilize above $62,120 for further consolidations to be made and continue upwards to the $62,500 and $63,000 price areas.

The Bitcoin price will have to consolidate above $60,780 waiting for the EMA 5 (H1) for further positive developments to occur above $62,000.

If the Bitcoin price fails in the short term to move above the $61,780 and $62,000 price area or even above the EMA 200 (H1), the negative corrections could come back below the $61,000 price area where a stop above the EMA 50 (H1) or even above $60,120 would have to occur in order to avoid the continuation of negative corrections below $60,000 and $59,666.

Only with consolidations and positive evolutions above $61,500, for the Bitcoin price not to have negative corrections below $61,000 and $60,780.

A closing of the Journal was made above the price area of U$ 58,400.

For today it would be important to close the Journal above the U$60,666 price area.


Buyers have regained control of the situation and need to continue positive moves above the $61,500 price area to invalidate a possible double top and begin losing the $61,000, $60,500 and $60,220 price areas again.

Only with positive advances upwards from the $61,500 and $62,000 for buyers to get out of a risk area for sellers to get back in control of the situation and create downside again from the $60,500 and $60,000 price areas; where this time a lower bottom than the previous one could be made.


Major Resistance areas - $61,500, $61,880 and $62,220.

Major Support areas - $61,000, $60,800 and $60,120.


H4 chart :

The price of Bitcoin follows above the EMAs, but remains below the Ichimoku Cloud.

The price of Bitcoin will have to stay above the EMA 20 (yellow line) to have continued positive developments above the $61,500 price area.

It will be of utmost importance that the Bitcoin price stays above the EMA 100 (white line) for the next few sessions, in order not to have the turns of the negative corrections below it.

Follow the buyers in their attempts to continue the positive developments above the EMA 50 (gray line).

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

Resistances: U$ 61.250 // U$ 62.101 // U$ 62.972 // U$ 63.704.

Supports: U$ 60,755 // U$ 60,043 // U$ 59,232 // U$ 57,880.


H1 chart :

The Bitcoin price follows above the EMAs 20, 50, 5 and 100, and a little above the Ichimoku Cloud, but follows a little below the EMA 200.

The Bitcoin price remains under pressure between the 100 and 200 EMAs and is still above the Ichimoku Cloud.

It will be of utmost importance for the Bitcoin price in the near term that it continues its positive moves above the 200 EMA and continues above the $61,500 price area so that positive moves can continue above $62,000 and $62,120.

If the Bitcoin price were to fail on these positive developments above the EMA 200 where 3 tests have already been made on it, the Bitcoin price could enter the Ichimoku Cloud and could return with its negative corrections to below $60,500 and $60,360.

Follow the buyers in their attempts to keep the Bitcoin price above the 100 EMA and above the Ichimoku Cloud, which will be of utmost importance for the upcoming sessions.

Resistances: U$ 61.136 // U$ 61.445 // U$ 61.686 // U$ 62.068.

Supports: U$ 60,805 // U$ 60,560 // U$ 60,286 // U$ 60,011.


Yesterday's chart :


Dominance 46.31 %.

" Your movement determines the range of your conquests. " ----- Joemar Rios



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Nº 456





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