Bitcoin Price Evolution Analysis 09.09.2021

by CSM TRADER                                                                                                                

 Nº 427

BTC price U$ 46.132.  

USD/BRL price R$ 5.32.

Price EUR/BRL R$ 6.29.

Price Gold 1g BRL 302.52.

Good morning to all readers.

Bitcoin price is still in a downtrend below the U$48,220 price area and the 100 EMA (H1).

The Bitcoin price after the strong negative corrections to some past sessions, follows in strong consolidations between the price areas of $45,666 and $46,780.

Now at the time of writing, the Bitcoin price follows in the $46,140 price area.

It will take for the Bitcoin price to stay above the U$ 46,000 price area, and most importantly for the Bitcoin price to stay above the U$ 45,500 price area, where 1 test has already been done.

If the Bitcoin price continues its consolidations above the U$45,780 price area, positive developments could begin to extend above the U$46,500 and U$46,780 price areas, which would be of extreme importance for the upcoming sessions.

If the Bitcoin price does not make the necessary advances above the $46,500 and $46,780 price areas and stabilizes or even advances above $47,000, negative corrections could continue below the $46,000 and $45,780 price areas, where another test of the $45,500 price area could occur.

The Bitcoin price will have to remain above $45,500 for the next few sessions, as below this price area the negative corrections will continue below the $45,220 and $45,000 price areas, where further tests in the $43,500 price area are not ruled out.

Only with positive developments and the price of Bitcoin remaining above $47,500, to get out of a risk area of negative correction turns below $45,500.

A close of the Journal was made above the price area of $46,060.

For today, a close above the $46,780 price area would be important.

Ideally, a close above the $47,220 price area would be important.

Buyers remain in control of the situation, but continue to have great difficulty advancing the Bitcoin price above the U$46,360 and U$46,560 price areas and keeping the Bitcoin price above these price areas.

Buyers need for the next few sessions to positively advance the Bitcoin price above the U$ 46,500 and U$ 46,780 price areas, and further maintain the Bitcoin price above these price areas, to proceed above U$ 47,000 and U$ 47,220.

If the buyers fail in these positive developments for the next few sessions, the sellers will come in strong into control of the situation where they will create the downside below the price areas of $45,780 and $45,500, and still be able to extend these downside below $45,220.

Only with the turns of the positive developments above $46,500 will buyers begin to break out of a risk area of downside created by sellers below $45,780.

Major areas of Resistance - U$46,500, U$47,120 and U$47,500.

Major Support areas - U$46,000, U$45,500 and U$45,120.

H4 chart:

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

Bitcoin price is still tracking below the 200 EMA.

Yesterday in My Analysis I wrote that the Bitcoin price would need to continue the positive developments above the EMA 200; but it has been a few sessions that have passed and several attempts of positive advances above it have been unsuccessful.

Now at the time of writing, the Bitcoin price is still in the $46,023 price area, and it is very difficult to continue trying to make positive moves above the EMA 200 or even above $46,666.

If the Bitcoin price fails to hold above $46,000, the downside corrections will go in search of the $45,500 price area, where once this price area is broken, the downside corrections could extend below the $45,220 and $44,780 price areas.

A search for the bottom of $42,100 could still occur for the next few sessions if the Bitcoin price fails to stabilize above $47,500.

Follow the buyers in attempts to keep the Bitcoin price above U$ 46,000.

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

Resistances: U$ 46,826 // U$ 47,604 // U$ 48,508 // U$ 49,537.

Supports: U$ 46.023 // U$ 45.145 // U$ 44.367 // U$ 42.936.

https://www.tradingview.com/x/EhJe10hg/

H1 chart:

Bitcoin price follows above the 5 and 20 EMAs and below the 50, 100 and 200 EMAs and below the Ichimoku Cloud.

The Bitcoin price needs to give the continuities of consolidations above the EMAs 5 and 20 for the attempts of the positive advances above the $46,500 and $46,780, where the possibilities of the continuities of the positive developments above the $47,000 could arise.

If the Bitcoin price fails to make these positive advances for the next few sessions, the negative corrections will appear and could head downward towards the $46,000 and $45,780 price areas.

Only with positive advances above U$ 46,500 for the Bitcoin price not to enter negative corrections below U$ 46,000.

Follow the buyers in attempts to evolve the Bitcoin price above U$ 46,300.

Resistances: U$ 46,505 // U$ 46,777 // U$ 47,120 // U$ 47,482.

Supports: U$ 46,024 // U$ 45,672 // U$ 45,253 // U$ 44,767.

https://www.tradingview.com/x/p9ooeoHp/

Dominance 42.56 %

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Nº 427