Bitcoin Price Evolution Analysis 09.15.2021
by CSM TRADER
BTC price U$ 47.626.
USD/BRL price R$ 5.24.
Price EUR/BRL R$ 6.19.
Price Gold 1g R$ 303.44.
Good morning to all readers.
Bitcoin price is still in an uptrend above the $46,500 price area and above the 100 EMA (H1).
The Bitcoin price in past sessions, remained in consolidations above the U$45,380 price area.
In the case mentioned above, the Bitcoin price began a new rise above the U$46,000 resistance area and the EMA 100 (H1)
Bitcoin price has broken through resistance areas of U$ 46,200 and U$ 46,500.
With these positive developments underway, the Bitcoin price has made the necessary advances above U$47,000, where just now it has already tested the U$47,720 price area.
Now at the time of writing, the Bitcoin price is still in the U$47,400 price area.
It will be very important for the Bitcoin price to continue its consolidations and positive developments above the $47,220 and $47,000 price areas in the coming sessions.
If the Bitcoin price fails to continue positive developments above $47,880 and $48,120, negative corrections could come back with force below $47,220 and $46,500.
Only with one more leg above $48,120 and with consolidations above $47,890 and $48,000, will the Bitcoin price continue and go in search of positive evolutions above $50,000.
A Daily closing was made above the price area of U$47,087.
For today it would be important to continue with a closing above $47,500.
Ideally, a close above the $48,220 price area would be important.
Buyers have returned to full control of the situation once they stay with the Bitcoin price above the U$ 46,500 price area and above the 100 EMA (H1).
If the buyers do not achieve the necessary developments above the $47,500 price area, and still keep the Bitcoin price above it for the next few sessions, the sellers could initiate a downward correction, down below the $47,220 and $47,080 price areas; where an immediate support will be in the $46,500 price area.
Below this price area of $46,500 sellers will gain more strength, where they will continue the downside down to below the $46,000 and $45,780 price areas.
Major areas of Resistance - U$47,500, U$48,000 and U$48,666
Main Areas of Support - U$47,000, U$46,500 and U$46,320.
Bitcoin price follows above the EMAs and almost exiting above the Green Ichimoku Cloud.
The Bitcoin price needs to continue the positive developments above the Ichimoku Cloud where it should remain supported above it, to wait for the 5 and 20 EMAs to support further consolidations and positive advances above $48,000 and $49,500.
If the Bitcoin price votes into the Ichimoku Cloud the downside corrections could come back below $47,000 and $46,780.
The Ichimoku Cloud could serve as a good support base for the coming sessions.
Follow the buyers as they attempt the positive advances above $47,780.
The chart in H4 will follow the whole week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.
Resistances: U$ 47.740 // U$ 48.221 // U$ 48.661 // U$ 49.346.
Supports: U$ 47,054 // U$ 46,604 // U$ 46,145 // U$ 45,393.
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
Bitcoin price needs to give the continuities of positive developments above the EMA 5 so that the breakout tests of U$48,000 can occur in the near term.
If the Bitcoin price lives to open a candle below the EMA 5 for the next few sessions, the possibilities of negative corrections back below $47,220 could occur.
Follow the buyers in the attempts of the positive advances above U$47,780 and U$48,000, which will be of extreme importance in the near term.
Resistances: U$ 47.722 // U$ 47.982 // U$ 48.303 // U$ 48.573.
Supports: U$ 47,354 // U$ 47,056 // U$ 46,728 // U$ 46,308.
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