Bitcoin Price Evolution Analysis 09.16.2021
by CSM TRADER
Nº 432
BTC price U$ 47.950.
USD/BRL price R$ 5.22.
Price EUR/BRL R$ 6.14.
Price Gold 1g R$ 303.17.
Good morning to all readers.
Bitcoin price is still in an uptrend above the $46,500 price area and the 100 EMA (H1).
The Bitcoin price in the past sessions, had its good positive developments upwards from the price areas of U$47,500, U$48,000 and U$48,220, even testing the U$48,444 price area.
It then went into negative corrections up to the price area of U$47,328 and came back strongly with positive moves up to test the U$48,488 price area.
Now at the time of writing, the Bitcoin price is tracking in the U$47,948 price area.
The Bitcoin price has already shown that the U$48,500 price area will be a strong resistance to break through.
It will be necessary for the Bitcoin price to make positive advances upwards from the $48,220 and $48,500 price areas in the coming sessions so that the continuation of positive advances upwards from the $49,000 and $50,000 price areas can be realized.
If the Bitcoin price does not achieve these positive moves above $48,500 and $48,780, the negative corrections will appear again where this time they could go below the bottom formed in the $47,328 price area, and even extend below $47,000.
Only with the continuity of consolidations and with positive advances above the 20 and 5 EMA for the Bitcoin price to follow its trajectory to go in search of the $50,000.
A close of the Journal was made above the price area of U$48,060.
For today, a Journal close above the $48,500 price area would be important.
A Journal close below the U$47,380 price area could lead the price of Bitcoin into strong downward corrections.
Buyers remain in control of the situation, but are having a hard time in the short term to return positive developments above the U$48,000 and U$48,220 price areas.
If buyers fail again in their attempts to make positive moves above the strong resistance of $48,500, sellers will take control of the situation where they can again create the downside below $48,000 and $47,380 and extend the downside below $47,000 and $46,780.
Major Areas of Resistance - U$48,000 U$48,500 and U$48,890
Main Areas of Support - U$47,300, U$47,000 and U$46,720.
H4 chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
As written in my Analysis of yesterday 09.15.2021, the Bitcoin price remains supported above the Ichimoku Cloud.
It will be of utmost importance that the Bitcoin price continues its consolidations above the Ichimoku Cloud for the votes of the positive developments above the price areas of $48,000 and $48,220.
If the price of Bitcoin fails to continue positive moves above $48,500, where it has failed twice already, the negative corrections will come back with force and go for the price areas below $48,000 and $47,300.
Follow the buyers in their attempts to continue the positive developments above $48,000, which will be of extreme importance for the coming sessions.
The chart in H4 will follow all week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.
Resistances: U$ 47.971 // U$ 48.488 // U$ 49.072 // U$ 49.467.
Supports: U$47,690 // U$47,318 // U$46,901 // U$46,445.
https://www.tradingview.com/x/cUgM03Hy/
H1 chart:
Bitcoin price follows above the EMAs and above the Ichimoku Cloud.
It will be important in the near term that the Bitcoin price manages to continue the positive developments above the EMAs 5 and 20 for the votes of the attempts of the breakout of U$ 48,500.
If the Bitcoin price already fails on the positive moves upwards from $48,000 and $48,220, the negative corrections could come back down to below $47,5000 and $47,000.
Follow the buyers in their attempts to keep the Bitcoin price above U$ 47,700 and still need to give the continuities of the positive developments above U$ 48,000.
Resistances: U$ 48,179 // U$ 48,310 // U$ 48,462 // U$ 48,589.
Supports: U$47,920 // U$47,802 // U$47,674 // U$47,526.
https://www.tradingview.com/x/6u8vvz3O/
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Nº 432
