Bitcoin Price Evolution Analysis 09.17.2021

by CSM TRADER                                                                                                                

 Nº 433

BTC price U$ 47.438.  

USD/BRL price R$ 5.25.

Price EUR/BRL R$ 6.19.

Price Gold 1g BRL 296.60.

Good morning to all readers.

The Bitcoin price is still in an uptrend above the $47,000 price area and above the 100 EMA (H1).

In past sessions, the Bitcoin price again encountered the difficulties in giving the upward continuities from the U$48,500 and U$48,200 price areas, and with that came the downward negative corrections from the U$48,000 and U$47,500 price areas.

Now at the time of writing, the Bitcoin price is still in negative corrections in the U$47,360 price area.

It will be of utmost importance that the Bitcoin price stays above the U$47,000 price area and the 100 EMA (H1), for the next few sessions.

If the Bitcoin price opens a candle below the EMA 100 (H1) negative corrections could go below the U$47,000 and U$46,680 price areas.

Only with continued consolidations and with positive developments above the EMA 100 (H1) and above $47,000, for the Bitcoin price to return to the attempts of the breakout of $48,220 and $48,500; below $47,000 negative corrections will go below $46,500.

A close of the Journal was made in the price area of $47,745.

For today it would be of extreme importance to close the Journal above $47,220, as below this price area negative corrections will go below $46,780 and $46,000 for the Weekly close.

Buyers are increasingly experiencing the difficulties of positive developments upwards from the price areas above $48,300.

It will be necessary for buyers to bar sellers above the $47,000 price area.

If buyers fail to stop sellers above the $47,000 price area, sellers will come in strongly in control of the situation where they can create the downside below $46,780 and $46,500 and still go for the $46,000 breakout.

Major areas of Resistance - U$47,880, U$48,000 and U$48,220

Major Support areas - U$47,300, U$47,000 and U$46,780.

H4 chart:

The Bitcoin price follows above the 200, 100, 50 and 20 EMAS, however it is still below the 5 EMA and is entering the Red Ichimoku Cloud.

The EMAs 20 and 100 will be the turn to provide support so that the Bitcoin price does not continue its negative corrections below $47,000 and enters fully into the Ichimoku Cloud.

It will be of utmost importance that the price of Bitcoin returns to support the above Ichimoku Clouds in order to return to attempts at positive developments above $48,000 and $48,300.

If the price of Bitcoin continues to struggle for the next few sessions with these positive advances above $48,120, the negative corrections will enter the Ichimoku Cloud and still go below the 100 EMA, where they could extend below $46,500.

Buyers are still trying to defend the $47,000 price area.

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$ 47,778 // U$ 48,295 // U$ 48,769 // U$ 49,117.

Supports: U$ 47,454 // U$ 47,029 // U$ 46,671 // U$ 46,214.

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

H1 chart:

Bitcoin's price follows above the 200 and 100, however it follows the below the 5 and 20 EMAs and a little bit below the 50 EMA and is still inside the Green Ichimoku Cloud.

It will be of utmost importance in the near term that the Bitcoin price manages to come back with positive evolutions above the 50, 20 and 5 EMAs and still rises above the Ichimoku Cloud to return to attempts of new consolidations above $47,880 and $48,000.

If the Bitcoin price fails in the aforementioned case, the downside corrections will give their continuities from the LTA breakout where they will give continuities below the $47,000 and $46,780.

Follow the buyers in their attempts to get Bitcoin price back above the 20 and 5 EMA.

Resistances: U$ 45,705 // U$ 47,913 // U$ 48,050 // U$ 48,191.

Supports: U$ 47,459 // U$ 47,267 // U$ 47,104 // U$ 46,931.

https://www.tradingview.com/x/dxj5cfTF/

Dominance 43.33 %.

"We should be taught not to wait for inspiration to start something. Action always generates inspiration. Inspiration rarely begets action. " ----- Frank Tibolt

Continue to follow My Analysis on Tradingview as well:

https://br.tradingview.com/chart/BTCUSDTPERP/wxJWIpGL/

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

Nº 433