Bitcoin Price Evolution Analysis 09.20.2021

by CSM TRADER                                                                                                                

 Nº 434

BTC price U$ 44.280.  

USD/BRL price R$ 5.28.

Price EUR/BRL R$ 6.19.

Price Gold 1g R$ 298.96.

Good morning to all readers.

The Bitcoin price is still in a downtrend at below the U$ 46,500 price area and the EMA (H1).

The Bitcoin price in the past sessions, failed to make the necessary advances upwards from the $48,500 price area, and has again had the negative corrections downwards from the $48,000, $47,000, $46,000 and $45,000 price areas reaching just now the $44,004 price area.

Now at the time of writing the price of Bitcoin is in the U$44,200 price area.

The Bitcoin price could go for a test in the price area of U$43,300 and U$42,100, where a break of U$42,000, could generate the continuities of negative corrections downwards from the price areas of U$41,500 and U$40,780, where a test in the price area of U$39,500 could occur.

Only with the turns of the positive advances above $46,220 and above the EMA 20, for the possibilities of the turns of the positive advances above $47,000 could arise, and still staying above the EMA 100 (H1) for the continuities of the positive developments.

A close of the Journal was made in the price area of $47,250.

For today it would be important to close the Journals above the $44,500 price area, to invalidate the continuity of negative corrections below $43,500.

Sellers have taken control of the situation after buyers failed in their attempts to make positive advances above the $48,500 price area.

Sellers are looking for the breakout of the $42,000 price area.

Only with the buyers' turns with the Bitcoin price and consolidations upwards from the price areas of U$45,500 and U$46,220, will they be able to regain control of the situation and will still have to attempt the turns of the positive developments upwards from U$47,340, to get out of the continuities of the strong downside coming up created by the sellers downwards from U$43,000.

Major areas of Resistance - U$44,680 U$45,120 and U$45,500

Major Support Areas - U$44,000, U$43,500 and U$42,780.

H4 chart:

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

The price of Bitcoin follows in strong downward corrections below the $45,000 price area.

It would be necessary for the Bitcoin price to attempt a Pullback above the $45,500 price area, and still stay in consolidations above it, for the attempts of the turns of the positive developments to give the sequences above the $46,000 price area.

But .... in the current situation the probabilities of the continuities of the negative corrections below the price area of $43,500 and going in search of the last bottom formed in the price area of $42,100 are more likely to happen, for the next sessions.

Follow the sellers forcing the downside continuities below the $43,500 and $43,000 price area, where they have already tested the $43,399 price area.

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

Resistances: U$ 44.402 // U$ 45.344 // U$ 46.003 // U$ 46.831.

Supports: U$ 43,357 // U$ 42,663 // U$ 42,087 // U$ 41,349.

https://www.tradingview.com/x/tdpxY1kH/

H1 chart:

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

Bitcoin price continues on its downward corrections to below $44,500.

The Bitcoin price may look for the last bottom formed in the $42,100 price area, where it could still extend these downward corrections below $41,500 and $40,780.

Only with the turns of the positive advances above $45,500 and $46,000, could the possible turns of the positive developments above $47,000 and $48,000 occur.

Follow the buyers in their attempts to stop the sellers above $43,000.

But the odds of the downside created by sellers below U$43,000 and U$42,500 are still stronger than a return above U$45,500 and U$46,000 for the next few sessions.

Resistances: U$44,252 // U$45,064 // U$45,751 // U$46,528.

Supports: U$ 43.168 // U$ 42.409 // U$ 41.789 // U$ 41.112.

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

Dominance 44.38 %

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Lou Holtz

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Nº 434