Bitcoin Price Evolution Analysis 09.21.2021

by CSM TRADER                                                                                                                

 Nº 435

BTC price U$ 43.090.  

USD/BRL price R$ 5.32.

Price EUR/BRL R$ 6.24.

Price Gold 1g R$ 301.95.

Good morning to all readers.

Bitcoin price is still in a downtrend below the U$45,500 price area and the 100 EMA (H1).

The price of Bitcoin in the past sessions after a double top in the price area of $48,400 and still with the panic generated in the world market about the Evergrande breakup, gave its continuities of negative corrections downwards from the price areas of $48,000, $47,000, $46,000, $45,000, $44,000, $43,000, $42,000 and $41,000, and still testing the price area of $40,129.

The price of Bitcoin followed with a small positive evolution up to the price area of U$ 43,477.

Now at the time of writing the Bitcoin price is in the $43,225 price area.

It will be very important for the Bitcoin price to continue its consolidations above the EMA 5 (H1) and attempt the necessary positive developments above the EMA 20 (H1), or even above the price areas of U$43,500 and U$43,780, for the possible continuations of positive developments above the U$44,500 price area and tests in the U$45,000 price area to come about.

If the Bitcoin price were to fail in these positive moves upwards from the U$44,000 and U$45,000 price areas, the negative corrections could come back down again from the U$43,000 and U$42,500 price areas, and go for the breakout of the last bottom formed in the U$40,129 price area and still extend downwards from the U$39,780 and U$39,500 price areas.

Only with positive advances upwards from the EMA 20 (H1) and the U$44,000, for the Bitcoin price to begin to move out of a risk area of the negative correction turns to below the U$43,000 and U$42,500.

A Journal close was made in the U$43,026 price area.

For today a good closing of the Journal would be above the $43,500 price area.

Ideally, a close above the $44,220 price area would be ideal.

Buyers are still trying to regain full control of the situation above the $44,000 price area, which will be of extreme importance for the next few sessions.

If the buyers fail in these positive developments with the Bitcoin price above U$44,000 and U$44,220 for the next few sessions and still keep the Bitcoin price in further consolidations above them, the sellers will again create the downside below U$43,000 and U$42,500.

Buyers will have to find a way to block sellers above the U$42,000 price area, because below U$42,000, sellers will gain more strength where they can take Bitcoin's price below U$41,000 and U$40,500.

Major areas of Resistance - U$43,500, U$44,000 and U$44,480

Major Support Areas - U$43,120, U$42,500 and U$41,780.

H4 chart :

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

The price of Bitcoin needs to continue positive moves above the $43,800 price area or even above the EMA 5 (green line) in order to continue positive moves above $44,000.

If the Bitcoin price fails to make these positive moves above $44,000, the negative corrections could come back below $43,500.

Follow the buyers in their attempts to continue the positive moves above $43,500.

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$ 43,884 // U$ 44,883 // U$ 45,789 // U$ 46,718.

Supports: U$ 43,129 // U$ 41,960 // U$ 41,092 // U$ 40,168.

https://www.tradingview.com/x/PkyfLSe7/

H1 chart :

Bitcoin price follows above the 5 EMA and is already coming out above the 20 EMA, however it follows below the 50, 100 and 200 EMAs and below the Ichimoku Cloud.

It will be important that the Bitcoin price continues its positive developments above the EMA 20 and goes for a test at the EMA 50.

If the Bitcoin price achieves the necessary advances above the EMA 50 and still remains in consolidations above it for the next few sessions, the odds of continued positive advances above $45,000 and $46,000 could re-emerge.

On the other hand, if the Bitcoin price fails in these positive advances upwards of $44,000 and $44,500, the negative corrections could come back down below $43,120 and $42,780.

Follow the buyers in their attempts to keep the Bitcoin price above the EMA 20 (yellow line).

Resistances: U$ 43,660 // U$ 44,285 // U$ 44,889 // U$ 45,677.

Supports: U$ 43.107 // U$ 42.565 // U$ 42.043 // U$ 41.613.

https://www.tradingview.com/x/8hrKgVKX/

Yesterday's chart :

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

Dominance 43.74 %.

" There is nothing completely wrong in the world, even a stopped clock can be right twice a day. " -- Paulo Coelho

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Nº 435