Bitcoin Price Evolution Analysis 09.22.2021

by CSM TRADER                                                                                                                 

 Nº 436

BTC price U$ 42.150.  

USD/BRL price R$ 5.27.

Price EUR/BRL R$ 6.18.

Price Gold 1g R$ 303.07.

Good morning to all readers.

The Bitcoin price is still in a downtrend at below the price area of U$44,220 and the EMA 100 (H1).

The Bitcoin price in the past sessions, failed its positive developments upwards from the price area of $43,700 and came back with its negative corrections downwards from the price areas of $43,000, $42,000, $41,000 and $40,000, even testing the price area of $39,500.

Then it returned with positive moves upwards to $40,000 and $42,000.

Now at the time of writing the Bitcoin price is tracking in the U$42,010 price area.

The price of Bitcoin will follow with negative corrections to test in the price area of U$39,500 again, and could still go below this bottom in the price area of U$39,220 and U$38,680.

In the case mentioned above; only with the resumption of positive advances upwards from the price areas of U$42,780 and U$43,500 for the next few sessions, for the Bitcoin price to get out of a risk area of the continuities of negative corrections downwards from U$41,500 and U$40,000, and still be supported above the EMA 50 and in strong consolidation, for possible positive advances of attempts upwards from U$44,220 and U$44,780.

A close of the Journal was made in the price area of $40,120.

A close of the Journal above the $42,500 price area would be necessary for the possible return of positive moves above $43,000.

Buyers continue to have great difficulty in continuing positive advances above the price areas of $42,500 and $42,780.

Buyers would need to advance the price of Bitcoin above the U$42,500 and U$43,000 price areas.

If buyers fail in these positive advances above U$42,500, sellers will regain control of the situation where they can again create the downside below U$42,000 and U$41,500, where buyers will need to defend the U$41,160 price area, as below this price area sellers will gain more strength and continue with the downside below U$41,000 and U$40,500.

Major areas of Resistance - U$42,500, U$43,000 and U$43,500

Major Support areas - U$42,080, U$41,666 and U$41,160.

H4 chart :

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

The Bitcoin price needs to continue positive moves above $42,500, and advance above $43,000 to enter further consolidations and attempts at positive moves above $43,500 and $43,780.

If the Bitcoin price already fails on these positive advances above U$42,500, the negative corrections will come back below U$42,000 and U$41,500, where an immediate support is at U$41,160, if it is broken, the negative corrections will follow up below U$40,780 and U$40,500.

Follow the sellers with the Bitcoin price forcing to give the downside continuities below $41,780.

The chart in H4 will follow the whole week to have a parameter of the Bitcoin Price Evolution. Only a few adjustments will be made.

Resistances: U$ 42.656 // U$ 43.709 // U$ 44.746 // U$ 45.713.

Supports: U$ 41,960 // U$ 41,153 // U$ 40,272 // U$ 39,477.

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

H1 chart :

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

It will take for the Bitcoin price the returns of consolidations above the 5 and 20 EMAs and attempts of the positive advances above the strong resistance of $42,500 for the possibilities of the continuities of the positive advances above the $42,780 price area and attempts of the positive advances above $43,000, for the next few sessions.

If the Bitcoin price fails to move positively above $42,500, the negative corrections will move back below $42,000 and $41,780.

It follows buyers trying to defend the $42,000 price area, as below this, sellers will gain more strength where they will continue the downside downwards to below $41,500 and $41,220.

Only with the positive advances of buyers above U$42,500 and still keep the Bitcoin price above this price area, to get out of the downside loops of sellers below U$41,500.

Resistances: U$ 42,231 // U$ 42,492 // U$ 42,714 // U$ 42,950.

Supports: U$ 41,980 // U$ 41,567 // U$ 41,163 // U$ 40,775.

https://www.tradingview.com/x/wD8BkIwM/

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Nº 436