Bitcoin Price Evolution Analysis 09.23.2021

by CSM TRADER                                                                                                                

 Nº 437

BTC price U$ 41.000.  

Price USD/BRL R$ 5.30.

Price EUR/BRL R$ 6.21.

Price Gold 1g R$ 299.77.

Good morning to all readers.

Bitcoin's price follows a downtrend below the $44,000 price area, and below the 100 EMA (H1).

The Bitcoin price in past sessions stayed in consolidations for the attempts of the positive advances upwards from the $45,000 price area.

The Bitcoin price even achieved these positive moves above $45,000, but failed to continue these positive moves above $45,200, even testing the $45,134 price area.

After failing on these positive advances above U$45,200, the Bitcoin price began negative corrections upwards from the U$45,000, U$44,000, U$43,000 and U$42,000 price areas, even testing the U$40,650 price area.

Now at the time of writing, the Bitcoin price is tracking in the U$41,490 price area.

The Bitcoin price will need to come back with positive advances above the U$42,000 and U$42,500 price areas for the next few sessions in the short term, and still hold above these price areas for the possible returns of positive developments above U$43,000 and stay above the EMA 5 (H1).

If the Bitcoin price fails in these positive evolutions, the negative corrections will continue below $40,500 and $40,000, and go for a test in the price area of the last bottom formed in the $39,500 price area, where it could still continue the negative corrections below $39,000 and $38,670.

Only if the short-term positive developments above the U$43,500 area continue with strong consolidations will the Bitcoin price come out of a risk area of negative corrections below U$40,000 and U$39,500.

A Journal close was made in the U$44,830 price area.

For today a close above the $39,500 price area is very important, as below this price area the chances of negative corrections below the $38,220 price area could arise.

Follow the buyers in their attempts to keep the Bitcoin price above the U$41,000 price area.

Major Resistance areas - U$41,500, U$42,000 and U$42,500.

Major Support areas - U$41,000, U$40,680 and U$40,120.

H4 chart :

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

The price of Bitcoin needs to come back with consolidations above the $42,500 price area to break out of a risk area of continued downside corrections below $41,000.

The odds of continued downward corrections to the test in the $39,500 price area could emerge for the next few sessions yet.

Follow the buyers in their attempts to keep the Bitcoin price above $41,000 and need to come back with positive developments above $42,000 in the short term, so as not to have further disadvantages created by sellers below $41,000 and $40,500.

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$ 41,990 // U$ 43,087 // U$ 44,259 // U$ 45,231.

Supports: U$40,694 // U$ 39,512 // U$ 38,276 // U$ 37,404.

https://www.tradingview.com/x/LjF8C1ul/

H1 chart :

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

It will be necessary for the price of Bitcoin to turn the positive developments upwards from the price areas of U$41,500 and U$42,220 in the short term, to get out of a risk area of the continuities of the negative corrections downwards from U$41,000 and U$40,666.

Follow the sellers forcing the downside continuities below the U$41,000.

Resistances: U$41,601 // U$42,469 // U$43,358 // U$44,327.

Supports: U$40,632 // U$39,501 // U$38,471 // U$37,522.

https://www.tradingview.com/x/MbjlM8C4/

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Nº 437