Bitcoin Price Evolution Analysis 09.27.2021

by CSM TRADER                                                                                                                 

 Nº 438

BTC price U$ 43.800.  

USD/BRL price R$ 5.34.

Price EUR/BRL R$ 6.24.

Price Gold 1g R$ 301.00.

Good morning to all readers.

Bitcoin price is still in an uptrend above the price area of U$ 42,600 and above the EMA 100 (H1).

Bitcoin price in the past sessions after a double bottom in the price areas of U$40,650 and U$40,724, came back strong with its positive developments upwards to the price areas of U$41,000, U$42,000, U$43,000 and even testing the price area of U$44,350.

Now at the time of writing, the Bitcoin price follows in the price area of U$43,722 and above the 100 EMA (H1).

The price of Bitcoin follows with a small negative correction below the tested price area which was at $44,350.

It will be necessary for the Bitcoin price to continue its consolidations and positive developments above the 100 (H1) for the coming sessions.

If the Bitcoin price remains above the EMAs 20 and 5, the odds of a retest or even a breakout of the $44,500 price area could come to pass, and even extend to test in the $45,000 and $45,360 price area, where it will have to stay above $44,120 for further consolidations and possible advances above $45,500.

On the other hand, if the Bitcoin price fails to make these positive advances above $44,120 or even $44,500, the negative corrections could come back with force below the $43,000 price area, where a stop above the $42,500 price area will be mandatory in order to avoid having the negative corrections continue below $42,220 and $42,000.

Only with the continuities of the positive advances above $44,500 for the Bitcoin price not to make a double top and return to the negative corrections below $43,500.

A Journal close was made above the $43,151 price area.

For today a close above the $43,580 price area would be important.

Ideally, a good close above the $44,120 price area would be important.

Buyers are back in control of the situation, but need to continue positive moves above $44,500 for the next few sessions.

If the buyers fail on these positive developments above $44,500, they will have to try to keep the Bitcoin price above the $43,220 price area, so that the sellers do not get into control of the situation below $43,000 and give the downside continuities below $43,000 and $42,780.

The buyers' control point is at the $43,200 price area or the 100 EMA (H1).

Below this price area, sellers come into control of the situation and where they might extend the downside in search of the $42,000.

Major areas of Resistance - U$43,900, U$44,300 and U$44,500.

Major Support areas - U$43,500 U$43,200 and U$42,880.

H4 chart :

The Bitcoin price follows above the EMAs 20 and 5 and a little above the EMA 50 (gray line), but follows below the EMAs 100 and 200 and is inside the Red Ichimoku Cloud.

It will be necessary for the Bitcoin price to continue its attempts to break out of the Ichimoku Cloud in order for the positive developments to continue and still remain supported for a few sessions by the Ichimoku Cloud.

If the Bitcoin price fails for the next few sessions at this breakout of the Ichimoku Cloud, negative corrections will follow inside the Ichimoku Cloud and an exit below the $43,500 price area could occur.

Follow the buyers in their attempts to continue the positive developments above $43,880.

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

Resistances: U$ 44.233 // U$ 44.811 // U$ 45.453 // U$ 46.079.

Supports: U$ 43,294 // U$ 42,652 // U$ 42,058 // U$ 421,307.

https://www.tradingview.com/x/0chGuvTh/

H1 chart :

Bitcoin price follows above the EMAs 50, 100, 20 and a little bit above the EMA 5, however it follows below the EMA 200 which is being a strong resistance to overcome.

The Bitcoin price needs to stay above the EMA 20 and 50 which is coming in to provide more support and keep the consolidations continuing above them so that positive developments above $44,000 can emerge.

If the price of Bitcoin loses the EMA 20 or even opens a candle below it, the negative corrections could go for a test at the EMA 50 that needs to hold the blow in order not to have the continuities of the negative corrections below the $43,000.

Follow the buyers in the attempts of the positive evolutions above the U$43,880 and U$44,000, which will be of extreme importance for the next sessions.

Resistances: U$ 43,870 // U$ 44,085 // U$ 44,307 // U$ 44,545.

Supports: U$ 43,597 // U$ 43,342 // U$ 43,086 // U$ 42,842.

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

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Nº 438