Bitcoin Price Evolution Analysis 09.29.2021

by CSM TRADER                                                                                                                

 Nº 440

BTC price U$ 43.310.  

USD/BRL price R$ 5.42.

Price EUR/BRL R$ 6.33.

Price Gold 1g BRL 302.62.

Good morning to all readers.

Bitcoin price is still in a downtrend at below the U$42,600 price area and below the 100 EMA (H1).

The Bitcoin price in the past sessions failed to give its continuities of positive developments upwards from the price areas of U$42,200 and U$42,400, and came back with the continuities of negative corrections downwards from the price areas of U$42,000 and U$41,000 and even testing the price area of U$40,708, and making another bottom in this price area.

We have 3 bottoms in the price areas of $40,650, $40,724 and $40,708.

It will be of utmost importance that the Bitcoin price continues its consolidations and positive developments above these 3 bottoms, in order to avoid further negative corrections below them.

Now at the time of writing, the Bitcoin price is in the $42,348 price area.

The Bitcoin price is still supported above the EMA 50 (H1).

The Bitcoin price needs continued consolidations and positive moves above the $42,000 price area and to try to enter the Red Ichimoku Cloud (H1) for possible continued positive moves above the EMA 100 (H1) and $42,500.

If the Bitcoin price fails on these positive developments above the Ichimoku Cloud, the probabilities of climbing below and outside the Ichimoku Cloud could arise, which implies the turns of the negative corrections below it, and below the price area of U$42,000 and U$41,780.

Only with the continuities of the positive advances above U$42,500 and U$42,780 for the Bitcoin price not to enter again into negative corrections below U$42,000 and go in search of the U$43,000 and U$43,380 price area.

A Journal close was made in the price area of U$41,002.

A close above the $42,220 price area would be important for today.

Buyers are trying to regain control of the situation, but need to continue positive moves above the 100 EMA (H1) or even above $42,500 for the next few sessions.

If the buyers fail with the Bitcoin price on these positive advances upwards of U$42,440 and U$42,580 and still stay with the Bitcoin price above U$42,500, the sellers will get back in control of the situation where they can again create the downside downwards from the U$42,120 and U$42,000 price areas.

It will be of utmost importance for buyers to try to keep the Bitcoin price above the EMA 20 and above the U$42,000 price area, so that sellers do not gain strength and give the downside continuities below the U$41,500.

Only with the continuities and attempts of positive developments above the EMA 100 (H1), for buyers to get out of a risk area of possible return of sellers in control of the situation.

Major Resistance areas - U$42,500, U$42,800 and U$43,000.

Major Support areas - U$42,220, U$42,000 and U$41,680.

H4 chart :

The price of Bitcoin follows above the EMA 5, but follows below the EMAs 20, 50, 100 and 200 and follows below the Ichimoku Cloud.

The price of Bitcoin needs to continue positive developments for the attempts to enter the Red Ichimoku Cloud to achieve the continuity of positive developments above the $42,500 price areas, and still surpass the EMA 50 and stay supported above it.

If the Bitcoin price fails to move above the EMA 20 the negative corrections could come back below $42,220 and extend below the EMA 5 into the $42,080 price area.

Follow the buyers in attempts to keep the Bitcoin price above the EMA 5 which will be of extreme importance for the coming sessions.

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$ 42.567 // U$ 43.382 // U$ 44.179 // U$ 45.048.

Supports: U$ 42,092 // U$ 41,210 // U$ 40,073 // U$ 39,208.

https://www.tradingview.com/x/fxtP0ttB/

H1 chart :

Bitcoin price follows above the 20 and 50 EMA and a little bit below the 5 EMA, and follows below the 100 and 200 EMAs and a little below the Ichimoku Cloud.

It will be of utmost importance that the Bitcoin price continues its consolidations above the EMA 50 and EMA 20 for the continuities of the attempts to enter the Ichimoku Cloud and give the continuities of the positive developments above $42,500 and $42,780.

If the Bitcoin price fails to enter the Ichimoku Cloud the downside corrections will continue climbing up the Ichimoku Cloud from below and off and may go below the $42,000 price areas.

Follow the buyers in the difficulties of trying to keep the Bitcoin price above the EMA 5.

Resistances: U$ 42,472 // U$ 42,743 // U$ 42,936 // U$ 43,196.

Supports: U$ 42,191 // U$ 41,925 // U$ 41,655 // U$ 41,384.

https://www.tradingview.com/x/WmEss4ZI/

Dominance 44.07 %

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Nº 440