Bitcoin Price Evolution Analysis 09.30.2021

by CSM TRADER                                                                                                                 

 Nº 441

BTC price U$ 42.946.  

USD/BRL price R$ 5.41.

Price EUR/BRL R$ 6.26.

Price Gold 1g R$ 301.43.

Good morning to all readers.

Bitcoin price continues in an uptrend above the U$ 42,220 price area and above the 100 EMA (H1).

Bitcoin price in the past sessions failed to give the continuities of its positive moves upwards from the price area of U$42,550, and came back with the negative corrections downwards from the price areas of U$42,000 and U$41,000, and thus making a slightly higher bottom than its previous ones in the price area of U$40,885, and came back with the strong positive moves upwards from U$41,000 and U$42,000, and even testing the price area of U$43,822.

Now at the time of writing the Bitcoin price is still in negative corrections after testing the U$43,822 price area and is still in the U$42,898 price area.

Bitcoin price needs to stay above the EMA 100 (H1) or even above the U$42,500, to give the consolidations continuities and return to positive developments for breakout attempts in the U$44,000 and U$44,360 price area.

If the Bitcoin price fails to make positive moves above $44,220 or even make a Double Top between these price areas, the negative corrections could come back with force and go below the $43,500 and $42,500 price areas, where a stop above $42,000 would be necessary to prevent the negative corrections from continuing below $41,780 and $41,500.

Only with continued positive advances above $44,220 and $44,328 and still supported above the 5 and 20 EMA for the Bitcoin price not to return with negative corrections below $42,500. Above $44,380 the continuation of positive advances will go to test in the price area of $45,000 and $45,120.

A close above the $41,499 price area has been made.

A close above the $43,680 price area would be very important for today.

Buyers have regained control of the situation, but they need to keep Bitcoin's price above the U$42,500 and U$42,000 price areas and above the 100 EMA (H1).

If the buyers fail to provide the continuities of the positive developments with the Bitcoin price above the U$44,000 and U$44,220, the sellers will take advantage and get into control of the situation where they can create the downsides to below the U$42,500 and U$42,000.

It will be of extreme importance for buyers in the short term to stay above the U$43,500 price area for further consolidations and to give the continuities of positive developments above U$44,220 which would take the Bitcoin price to tests in the U$45,000 price area.

Major areas of Resistance - U$ 43,500, U$ 43,880 and U$ 44,360.

Major Support areas - U$ 42,500, U$ 42,000 and U$ 41,780.

H4 chart :

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

It will be important that the Bitcoin price continues its positive developments above the EMA 50 and goes in search of the EMA 100 for the attempts of an exit above the Ichimoku Red Cloud, for the possible continuation of the positive developments above the $44,500 and $45,000.

If the Bitcoin price fails on these positive moves above the EMA 100 (white line) and misses the EMA 50 (gray line), the negative corrections will move back below the $42,500 and $42,000 price areas, and a retest of the LTA could come to pass.

Follow the buyers in attempts to keep the Bitcoin price above the EMA 50 or even above the $42,500 price area.

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

Resistances: U$ 43.475 // U$ 44.195 // U$ 44.883 // U$ 45.778.

Supports: U$ 42,707 // U$ 42,036 // U$ 41,076 // U$ 40,100.

https://www.tradingview.com/x/pE8ZaqtD/

H1 chart :

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

The Bitcoin price needs to get back supported above the EMA 5 (green line) and 200 (pink line) to continue the positive developments above $43,500 and attempt the breakout of $44,000 for the next few sessions.

If the Bitcoin price fails in these short-term positive advances above $43,500 and $43,780 the negative corrections could come back below $42,500 and $42,120.

Follow the buyers in attempts to get Bitcoin price back above the 5 and 200 EMA.

Resistances: U$ 43,173 // U$ 43,638// U$ 43,996 // U$ 44,320.

Supports: U$ 42,765 // U$ 42,449 // U$ 41,950 // U$ 41,543.

https://www.tradingview.com/x/p4S7OJez/

Yesterday's Chart :

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

Dominance 44.49 %.

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Nº 441