Bitcoin Price Evolution Analysis 12.09.2021
by CSM TRADER
BTC price U$ 49.120.
Price USD/BRL R$ 5.53.
Price EUR/BRL R$ 6.26
Price Gold 1g R$ 319.43.
Good morning to all readers.
Caribbean CBDC is launched.
The Eastern Caribbean Central Bank (ECCB) has expanded its CBDC (DCash) to two more nations in the community: Dominica and Montserrat. Now, the digital version of the EC dollar has been launched in seven of the eight member ECCU countries.
The Eastern Caribbean dollar (EC $) is the currency used by members of the Organization of Eastern Caribbean States (OECS), and a central bank pilot project has launched DCash as a digital version of the currency that can be sent and received via a free app for users based in any Eastern Caribbean country that has launched CBDC. During the pilot period, transactions are processed without transfer fees.
ECCB Governor Timothy NJ Antoine expressed that "the payment system should work for everyone except illicit actors," and DCash "should work for small states and small businesses." Antoine justified the existence of an Eastern Caribbean CBDC as a breakthrough in the digitization of the economy, although he noted that current payment methods are "too slow and too expensive."
Users do not need a bank account to access or use the digital currency, as the bank states that its main objectives are "efficiency of the payments system, financial inclusion of populations with or without a bank account, and increased resilience and competitiveness in the ECCU."
The price of Bitcoin is still trending down below the $50,300 price area and below the 100 EMA (H1).
The Bitcoin price in past sessions failed to follow through with its positive advances upwards from the $50,850 price area, and failed to break out above the Ichimoku Cloud for the positive developments continuities; where it returned with its negative corrections downwards from the $50,500 and $49,500 price areas.
Now at the time of writing, the Bitcoin price remains in the $49,220 price area.
The Bitcoin price needs to hold above the U$48,800 price area to make a bigger bottom than before in the U$48,530 price area, and with that return the attempts of the positive advances upwards to the U$50,000 and U$50,500 price area.
The price of Bitcoin could still move towards the Ichimoku Cloud and follow it underneath until it reaches the thinner part of the Ichimoku Cloud for the positive advancement attempts above it.
If the Bitcoin price breaks through the bottom of $48,850, negative corrections will go below the price areas of $48,500 and $47,780.
Only above the EMA 100 (H1) and with the consolidations needed for the Bitcoin price to head above the U$51,000 and U$52,000 price area and thus making higher tops than its previous ones, i.e.; above U$50,800 and U$51,900.
A close of the Journal was made above the price area of $50,450.
For today, a close above the $50,000 price area would be important.
Buyers have failed to take the Bitcoin price above the 100 EMA (H1).
Now with sellers in control of the situation, buyers will have to keep the Bitcoin price as close to the Ichimoku Cloud as possible for attempts to get back above it and try to get back in control of the situation above the EMA 100 (H1).
If the buyers fail to keep the Bitcoin price above $48,780, the sellers will gain more strength and follow the Bitcoin price below the $48,000 and $47,500 price areas.
Only above the Ichimoku Clouds for buyers to begin to regain control of the situation.
Major Resistance areas - $50,000, $50,500 and $50,880.
Major Support areas - $49,080, $48,850 and $48,120.
H4 chart :
The price of Bitcoin follows below the EMAs, but follows inside the Red Cloud of Ichimoku, right at the formed peak. A downward spike already shown in my previous analysis.
The price of Bitcoin would need to break out above the Ichimoku Cloud to return with its positive developments above the Ichimoku Cloud and above $50,500.
But Bitcoin's price looks like it will break out below the Ichimoku Cloud, where it may follow it downwards; if it does not break through the BB Bottom Line where it may follow with the continuities of the negative corrections down to below the $48,000 and $47,500.
Only the return of positive evolutions above the Ichimoku Cloud or even above the EMA 20, for the Bitcoin price to leave a risk area with the continuity of negative corrections below the Ichimoku Cloud.
Follow the sellers trying to follow the Bitcoin price below the Ichimoku Cloud, which would result below $48,800.
These Spikes in the Ichimoku Cloud marked with arrows, signify the negative corrections to come, even though the Bitcoin price is above or below the Ichimoku Cloud.
The chart on H4 will follow the whole week to have a parameter of the Bitcoin Price Evolution. Only some adjustments will be made.
Resistances: U$ 49.681 // U$ 50.781 // U$ 51.756 // U$ 52.898.
Supports: U$ 48,788 // U$ 47,667 // U$ 46,629 // U$ 45,342.
H1 chart :
Bitcoin price follows below the EMAs and below the Ichimoku Cloud.
The Bitcoin price follows below the Ichimoku Cloud and could still follow it closely until it finds the thinner part of the Ichimoku Cloud for a passage to rise above it and with that follow the positive developments above the EMA 100.
If the Bitcoin price returns with the attempts of the breakout of $49,000, which will be the 3rd attempt and succeed in breaking the LTA, the negative corrections will go in search of the bottom formed in the price area of $48,850 where the breakout of the same will take the Bitcoin price below the $48,120 and $47,780.
Only with the continuities very close to the Ichimoku Cloud for the Bitcoin price to continue with its positive evolutions where attempts to break out above it may happen, otherwise the possibilities of the continuities of the negative corrections will go below the U$ 48,000 and U$ 47,000.
Resistances: U$ 49,461 // U$ 49,970 // U$ 50,341 // U$ 50,730.
Supports: U$48,877 // U$48,515 // U$48,024 // U$47,570.
Dominance: 41.02 %
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