Bitcoin update 21/09/2021
Updated
21/09/2021
Currently trading on 42 700 USD.
After Sunday - Monday crash bitcoin falled from 48 800 USD to 40 000 USD.
Many traders were liquidated.
Reasons for crash
1) Volume in market is very low.
2) China FUD - Evergrande company has some problems and all stocks falled down.
3) Stocks are on the tops and market is very tricky.
4) In market are many speculants and gamblers with high leverage positions and without any experince.
Next scenario for BTC
1) sideways range between 42 - 48k till the break of orange trendline and road to new ATH. Target is around 100-120K USD. Green scenario
- Important points - Daily close not below 38k (with body), Weekly candle not below EMA21
2) Distribution between 35 - 40k and then break down.
- daily close below 38k
Presonaly I am still bullish, bcs support on 40k is very strong and it is more easier to go up from this support then go down trough this support.
Market cap USDT after every correction grows. It means money still stay in cryptomarket and are ready for buy.
Currently trading on 42 700 USD.
After Sunday - Monday crash bitcoin falled from 48 800 USD to 40 000 USD.
Many traders were liquidated.
Reasons for crash
1) Volume in market is very low.
2) China FUD - Evergrande company has some problems and all stocks falled down.
3) Stocks are on the tops and market is very tricky.
4) In market are many speculants and gamblers with high leverage positions and without any experince.
Next scenario for BTC
1) sideways range between 42 - 48k till the break of orange trendline and road to new ATH. Target is around 100-120K USD. Green scenario
- Important points - Daily close not below 38k (with body), Weekly candle not below EMA21
2) Distribution between 35 - 40k and then break down.
- daily close below 38k
Presonaly I am still bullish, bcs support on 40k is very strong and it is more easier to go up from this support then go down trough this support.
Market cap USDT after every correction grows. It means money still stay in cryptomarket and are ready for buy.
Trade active
This is not good time to opening shorts, bcs bitcoin had nice reaction on support 40k. I am expecting some small pullback today to 44k.
Trade active
Bitcoin had nice bounce.Currently trading around 44k.
Possible targer for long is 45 500 USD. In this zone is big resistance and main trendline. After break this resistance and the trendline, bitcoin will have open space to next uptrend.
Note
Weekly close 26/09/2021This weekly close was very important. Candle closed on EMA21 and is trading above this moving avearage currently.
Resistance - 47 - 49 000USD
Supports - 43 - 40 000USD
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