Bitcoin Price Analysis 2021: Must See This

Bitcoin Price Analysis 2021

In today's analysis, we're going to be getting into the Bitcoin charts going through the lower time frames at the high time frames, taking a look at our critical regions on the charts, our momentum oscillators to gauge some direction behind the price action. 

Bitcoin Price Analysis 2021

Of course, as always going to be going through the chain link and Ethereum charts as well make sure you comment down below which old coins you want me to take a look at in the next article here, as we do have a new month coming up. I will take a look at some setups and some charts with you all in. Tomorrow's or the next day's article, depending on how many requests we do get so make sure to do that, and without any further ado, let's get right into it here now. Of course, we do have some very beautiful weekend trading going on. We did have a nice rise to the upside and, of course, as we did start to break the weekly pivot, that was very likely that we're going to make another push-up, at least to attempt the higher resistance points.

Now very clearly, on the charts we had. Our major resistance point from the 26th of august. Those are the highs to definitely be aware of, as they are going to be the last lower high that was set in, let's say on a four-hour time frame, even on this hourly time frame. We just set in a lower high there, but the four-hour is just much more clear here, as we do have had low highs since the 23rd of August 2021. Now we did a week past that area, so a confirmed swing, failure, pattern here and overall, the cme charts.

Actually closed exactly at forty-eight thousand four hundred and fifty-five dollars - and that was very you know that was basically expected by everyone in the community, as of course, we did have the max Payne scenario to be closed above 48, 000 and below 50 000. For most of those contracts that were expiring and just before the closure, just before the weekly closure here, which did close exactly once again at the 48 455 dollar region, we guys. We know that what happened so you guys saw that we did make a move up here. Basically, just before the closure the weekly closure, we made a move up above 48 000 and close back below 50 000 

Now, before we get on this off the cme charts, I want to quickly say that we do have lower highs coming into this week. So it's going to be very important for these cme charts to open bullishly here and for us to regain and break this market structure that we have as we do have lower highs from the 23rd of August 2021.

We did slightly take it out on the spot price action, but that was you, know no closures above that region. So simply, like, I said, a swing failure pattern. So it's going to be very important to watch the opening of this week to be able to change this market structure on a four-hour time frame because as it stands, we do still have lower lows and lower highs and upon reclaiming that market structure, then that's Going to be very good, of course, we did pick up long positions on the way to the upside here. That goes without saying, as we did see, you know. Momentum coming in I'll go through some of those positions here very soon, but I want to give a quick shout out to um to jack here in our community.

He made an absolutely fantastic call this morning saying that basically looking for this afternoon, actually at 106 p.m. I don't really trade, the weekends but basically saying that the weekly pivot and the golden pocket would be a nice way to end the weekend. Bounce there ready to be back for CME to be open around 48 700, and I absolutely love that, because of the fact that, of course, with the CME closure being 48 455. As we just looked at, we can expect price action always to close around the same region.

You know the CME charts so for the spot price action. We expect the same closures. Of course, not always that is the wrong word to use. Sometimes we will create a CME gap, but typically, even if we are above that, the closing price will make another shift back to close around that same region and so we're basically exactly at that region. Now, at 48 510, where was his target?

It was golden. It was the golden pocket and the weekly pivot. We have gotten a perfect bounce from the weekly pivot right now off about 1.8 percent and we made a move down for a few percentages to that region to the weekly pivot as well, and the golden pocket in question here is the 26th of august up To the highs that we made on the 29th and that would be right below the weekly pivot, so we like to see confluence and with that confluence comes a nice bounce, at least thus far. So it's going to be very important for the bulls to be able to maintain above the weekly pivot any drives with a volume below the weekly pivot.

When the week does open. That'S when I'm going to start to look at this more bearishly, you know so closures, especially back below the weekly pivot. Here, that's going to be very, very important to be watching now, where is the weekly pivot? It is exactly at 47, 690, basically exactly where we have bounced at the current moment in time and my bias for right now is to set it very simple for you, as we usually look for the price to close around the same area since it is Sunday. I would just expect ranging price action here until we see more volume come in for the cme charts on our Monday morning, close on our Monday morning open for the new weekly open.

That'S what I would be looking at so now. We want to shift this up to the one day here and start to look at some of our oscillators, so we know that the one-day stochastic is still coming down. That'S come with cell pressure from the price action, but we did bounce from our key support region, which was first, the monthly r2 that was around forty-five thousand. Eight hundred sixty-five price got to forty-six thousand two hundred fifty-seven. So in large ranges, that's about you know, let's call it even 400 off.

That'S pretty damn close to me and, of course, we had this as confluence. We had the golden pocket as confluence and the 0.702 a little bit lower than that would have been really nice, but we didn't spike down that. We just spiked down to the 0.618 and the 0.65, and seeing that reaction, the bullish reaction on the lower timeframes constituted a nice trade.

So now that would be the region to actually hold especially coming into next week for the Bitcoin charts because that is going to be the last swing low set in and that is going to be the last higher low set in. So we did have that. Come in with bullish divergences as well on the one day, time frame, we've actually broken our one day, structure on the rsi to the downside, but we are currently still ranging this isn't a right read still, however, we did have those bearish divergences, but what is important Here is the market structure we are currently setting in higher lows on the charts, as you can very clearly see, and these higher lows have come in every single time with higher highs being set in as well. So that gives us a bullish market structure with higher highs and higher lows. Now we have not created a higher high just yet.

So that's why, coming into next week, which September we have looked at you know, previous years, in this article, where it is typically a bearish month. I would like to see for the bills to get a continuation. You know coming into early next week and not to be creating a lower low pass, this last low, a higher low that we have created, because that would be starting to break structure and especially with breaks back below 45 865 dollars. That is not something I want to see, because that would be breaking the monthly r2 I'll be targeting moves down to you know, 12th of august lows, and so that's going to be extremely important for me now. Let'S say we do create a high height.

We still have that key resistance, which was a target for us for a very long time, even from you know, bouncing from the monthly pivot. We know the r3 is not going to break on the first go and that's where we saw the massive rejection come in. This was a major target for us at fifty thousand nine hundred two dollars. The price actually got to fifty thousand five hundred and sixty-four. So about you know four hundred dollars: let's call it off once again, just under that's an eight percent rejection.

So where would we need to get above? It'S going to be that monthly r3 we're going to have new pivots to work with next month, but I like the confluence. The reason I was so big on this level was that we of course had a bearish order block here as well. If we take a look at that one day, we have a big bearish water block, which we are sitting in right now and really reclaiming. This is also going to be reclaiming the golden pocket from the all-time highs.

It is slightly above that, but the 0.618 and the 0.65, and then we're really going to have a reversal in trend. That'S when I'm going to get much more confident in this as well. We, of course, have a reversal on the one day.

We already have a bullish market structure on the one day, but we know that the weekly is kind of still in limbo, So that is what would need to be met for the weekly and right now with the bearish water block. We are simply back at the eq of the order block at the current moment in time and so getting back below and getting back above. That is going to start to look much more bullish, so they are the things to be watching for this month. I am not interested in picking any.

You know high-risk trades at all. I want to see volume come in tomorrow. I want to see it. You know clear trades for me to get into because that's going to keep me safe with the market. We know what happened last.

You know. Last year, back Bitcoin in September 2021, we did have a nice rise coming into the end of the month. We in fact had a rise, a few thousand dollars rises here and that was going to be a total of eight percent, eight-point, six percent rise and then, on the first of September, we started to dip to the downside quite aggressively, and that was an 18 Move to the downside doesn't mean that it's gonna happen every single year, but typically September, especially for the legacy markets are going to be a repositioning month. And so it's going to be when those large traders like to reposition and like to close some positions as well. So, basically, looking at the previous month before that at the start of September, we did have a nice rise.

You know from the 30th of august, we started to bounce up, and that was a reversal of about 17. We set in another lower high and that took us down once again about 30 percent coming from September 6th all the way down. So it's definitely going to be a month that I want to be a little bit careful about. We know that we have moved up quite aggressively from the lows off this month. That is about a 74 rise, and so I want to pick only the best trades.

Of course, the trend is still to the upside we've spoken about when the trend would really start to break here on the one day, time frame, and what we need to look for that to actually break and for us to start to get a little bit more aggressive on the shorter side, I think, based on the macro here on the monthly as we spoke about you know, this is this: is a pretty good closure once again that we're about to get on the monthly. This is going to be a hammer, an indecision candle after our dip from all-time highs, followed with a hammer candle followed with another hammer candle at the moment. 

So I don't have a problem with the monthly, but we can have a short-term downside just like we have seen time and time again remember last year when we dipped to 12 000 from 12 500, the example. I showed you guys first that did come with a macro. So, basically, looking at this right here, we just set in another higher low on the macro, even on the one day, time frame and continued our bullish trend to the upside, so dips, the downside for the macro doesn't mean much.

They don't mean we're going to be completely reversing, but they bring up opportunity guys. So that's what I'm currently looking at on the high time frames, definitely an interesting month going into it. We know our weekly stochastic is still to the upside. That is going to be working its way into the bullish control territory very soon, potentially here just at the bullish control territory. So we really don't want to be seeing a rejection here at a high timeframe, resistance on the stochastic as well.

It'S going to be very important for the stochastic to actually move into the bullish control territory, so we can get this next spike to the upside, and then at that point, I would be targeting the all-time highs from there, especially with closures back above these regions as well, so I do very much like that. Also, i want to see the weekly rsi also hold above the 50 regions here, and I think that's really about it. For Bitcoin and we can go through our trades very quickly here so going through the trading opportunities that we've had, is the long position that I spoke about. So this was a scalp at forty-six thousand eight hundred and sixteen dollars closing at forty, eight thousand four hundred and two dollars about a forty 47 gain right there.

That is I'm very happy with that. So 46 800. Where was that is going to be nearly at these exact lows here, so once we started to see some momentum come in and we started to see you know basically some divergences building in this region? We were basically right in that golden pocket and getting accumulated nicely a lot of short positions coming in, but still, that accumulation going on and we did end up rising about six percent from there. So very happy with that.

Now, just trading out the range and waiting for that volume to come in in the month of September to make even further decisions on this price action so link USD coming in at around. I haven't taken a look at this. This is going to be a fresh look for me. Give me a moment here: um, so link USD did get a bounce from the s2 here overall still in that range we've spoken about, I believe we spoke about a sideways range and also an upsloping one, and we said that we of course liked the sideways Ranges more or maybe that was for Ethereum, but either way this is going to be a nice range. You have your lows, I believe we did actually speak about this.

So the 13th of august um. We did get a nice bounce, the highs yeah. We definitely did the 16th of august. We know that's, that's our at our critical resistance, which we saw a big rejection from, but ultimately we came back to the bottom of the channel when the channel is not broken. We look to trade.

The range until it is broken. We'Ve already got a 10 bounce from there. Where do we come down to up to? We came back to the key resistance, which is the v up here inside the range from the all-time highs, so playing out of this range closures back below the s2 at 23.73 is when I would target down to the s3. As I said in the previous, article closes back above, the r3 is when I would start to look for ultimate moves up to 35. 

77, anything within the range looks to trade, the range until broken Ethereum USD here. Let'S go and take a look at the four hours on this, so we can see and you move back down to the weekly pivot, exactly like Bitcoin. Where do we reject from over the weekend from our horizontal? That was a 3. rejection? This is the top of the range that we've spoken about the top of the biggest zone of resistance. Where is price action been the trend? trading in within you know really the past 22 days. It'S been sitting right at our resistance because there's a big resistance.

These things take a long time to play out right to, fully to fully break out or break down. So we can be looking at this as accumulation as I've said at a high level, at least thus far, because of the fact that we do have our one-day structure still holding so on the dip to the downside for the Ethereum charts just like Bitcoin. We just set in another higher low. It is only when we start to break back below these lows where I would start to get worried with this price action or not worried but look to be more aggressive on the short side. And that is going to be exactly at 3050 dollars, so especially closures back below this region on a one-day time frame.

That's when I get more bearish on the price action as long as we are trading above there. I look at this as reaccumulation at a high level because we are actually you know we are setting in high lows so once the trend breaks, then I look to say: okay, this is looking a little bit worse and we look to take the short side. You could be taking the short side inside the range as well. Like I showed you. The price action came straight to our resistance point here.

You know stops above the r1. Potentially it's just an easy trade to be managing. I believe we would have come to the golden pocket here as well. would have been pretty damn close here yep, so the golden pocket hitting there the 0.702 two times basically going up there, that's going to make for some good short positions, now flipping those back into potentially long positions.

If you are trading at a very low time frame since we are on the weekly pivot, i hope that you've enjoyed today's article. I usually have not been making article at least recently on the weekends, but i want to get this out for you guys, because i know a lot of you are waiting for an update and so I wanted to get that out as soon as possible. I hope you've enjoyed it. I hope that you have gotten something out of the Bitcoin price.

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