Bitcoin Analysis
Bitcoin’s price printed a fifth straight daily candle in negative figures on Monday and when the day’s session concluded, BTC’s price was -$217.
The BTC/USD 4HR chart below from rovamad is where we begin Tuesday’s price analyses. BTC’s price is trading between the 2 fibonacci level [$15,554.91] and 1 fib level [$18,522.40], at the time of writing.
Bullish BTC market participants really need a shot of life right now in the short-term and the 4HR timescale was suggesting that a breakout and retest of the $18k level was potentially about to unfold. We haven’t seen that rally yet however and bulls need to retest the 1 fib soon or risk a trip down to test the bottom of the 4HR channel at the 2.618 fib level [$13,721.00].
The overhead targets for bullish BTC traders are the 1 fib and 0 fibonacci level [$21,489.88].
Bearish traders contrariwise have their sights on the 2 fib level and then the 2.618 fibonacci level.
The Fear and Greed Index is 26 Fear and is -2 from Monday’s reading of 28 Fear.
Bitcoin’s Moving Averages: 5-Day [$16,368.75], 20-Day [$17,616.77], 50-Day [$18,722.78], 100-Day [$20,251.68], 200-Day [$27,159.84], Year to Date [$29,296.39].
BTC’s 24 hour price range is $16,002-$16,487 and its 7 day price range is $15,700.60-$16,753.63. Bitcoin’s 52 week price range is $15,501-$59,174.
The price of Bitcoin on this date last year was $57,845.
The average price of BTC for the last 30 days is $18,099.2.
Bitcoin’s price [-1.32%] closed its daily candle worth $16,215 on Monday.
Ethereum Analysis
Ether’s price also traded lower at its session’s close on Monday than at the open of the day and when Monday’s candle was printed, ETH’s price was -$25.64.
The ETH/USD 1HR chart by @BalanceOt is the second chart on today’s docket. At the time of writing, ETH’s price is trading between the 23.60% fib level [$1,170.00] and 38.20% [$1,182.11].
The targets to the upside on Ether’s 1HR chart are 38.20%, 50.00% [$1,191.90], 61.80% [$1,201.69], and 100.00% [$1,233.38].
Conversely, those still shorting ETH’s price have a primary aim of the 23.60% fibonacci level followed by a full retrace at 0.00% [$1,150.42].
ETH/USD 1HR chart: the price is trading between the 23.60% fib level [$1,170.00] and 38.20% [$1,182.11]
Ether’s Moving Averages: 5-Day [$1,172.77], 20-Day [$1,296.70], 50-Day [$1,333.05], 100-Day [$1,468.76], 200-Day [$1,890.95], Year to Date [$2,060.34].
ETH’s 24 hour price range is $1,151.02-$1,199.25 and its 7 day price range is $1,082.89-$1,222.44. Ether’s 52 week price range is $883.62-$4,778.
The price of ETH on this date in 2021 was $4,442.82.
The average price of ETH for the last 30 days is $1,336.16.
Ether’s price [-2.15%] closed its daily session on Monday valued at $1,167.71.
XRP Analysis
XRP’s price has finished in green figures for 6 of the last 8 days but on Monday XRP’s price finished in negative digits and -$0.00685.
The XRP/USD 1D chart from ObiWiannKenobi is the final chart for analysis this Tuesday. With recent news out of Russia that Vladimir Putin’s interested in blockchain technology and a settlement system outside the control of states and banks, many are looking closely at XRP’s price action.
XRP’s price is currently trading on the daily timescale within a Rising Wedge pattern. Bullish XRP market participants need to eclipse the $0.47 level to break out to the upside of the chart.
Bearish XRP traders are seeking to reject bullish traders at the heartline of the current pattern and secure another breakdown to the downside at the $0.34 level.
Ripple’s 24 hour price range is $0.372-$0.399 and its 7 day price range is $0.355-$0.418. XRP’s 52 week price range is $0.287-$1.02.
Ripple’s price on this date last year was $0.989.
The average price of XRP over the last 30 days is $0.411 and its -15.69% over the same duration.
Ripple’s price [-1.73%] closed its daily candle on Monday worth $0.389.
