Bitcoin’s price action on Wednesday was a mixed bag until the afternoon session when BTC climbed back to the peak of this rally and closed the day +$1,414.
The Fear and Greed Index is 70 Greed and is equal to Wednesday’s reading.
The BTC 1W chart below from behbehani shows a major cup and handle potentially playing out before our eyes.
If this pattern does indeed play out and the structure fulfills its potential to the upside, six figure bitcoin could become a reality.
Conversely, if bears have their way and send BTC’s price back below $53k and then breach the $50k level, BTC may be confirming the end of its cycle.
The $57,8k level is a major area of inflection and bulls will want to confirm a close above this level sooner than later to carry on the momentum to the upside.
BTC’s 24 hour price range is $54,409-$57,872 and its 7 day price range is $53,701-$57,872. Bitcoin’s 52 week price range is $11,268-$64,804.
Bitcoin’s price on this date in 2020 was $11,426.
BTC’s 30 day average price is $48,426.
Wednesday’s daily candle close for bitcoin [+2.53%] was $57,381 and BTC’s completed the daily candle in green figures for 9 out of the last 11 days.
Ether’s price is trading in a super tight range now and completed its daily candle $+118.
The 1D ETH chart below from Fdz23 shows Ether finally breaking out on the daily timescale of a long term structure to the upside. On Wednesday, Ether backtested the $3,5k level as support resistance and could be setting its aim for $4,3k.
Ether bears on the other are trying to negate the work of Ether bulls and send the price back below $3,5k and eventually the $3k level. If bears have their way, it could be a trip back to the $2,7-$2,8k level over the coming weeks.
ETH’s 24 hour price range is $3,427-$3,616 and its 7 day price range is $3,426-$3,668. Ether’s 52 week price range is $365.41-$4,356.99.
Ether’s price on this date last year was $379.21.
The average ETH price for the last 30 days is $3,297.76.
Ether [+3.39%] closed Wednesday’s daily candle valued at $3,607 and in green figures. Ether’s been alternating green and red daily candle closes for the last week.
Avalanche’s price seems to have found support at the $50 level after decreasing in price 34.76% from its ATH on September 23rd to its trough this week of $51.74.
The 1D AVAX chart below by SorooshSchool illuminates the upside just to get back to the top of the trend for Avalanche.
AVAX bulls are hoping the bottom’s been confirmed and the price is ready to head to higher levels.
Avalanche bears are hoping that they can crack the $52 level to the downside and finally send the price back to the $39.50 level which is the next support resistance for bulls if they lose the $50 level.
AVAX’s 24 hour price range is $53.58-$56.83 and its 7 day price range is $51.74-$64.35. Avalanche’s 52 week price range is $2.82-$79.31.
AVAX’s price on this date last year was $4.15.
The average Avalanche price per unit for the last 30 days is $63.68.