A negative weekend for Bitcoin: BTC, Ethereum and Cosmos Price Analyses
A negative weekend for Bitcoin: BTC, Ethereum and Cosmos Price Analyses
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A negative weekend for Bitcoin: BTC, Ethereum and Cosmos Price Analyses

By R.L. Bryer - 25 Oct 2021

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Bitcoin price analysis

Bitcoin’s price action over the weekend wasn’t beautiful but still managed to engulf on the day’s last 4 hour candle to finish with an indecision candle on the weekly time frame.

Despite negative price action for the majority of the weekend, bitcoin managed to finish at it’s second highest level ever on the weekly time frame. 

The BTC / USD 1W chart below from emadafsharfard shows BTC still above the middle of its range despite the price decline over the last 3 days. If BTC were to hit the top of the range again on the next wave up, the target price is $120k BTC.

If this scenario plays out the chartist has the next major retrace back to the $50k level in the next bear market [potentially in late 2022 or early 2023].

Bitcoin's price
Bitcoin could hit $150k

Bitcoin’s RSI on the weekly time frame is also tallying over 65, at the time of writing and may be poised for even more upside.

BTC’s 24 hour price range is $59,672-$61,725 and its 7 day price range is $59,672-$67,118. Bitcoin’s 52 week price range is $12,863-$67,276.

Bitcoin’s price on this date last year was $13,021. 

The average bitcoin price for the last 30 days is $54,280. 

Bitcoin closed Sunday’s daily / weekly candle worth $60,847. BTC’s daily candle closed [-0.74%] and its weekly candle closed with an indecision candle [-0.47%]. 

Ethereum Analysis 

Ether’s price held steady into Sunday after it bullishly engulfed the daily time frame on Saturday. 

Ether’s price is giving market participants powerful confirmation that further upside may be imminent with a close above $4k on the weekly time frame. 

The 1W ETH / USD chart below from davidrainone47 posits that much higher prices for Ether could be forthcoming if the macro climate allows. 

These fib extension levels will take Ether to the 5 figure level for bullish traders: 

Target 1 is the 1.618 fib extension level at [$6,023.67]

Target 2 is the 2.618 fib extension level at [$8,690.89]

Target 3 is the 3.618 fib extension level at [$11,358.12]

Bitcoin's price
Fibonacci levels on Ethereum price

If bears want to crush bullish hopes of a 5 figure Ether price anytime soon, they’ll need to push ETH’s price below $4k and then $3,5k with a close below that level on a significant time frame.

Ether’s 24 hour price range is $3,974-$4,189 and its 7 day price range is $3,719-$4,361. ETH’s 52 week price range is $380.83-$4,361. 

ETH’s price on this date last year was $393.38. 

The average Ether price for the last 30 days is $3,561.66. 

The daily / weekly candle close for Ether on Sunday was $4,083.18. ETH closed the daily timescale [-2.05%] and the weekly timescale [-2.1]%. 

Atom Analysis 

The price of Cosmos has marked-up 563.17% over the last 12 months and traders are wondering if there’s further upside yet to be realized in Q4 of this year.

The ATOM / USD 1W Chart below from brian7683 shows ATOM’s been consolidating since around the close of the first week of September [September 6th]. 

ATOM’s price continues to respect this level as support resistance and the asset’s price is currently trading near the middle of its price range.

Bitcoin's price
ATOM is consolidating its price

ATOM’s 24 hour price range is $33.66-$36.06 and its 7 day price range is $31.39-$36.88. 

ATOM’s price on this date last year was $5.14. 

The average Cosmos price for the last 30 days is $35.2. 

ATOM closed Sunday’s daily and weekly worth $34.26. Cosmos closed the daily timeframe [-4.03%] and in red figures while its weekly candle closed [-4.15%].

R.L. Bryer

Since 2009, the onset of the bitcoin network, R.L. Bryer has been covering the space. He is the author of Blockchain: Project Renaissance Volume I and II. He's also been the guest of countless bitcoin and cryptocurrency related podcasts throughout the world. Every opportunity, he speaks on or writes about Austrian Economics and how bitcoin is the world's preeminent money.

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