Bitcoin’s price closed Tuesday’s daily candle -$3,130, and bullish BTC traders lost important support at the 0.618 fib level [$48,841].
The BTC/USD 1HR chart below from MelvinGst shows the integral levels for BTC market participants in the interim.
Bullish BTC traders hope to regain the 0.618 fib level [$48,841] and again conquer the 0.5 fib level [$49,856].
From the bearish perspective, bearish traders want to hold BTC’s price below the 0.618 fib level and send it back down to test the 0.786 fib level [$47,365].
The Fear & Greed Index is 27 Fear and -14 from Tuesday’s reading of 41 Fear.
Bitcoin’s price is trading below all of its important moving averages minus its cumulative Year to Date MA. BTC’s most important moving averages: 20-Day [$49,991.89], 50-Day [$56,652.30], 100-Day [$52,696.21], 200-Day [$48,356.66], Year to Date [$47,408.90].
BTC’s 24-hour price range is $47,388-$51,328 and its 7-day price range is $47,388-$51,956. Bitcoin’s 52-week price range is $25,923-$69,044.
The price of bitcoin on this date last year was $28,837.
The average price of BTC for the last 30 days is $50,375.
Bitcoin [-6.18%] closed its daily candle worth $47,554 and has closed in red digits for back-to-back daily candle closes.
Ether’s price followed BTC and the macro market down Tuesday, and ETH finished Tuesday’s daily candle -$243.07.
The ETH/USD 4HR chart below jaysenxavero shows that Ether’s price has broken out to the downside of an ascending triangle pattern, and bullish traders will now look to support at the 1.618 fib level [$3,734.29].
If bullish Ether traders fail to hold the 1.618 level as support, they’ll next look to the 1.786 fib level [$3,690.45].
The chart appears to show a double-top on ETH’s price at $4,156.56, which is a full fib retracement from ETH’s breakout.
ETH’s 24-hour price range is $3,757-$4,090, and its 7-day price range is $3,757-$4,157. Ether’s 52-week price range is $713.72-$4,878.
Ether’s price is still trading above its 100 Day and 200 Day Moving Averages. 20-Day [$4,108.76], 50-Day [$4,261.96], 100-Day [$3,804.63], 200-Day [$3,134.03].
The price of ETH on this date in 2020 was $735.59.
The average price of ETH for the last 30 days is $4,122.8.
Ether [-6.02%] closed its daily candle on Tuesday worth $3,793.17 and in red figures for the third consecutive day.
Decentraland’s price sold off with the majority of the market on Tuesday and finished Tuesday’s daily candle -$0.41.
The MANA/USD 1D chart below from MelvinGst allows traders to visualize MANA’s potential upside and downside in the short term.
MANA bulls seek a return to the 1 fib level [$5.87]. They likely must hold the 0.5 fib level [$3.32] as support in the interim even if BTC’s price drags the macro market lower to resume further unimpeded price action to the upside.
If bullish MANA traders fail to hold the 0.5 fib level, the next stop is the 0.618 fib level [$2.70], which should be strong support for bullish traders.
MANA’s +3,980% for the last 12 months, +2,189% against BTC, and +678.9% against ETH over the same duration.
Decentraland’s 24-hour price range is $3.32-$3.87, and its 7-day price range is $3.26-$3.96. MANA’s 52-week price range is $.075-$5.85.
Decentraland’s price on this date last year was $0.08.
The average price for MANA over the last 30 days is $3.7.
Decentraland [-10.8%] closed its daily candle worth $3.33 and in red figures for a second straight day.