Bitcoin ($43k), Ethereum ($3.3k), Chainlink Price Analyses
Bitcoin ($43k), Ethereum ($3.3k), Chainlink Price Analyses
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Bitcoin ($43k), Ethereum ($3.3k), Chainlink Price Analyses

By R.L. Bryer - 17 Jan 2022

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Bitcoin Analysis 

Bitcoin’s price traded sideways for the bulk of Sunday’s daily candle and closed its daily session +$15.  

The BTC/USD 4HR chart below from Ironman8848 shows the levels that BTC traders are watching closely in the short term. 

Overhead bullish BTC traders are trying to crack the 38.20% fib level [$44,349] with a secondary target of the 50.00% fib level [$45,828.8]. If bullish traders can send bitcoin above the $45k level and break the 50.00% fib level then the third target above is 61.80% [$47,308.47].

Bearish bitcoin traders have other intentions and are trying to once again send BTC’s price back down to test a major level of inflection at $40k. If bullish BTC traders are able to break the $40k level then the next stop is a full retracement at 0.00% [$39,559.].

Bitcoin Analysis 
BTC levels that traders are watching closely in the short term

The Fear and Greed Index is 22 Extreme Fear and +1 from yesterday’s reading of 21 Extreme Fear. 

fear & greed
The Fear and Greed Index is in Extreme Fear zone

Bitcoin Moving Averages: 20-Day [$46,076.05], 50-Day [$52,052.57], 100-Day [$52,336.62], 200-Day [$47,528.12], Year to Date [$43,524.55].

BTC’s 24 hour price range is $42,739-$43,570 and its 7 day price range is $40,683-$44,142. Bitcoin’s 52 week price range is $28,991-$69,044. 

The price of bitcoin on this date last year was $35,804. 

The average price of BTC for the last 30 days is $44,859. 

Bitcoin’s price [+0.03%] closed its daily candle worth $43,084 and in green figures again after closing in red figures for Saturday’s daily session. 

Ethereum Analysis 

Ether’s price finished its daily candle on Sunday +$18.39 and in green digits for a third straight daily candle close. 

Today we’re looking at the ETH/USD 1D chart below from God-of-crypto. Ether bulls showed some promise this week and are trying to again break the 0.382 fib level [$3,334.95] with a secondary target of 0.5 [$3,839.99]. The 0.618 fib level [$4,345.03] is the third overhead target for bullish Ether market participants. 

Bearish ETH traders are hoping to again deny a breakout above the 0.382 and send ETH’s price back down to test the bottom of its current range at the 0.236 [$2,710.08].

Ethereum Analysis 
ETH’s level for bullish and bearish traders

Ether’s Moving Averages: 20-Day [$3,659.33], 50-Day [$4,052.23], 100-Day [$3,842.41], 200-Day [$3,235.58], Year to Date [$3,403.34].

ETH’s 24 hour price range is $3,298-$3,386 and its 7 day price range is $3,011-$3,395. Ether’s 52 week price range is $1,110-$4,878. 

The price of ETH on this date in 2020 was $1,129.

The average price of ETH for the last 30 days is $3,645. 

Ether’s price [+0.55%] closed its daily candle on Sunday worth $3,346.

Chainlink Analysis

The third project we’re examining today is Chainlink. Chainlink’s price is again trading above the 20 Day and 50 Day Moving Averages and finished Sunday’s daily session +$.32. 

LINK’s been one of the strongest performers in all of crypto over the last month and began a new uptrend after consolidation in the high teens late last year. 

The LINK/USD 1D chart below from Brother-Doug shows strong support for bullish LINK traders at the 0.236 fib level [$24.60]. Above that level is local overhead resistance at $28 and then the 0.382 fib level [$30.09]. If bullish LINK traders break the 0.382 the next stop above is 0.5 [$34.52].

Bearish LINK market participants are conversely trying to snap the strong support bulls have recently enjoyed at the $24 level and then send LINK back down to test the high teens again.

Chainlink Analysis
LINK’s strong support level

Chainlink’s Moving Averages: 20-Day [$22.99], 50-Day [$24.55], 100-Day [$26.09], 200-Day [$26.86], Year to Date [$25.40].

LINK’s +40.88% for the last 30 days against The U.S. Dollar, +51.64% against BTC, and +62.9% against ETH, at the time of writing.

LINK’s 24 hour price range is $24.92-$26.28 and its 7 day price range is $24.16-$28.48. Chainlink’s 52 week price range is $13.43-$52.7. 

LINK’s price on this date last year was $23.30.

The average price for LINK over the last 30 days is $22.91. 

Chainklink’s price [+1.27%] closed its daily session on Sunday worth $25.50 and has been alternating between green and red daily candle closes for the last seven days.

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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