Bitcoin ($36k), Ethereum ($2.4k), Polkadot Price Analysis
Bitcoin ($36k), Ethereum ($2.4k), Polkadot Price Analysis
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Bitcoin ($36k), Ethereum ($2.4k), Polkadot Price Analysis

By R.L. Bryer - 25 Jan 2022

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Bitcoin Analysis 

Bitcoin’s price began to catch some bids during the day’s second 12-hour candle and closed its daily session +$394 after spending the first half of Monday with a lack of demand. 

The BTC/USD 1D chart below from 4db945942590450a93d1f66a8885ad shows BTC’s price trading in the middle of its range on the daily time frame. Bitcoin is currently trading in a roughly $7k range between the 0.5 fib level [$33,602.71] and overhead resistance at the 0.618 fib level [$40,798.04]. 

Bearish BTC traders were able to send BTC’s price down to test the 0.5 fib before BTC bulls stepped in and defended that fibonacci level with a strong bounce after touching $33,172 for a daily session low.

Bullish BTC traders are trying to crack the 0.618 and have a secondary target on the daily timescale of 0.786 [$51,042.23]. Conversely, bearish BTC traders are hoping to retest Monday’s lows and breach the 0.5 fib with a daily close before sending BTC’s price lower to the 0.382 fib level [$26,407.38].

Bitcoin Analysis 
Bitcoin is currently trading in a roughly $7k range

The Fear and Greed Index is 12 Extreme Fear and -1 from Monday’s reading of 13 Extreme Fear. 

Fear and Greed
The Fear and Greed Index is in the Extreme Fear zone

Bitcoin’s Moving Averages: 20-Day [$43,167.48], 50-Day [$49,021.60], 100-Day [$51,777.71], 200-Day [$46,890.95], Year to Date [$42,184.89].

BTC’s 24 hour price range is $33,172-$37-475 and its 7 day price range is $33,172-$43,308. Bitcoin’s 52 week price range is $29,341-$69,044. 

The price of bitcoin on this date last year was $32,375. 

The average price of BTC for the last 30 days is $43,764. 

Bitcoin’s price [+1.09%] closed its daily candle worth $36,702 and in green figures for a second straight day.

Ethereum Analysis 

Ether’s price didn’t catch the same number of bids on Monday as BTC’s price and closed its daily candle -$99.64. 

The ETH/USD 1D chart below from stikytrading paints a rather bleak picture for the current status of Ether’s price. ETH’s broken all major support levels above its current price on the 1D timescale and is basically in limbo between $1,800 and the 100.00% fib [$2,765.50].

Ethereum Analysis 
ETH has broken all major support levels above its current price

Ether’s Moving Averages: 20-Day [$3,323.99], 50-Day [$3,839.88], 100-Day [$3,795.89], 200-Day [$3,253.08], Year to Date [$3,220.04].

ETH’s 24 hour price range is $2,180-$2,551 and its 7 day price range is $2,180-$3,257. Ether’s 52 week price range is $1,238-$4,878. 

The price of ETH on this date in 2021 was $1,323.

The average price of ETH for the last 30 days is $3,372. 

Ether’s price [-3.92%] closed its daily candle on Monday worth $2,440.81 and ETH’s closed in red digits for seven of the last eight days. 

Polkadot Analysis

Polkadot’s price also didn’t see the increase in demand like BTC’s price did on Monday and closed -$.80. 

We’re looking today at the DOT/USD 1D chart and the most integral levels of focus for DOT traders. 

DOT’s price traded on Monday between the 78.60% fib level [$19.90] and the 88.60% fib level [$15.44]. Bulls are looking at overhead resistance at the 61.80% fib [$27.40] if they can get past the 78.60% fib.

Conversely, bearish DOT traders are attempting to again test daily sesion lows and send DOT’s price back down to the 88.60% fib with a clean break of that level and a secondary target of a 100.00% retracement at [$10.34].

Polkadot Analysis
The most integral levels of focus for DOT traders. 

Polkadot’s Moving Averages: 20-Day [$25.69], 50-Day [$29.86], 100-Day [$34.12], 200-Day [$29.05], Year to Date [$25.23].

Polkadot’s 24 hour price range is $15.98-$18.7 and its 7 day price range is $15.98-$25.91. DOT’s 52 week price range is $10.37-$54.98. 

Polkadot’s price on this date last year was $17.26.

The average price for DOT over the last 30 days is $25.94.

Polkadot’s price [-4.22%] closed its daily session on Monday valued at $18.02 and DOT’s also closed in red figures for seven of the last eight 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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