Bitcoin’s price again edged closer to the top of its current range on Tuesday and closed its daily session +$207.
Today we’re looking at the BTC/USD 1W chart below from industradingstore. Bitcoin’s price is currently trading near the top of its current range between the 0 fib level [$32,946.76] and the 0.236 fib level [$41,471.67].
Bullish BTC traders are seeking to break the 0.236 and crack the next overhead resistance at 0.382 [$46,713.7] with a secondary target of 0.5 [$51,008.0].
From the perspective of bearish BTC traders, they’re aiming at a reversal before or at the 0.236 fib level before attempting to send BTC’s price back down to retest a full retracement at the $32k level. If they succeed, bears will then have a great opportunity to push BTC’s price back down to the $20k level for the first time since December 2020.
Bitcoin’s Moving Averages: 20-Day [$40,396.82], 50-Day [$46,526.53], 100-Day [$51,268.37], 200-Day [$46,407.48], Year to Date [$40,919.44].
The Fear and Greed Index is 28 Fear and +2 from Tuesday’s reading of 26 Fear.
BTC’s 24 hour price range is $38,195-$39,137 and its 7 day price range is $35,622-$39,137. Bitcoin’s 52 week price range is $29,341-$69,044.
The price of bitcoin on this date last year was $35,485.
The average price of BTC for the last 30 days is $41,032.
Bitcoin’s price [+0.54%] closed its daily candle worth $38,733 and in green digits for the fifth time over the last six days.
Ether’s price closed its daily candle in green figures for the fifth straight day and +$100.25.
We’re also looking at the ETH/USD 1W chart below WhiteCollarDad today. ETH’s 1W chart bullishly engulfed on Sunday and could be setting up for higher prices if arguably the most important coinciding variable, the macro, enables it to run.
Ether’s bullish market participants are currently eyeing the 0.618 fib level [$2,992.93] with a secondary target of 0.786 [$3,820.51] on the weekly time frame.
Bearish Ether market participants on the other hand are seeking to deny the current bullish impulse of any further momentum and reverse course back down to retest 0.5 [$2,421.91]. If bears succeed in that aim, they’ll move to their secondary target of 0.382 [$1,850.9] and a third target of 0.236 [$1,144.4].
Ether’s Moving Averages: 20-Day [$2,963.38], 50-Day [$3,640.91], 100-Day [$3,746.58], 200-Day [$3,257.14], Year to Date [$3,037.33].
ETH’s 24 hour price range is $2,683-$2,806 and its 7 day price range is $2,353-$2,806. Ether’s 52 week price range is $1,353-$4,878.
Ether’s price on this date in 2021 was $1,514.
The average price of ETH for the last 30 days is $3,044.
Ether’s price [+3.73%] closed its daily candle worth $2,786.21 on Tuesday.
Algorand’s price also climbed incrementally higher on Tuesday and closed its daily candle +$.016.
The ALGO/USD 1D chart below from JT_22 shows the most critical levels for ALGO traders currently. Bullish ALGO traders are trying to rally back off of the 23.60% fib level [$0.95] and once again confirm that level as support. Their secondary target is 38.20% [$1.12] with a third target of 50.00% [$1.26.].
Conversely, bearish ALGO market participants are aiming for lower prices and to again flip the 23.60% fib from support to resistance for bulls. If they succeed again at cracking the $0.95 level their next target is a full retracement.
Algorand’s Moving Averages: 20-Day [$1.21], 50-Day [$1.45], 100-Day [$1.64], 200-Day [$1.35], Year to Date [$1.26].
Algorand’s 24 hour price range is $0.948-$0.991 and its 7 day price range is $0.879-$1.00. ALGO’s 52 week price range is $0.639-$3.56.
Algorand’s price on this date last year was $0.651.
The average price for ALGO over the last 30 days is $1.26.
Algorand’s price [+1.71%] closed its daily candle worth $0.965 and in green figures for the seventh day out of the last eight days.