Bitcoin, Ethereum, Theta Price Analyses
Bitcoin, Ethereum, Theta Price Analyses
Trading

Bitcoin, Ethereum, Theta Price Analyses

By R.L. Bryer - 17 Feb 2022

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Bitcoin Analysis 

Bitcoin’s price moved down over Wednesday’s daily session and BTC closed its daily candle -$674.9. 

The first chart we’re analyzing today is the BTC/USD 4HR chart below from Freedom_CN. Traders will note that BTC’s price is currently trading in between the 0.236 fib level [$42,539.13] and 0.114 [$44,070.27], at the time of writing. 

The bullish overhead targets for BTC market participants in the short-term are 0.236 and a secondary target of 0 [$45,501.00]. For bearish traders, they’re seeking to first hit 0.236 and then go down to test the 0.382 fib level [$40,706.79]. If bearish traders break 0.382, their third target is 0.5 [$39,225.86].

Bitcoin Analysis
Bitcoin is trading between $42k and $44k

The Fear and Greed Index is 52 Neutral and +1 from Wednesday’s reading of 51 Neutral. 

Fear and Greed
The Fear and Greed Index is 52 Neutral

Bitcoin’s Moving Averages: 20-Day [$40,142.15], 50-Day [$43,711.59], 100-Day [$51,072.80], 200-Day [$45,661.86], Year to Date [$41,332.16].

BTC’s 24 hour price range is $43,514-$44,706 and its 7 day price range is $41,793-$45,481. Bitcoin’s 52 week price range is $29,341-$69,044. 

The price of bitcoin on this date last year was $51,733. 

The average price of BTC for the last 30 days is $40,327. 

Bitcoin’s price [-1.51%] closed its daily candle worth $43,885 and in red figures for a second consecutive day.

Ethereum Analysis 

Ether’s price also dropped more than 1% on Wednesday and closed its daily candle -$59.91. 

The ETH/USD 1W chart below from PsychoMario shows the most critical levels for Ether as the week winds down. Bullish Ether traders are looking overhead at the $4k level now on the weekly time frame. Of course, Ether will need the macro outlook and bitcoin to cooperate to again reach 1 [$4,025.00] over the next few months. 

Conversely, bearish Ether traders are looking to snap 50.00% [$2,871.09] with a secondary target to the downside of 38.20% [$2,598.76]. 

Ethereum Analysis
The most critical levels for Ether

Ether’s Moving Averages: 20-Day [$2,813.29], 50-Day [$3,333.89], 100-Day [$3,736.10], 200-Day [$3,234.53], Year to Date [$3,022.58].

ETH’s 24 hour price range is $3,060-$3,188 and its 7 day price range is $2,850-$3,253. Ether’s 52 week price range is $1,353-$4,878. 

The price of ETH on this date in 2020 was $1,938.

The average price of ETH for the last 30 days is $2,853. 

Ether’s price [-1.88%] closed its daily candle on Wednesday valued at $3,122.02.

Theta Analysis

Theta Network’s price concluded its daily session on Wednesday +$0.04 and in green figures for a second straight day.

The third chart we’re analyzing today is the THETA/USD 1D chart below from TradingShot. Theta’s price is trading between 0.382 [$3.80] and 0.5 [$4.46]. 

If Theta bulls can break the 0.5 fib level their next overhead resistance is 0.618 [$5.22]. Above the 0.618 Theta bulls will again be seeking a trip back to the $6.50 level.

From the bearish perspective, they’re looking to push Theta’s price below 0.382 and again test the $3 level. Theta’s price tested that level earlier this year and bullish traders found support at 0 [$2.28].

Theta Analysis
Theta’s level

Theta’s Moving Averages: 20-Day [$3.27], 50-Day [$3.96], 100-Day [$5.23], 200-Day [$6.01], Year to Date [$3.66].

Theta Network’s 24 hour price range is $3.77-$4.04 and its 7 day price range is $3.35-$4.28. Theta’s 52 week price range is $2.27-$15.72. 

Theta’s price on this date in 2021 was $3.56. 

The average price of Theta over the last 30 days is $3.37. 

Theta Network’s price [+1.06%] closed its daily candle on Wednesday worth $3.89.

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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