Summary
Bitcoin Analysis
Bitcoin’s price bounced on Tuesday +$522 and broke a streak of two straight days of selling that took BTC’s price lower by 7.6% over a 48 hour span.
The BTC/USD 1W chart below by XRP-Jonny shows BTC’s price trading inside a rising channel but at the bottom of that channel and forming a textbook bull flag. BTC’s price is trading between the 0.786 fibonacci level [$39,597.46] and the 0.702 fib level [$40,383.23].
The targets for bullish BTC traders are 0.702, 0.618 [$41,168.99] and 0.5 [$42,272.81].
For bearish traders, they’re looking to snap the 0.786 with candle close confirmation on the weekly timescale. A secondary target of 1 [$37,595.62] is next up for bearish traders with a third target of 1.618 [$31,814.61].
Bitcoin’s Moving Averages: 5-Day [$41,972.05], 20-Day [$43,751.21], 50-Day [$41,904.41], 100-Day [$44.215.47], 200-Day [$46,565.23], Year to Date [$41,603.45].
BTC’s 24 hour price range is $39,443-$40,659 and its 7 day price range is $39,443-$46,014. Bitcoin’s 52 week price range is $29,341-$69,044.
The price of bitcoin on this date last year was $59,911.
The average price of BTC for the last 30 days is $43,121.
Bitcoin’s price [+1.32%] closed its daily candle worth $40,087 on Tuesday.
Ethereum Analysis
Ether’s price finished just marginally better than BTC’s price by percentage points on Tuesday and concluded its daily session +$49.57.
The ETH/USD 1W chart below from Griffin0318 shows Ether’s price trying to hold the $3k level on the weekly time frame.
If bullish Ether traders are unable to send ETH’s price back above the $3,600 level in the coming weeks and ETH’s price fails to hold its current trend line, it becomes increasingly probabilistic that a major breakdown to the downside could be forthcoming.
If that event occurs it could send Ether’s price back to a level near ETH’s former ATH of $1,300-$1,400.
Of course, if ETH bears do fail to push ETH’s price below the $3k level and bulls hold-on to that level as support and rally, a new all-time high for ETH could be the result.
Ether’s Moving Averages: 5-Day [$3,145.45], 20-Day [$3,165.45], 50-Day [$2,947.05], 100-Day [$3,293.98], 200-Day [$3,315.42], Year to Date [$2,974.64].
ETH’s 24 hour price range is $2,961-$3,080 and its 7 day price range is $2,961-$3,463. Ether’s 52 week price range is $1,719-$4,878.
The price of ETH on this date in 2021 was $2,142.48.
The average price of ETH for the last 30 days is $3,092.63.
Ether’s price [+1.66%] closed its daily candle on Tuesday worth $3,027.65.
XRP Analysis
XRP’s price had the best day of the lot in today’s article and concluded its daily candle up almost 3% and +$.021.
The XRP/USD 1D chart below from btgraph shows XRP’s price trading between 0.236 [$0.64584] and 0.382 [$0.89731], at the time of writing.
The primary target for bullish XRP traders is 0.382 followed by 0.5 [$1.10055] and a third target of 0.618 [$1.30380].
Bearish XRP traders are looking to push XRP’s price below the 0.236 fib level with a secondary target back below $0.50.
XRP’s 24 hour price range is $0.686-0.721 and its 7 day price range is $0.686-$0.823. XRP’s 52 week price range is $0.517-$1.94.
XRP’s price on this date last year was $1.46.
The average price of XRP over the last 30 days is $0.803.
XRP’s price [+2.98%] closed its daily session on Tuesday valued at $0.715.
