Bitcoin, Ethereum, Binance Coin Price Analyses
Bitcoin, Ethereum, Binance Coin Price Analyses
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Bitcoin, Ethereum, Binance Coin Price Analyses

By R.L. Bryer - 20 Jun 2022

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Bitcoin Analysis 

Bitcoin’s price confirmed a bullish engulfing candle back above support on the daily timescale on Sunday. That support level dates back to December 2017 when BTC made its cycle-top high of $19,891. BTC’s price closed Sunday’s daily session +$1,578. 

Today’s fist chart of emphasis is the BTC/USD 1W chart below from BDTrading. BTC’s price closed just above an 8 year long historical trendline at $18,314.35.  

BTC’s price hit the 360 EMA at $19,046.62 and fell below it briefly on Saturday before bouncing back above the $19k level early during Sunday’s daily candle.

Bullish BTC traders have a primary target of reclaiming the 1 fibonacci level [$33,162.82].

Conversely, bearish traders are trying to send BTC’s price back below the 1.414 and down to lows not seen since before December 2020. 

Bitcoin Analysis 
BTC/USD 1W chart: the price closed just above an 8 year long historical trendline at $18,314.35

The Fear and Greed Index is 9 Extreme Fear and is +3 from yesterday’s reading of 6 Extreme Fear. 

Fear and Greed
The Fear and Greed Index is 9 Extreme Fear

Bitcoin’s Moving Averages: 5-Day [$21,643.56], 20-Day [$27,988.72], 50-Day [$32,915.31], 100-Day [$37,385.81], 200-Day [$44,401.14], Year to Date [$38,013.40]. 

BTC’s 24 hour price range is $17,950-$20,744 and its 7 day price range is $17,760-$26,389. Bitcoin’s 52 week price range is $17,605-$69,044. 

The price of Bitcoin on this date last year was $35,631. 

The average price of BTC for the last 30 days is $27,846.6 and its -31% over the same duration. 

Bitcoin’s price [+8.31%] closed its daily candle worth $20,566 and in green figures for the second time over the last three days.  

Ethereum Analysis 

Ether’s price sold-off to lower prices for the 11th consecutive week but at times was up over 20% on Sunday and ETH closed its daily session +$132.87.

The second chart we’re looking at today is the ETH/USD 1D chart below cryptoinnovateur. ETH’s price is trading between 0.618 [$934.70] and 0.5 [$1,168.93], at the time of writing. 

Ether bulls have been absolutely battered over the last 30 days. Their targets to the upside are 0.5 [$1,168.93], 0.382 [$1,403.16], and 0.236 [$1,692.97].

Bearish BTC traders are targeting to send BTC’s price back to retest the 0.618 fib level. If they’re successful in cracking 0.618 to the downside, the next targets for bears are 0.786 [$601.22] and 1 [$176.43].

Ethereum Analysis 
ETH/USD 1D chart: the price is trading between 0.618 [$934.70] and 0.5 [$1,168.93]
Ether’s Moving Averages: 5-Day [$1,160.82], 20-Day [$1,677.38], 50-Day [$2,258.77], 100-Day [$2,597.67], 200-Day [$3,178.07], Year to Date [$2,675.92].

ETH’s 24 hour price range is $936.15-$1,158.62 and its 7 day price range is $897.49-$1,403.89. Ether’s 52 week price range is $881.56-$4,878. 

The price of ETH on this date in 2021 was $2,243.42.

The average price of ETH for the last 30 days is $1,679.31 and its -44.89% over the same timespan. 

Ether’s price [+13.35%] closed its daily candle on Sunday worth $1,128.45 and in green figures also for the second time over three days. 

Binance Coin Analysis

Binance Coin’s price also rallied on Sunday to close out the week’s candle and concluded its candle on Sunday +$17.9. 

The BNB/USD 1D chart below from RhaonnorCrypto paints a rather bleak picture for bullish traders. Bullish BNB market participants lost a key level of $210.76 which is basically the equivalent of $30k BTC. 

The next level of formal support for bulls is the $126 level. If bullish BNB market participants can’t get back above $210.76 then bearish traders may be ready to test the $126 level over the coming days or weeks.

Binance Coin Analysis
BNB/USD 1D chart paints a rather bleak picture for bullish traders

Binance Coin’s Moving Averages: 5-Day [$220.11], 20-Day [$284.23], 50-Day [$333.68], 100-Day [$378.50], 200-Day [$440.48], Year to Date [$382.12].

Binance Coin’s 24 hour price range is $189.7-$217 and its 7 day price range is $186.44-$247.52. BNB’s 52 week price range is $183.4-$668.8. 

Binance Coin’s price on this date last year was $339.1. 

The average price of BNB over the last 30 days is $283.32 and its -27.57% over the same time frame. 

Binance Coin’s price [+9.08%] closed its daily session on Sunday worth $215 and BNB’s also concluded two of the last three daily sessions in green figures. 

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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