Summary
Bitcoin Analysis
Bitcoin’s price finally closed in green figures again on Sunday after posting seven straight days in red figures. BTC’s price concluded its daily session on Sunday +$78.8.
The first chart we’re analyzing for the new week is the BTC/USD 1D chart below from BradMatheny. Traders can see that BTC’s price is trading well below a full retracement at 0 [$30,242.87] and is again trading below the $20k level, at the time of writing.
Bullish traders first need to regain the territory above the 2017 all-time high of $19,891 and then reclaim the $20k level before attempting to eclipse the 0 fibonacci level again.
Conversely, bearish traders are looking to inflict further damage to the downside. The chartist posits that the $10k level could potentially be the next stop for BTC’s price.
The Fear and Greed Index is 14 Extreme Fear and is +3 from Sunday’s reading of 11 Extreme Fear.
BTC’s 24 hour price range is $18,774-$19,666 and its 7 day price range is $18,774-$21,475. Bitcoin’s 52 week price range is $17,611-$69,044.
The price of Bitcoin on this date last year was $35,829.
The average price of BTC for the last 30 days is $23,517 and its -36.7% over the same duration.
Bitcoin’s price [+0.41%] closed its daily candle worth $19,308.8 on Sunday.
Ethereum Analysis
Ether’s price finished marginally better than BTC’s price on Sunday and ETH concluded its daily session +$7.44.
The second chart we’re looking at for Monday is the ETH/USD 4HR chart below by AlanSantana. ETH’s price is trading between 0.618 [$1,035.9] and 0.5 [$1,083.2], at the time of writing.
The overhead targets for bullish Ether traders are 0.5, 0.382 [$1,130.45], and 0.236 [$1,188.95].
The targets to the downside for bearish ETH traders are 0.618, 0.786 [$968.6], and 1 [$882.9].
ETH’s 24 hour price range is $1,040-$1,088 and its 7 day price range is $1,010-$1,239. Ether’s 52 week price range is $883.62-$4,878.
The price of ETH on this date in 2021 was $2,321.
The average price of ETH for the last 30 days is $1,300.59 and its -39.47% over the same time frame.
Ether’s price [+0.70%] closed its daily candle worth $1,074.06 on Sunday and in green figures for a second consecutive day.
Chainlink Analysis
When traders settled up on Sunday for LINK’s daily session close, LINK’s price was exactly the same as when it had begun the new day.
The LINK/USD 1D chart below by Great_Reset_Investing shows LINK’s price accumulating above the 0 fibonacci level [$5.04], at the time of writing.
Bullish LINK traders are looking for a rally back above the heartline of its current descending structure. That rally would take LINK back above the $8.5 level. The secondary target of bullish traders above the heartline is the 0.236 [$12.95] followed by a third target of 0.382 [$17.78].
LINK market participants expecting further downside and acting upon that intuition are looking to push LINK’s price below the 0 fib level with hope of causing further technical damage to the fortune of bulls.
Chainlink’s 24 hour price range is $6.01-$6.25 and its 7 day price range is $5.94-$7.02. LINK’s 52 week price range is $5.32-$38.17.
Chainlink’s price on this date last year was $19.26.
The average price of LINK over the last 30 days is $6.94 and its -9.05% over the same timespan.
Chainlink’s price [0.00%] closed its daily session on Sunday worth $6.22 and even after finishing in green figures for Saturday’s daily candle.
