Bitcoin’s price managed to again hold an important historical support from last decade on Wednesday and when the day’s session concluded, BTC’s price was +$46.5.
The first chart we’re analyzing today is the BTC/USD 1D chart below by DannyC914. BTC’s price is trading between the 1 fibonacci level [$18,527.00] and 0.382 fib level [$22,659.92], at the time of writing.
Thus far bullish traders have been able to defend the $20k level and more specifically BTC’s former 2017 all-time high of $19,891. If bullish BTC market participants can rally off of support at that level their targets are 0.382 and a full retracement at 0 [$25,214.57].
Conversely, bearish BTC traders are looking to short BTC’s price and send it back below the former ATH from 2017 and send it down to retest the 12-month low at $17,611. The primary fib levels of concern for traders taking aim to the downside of the daily timescale are the 1 fib level followed by 1.272 [$16,707.98], 1.382 [$15,972.35], 1.618 [$14,394.08], and 2 [$11,839.43].
The Fear and Greed Index is 28 Fear and is +1 from Wednesday’s reading of 27 Fear.
Bitcoin’s Moving Averages: 5-Day [$20,718.93], 20-Day [$20,669.77], 50-Day [$21,832.14], 100-Day [$24,787.6], 200-Day [$33,690.68], Year to Date [$32,330.69].
BTC’s 24 hour price range is $19,617.6-$20,541.5 and its 7 day price range is $19,142.86-$22,534.61. Bitcoin’s 52 week price range is $17,611-$69,044.
The price of bitcoin on this date last year was $48,136.
The average price of BTC for the last 30 days is $21,129.6 and its -17.4% over the same time frame.
Bitcoin’s price [+0.23%] closed its daily candle worth $20,221.9 and in green figures again for the seventh time over the last eight days.
Ether’s price concluded Wednesday’s daily session +$63.9 on the last day that Ethereum’s network will ever have a daily candle painted that was entirely under a proof-of-work [PoW] consensus mechanism.
Today’s second chart of emphasis is the ETH/USD 4HR chart below from XTrendSpeed. ETH’s price is trading between the 0 fib level [$1,552.37] and 0.382 [$1,632.12], at the time of writing.
The overhead targets for bullish Ether market participants are 0.382, 0.5 [$1,656.76], 0.618 [$1,681.4], 0.786 [$1,716.48], and 1 [$1,761.48].
At variance with bullish traders are bearish Ether traders that are short The Merge. Their targets are a full retracement at the 0 fibonacci level with a mid-term target of a retest of the $883.62 level – which is ETH’s 12-month low.
Ether’s Moving Averages: 5-Day [$1,660.13], 20-Day [$1,634.5], 50-Day [$1,590.82], 100-Day [$1,681.36], 200-Day [$2,411.19], Year to Date [$2,269.33].
ETH’s 24 hour price range is $1,553.1-$1,652.7 and its 7 day price range is $1,553.1-$1,780.39. Ether’s 52 week price range is $883.62-$4,878.
The price of ETH on this date in 2021 was $3,612.9.
The average price of ETH for the last 30 days is $1,659.46 and its -18.89% over the same period.
Ether’s price [+4.06%] closed its daily candle on Wednesday worth $1,638.8 and in green figures for the first time in four days.
Axie Infinity Analysis
Axie Infinity’s price finished its daily candle on Wednesday up over 1% and +$0.15.
The last chart we’re looking at for this Thursday is the AXIE/USDT 1D chart below from Cazimiro. Axie’s price is trading above support at $12.34, at the time of writing.
The overhead targets if bullish AXIE market participants can muster another rally to the upside are $15.20, $17.96, $19.14, $27.77, and $41.90.
Of course, bearish AXIE traders are hoping to negate any chance of further momentum to the upside in the interim. The aim of bearish AXIE traders is to again test the $12.34 level as support and then push AXIE’s price below the bottom of that range at the $9.59 level.
Axie Infinity’s Moving Averages: 5-Day [$13.94], 20-Day [$14.18], 50-Day [$15.52], 100-Day [$17.83], Year to Date [$24.98].
Axie Infinity’s 24 hour price range is $12.84-$13.45 and its 7 day price range is $12.84-$15.02. Axie’s 52 week price range is $11.88-$165.33.
Axie Infinity’s price on this date last year was $68.64.
The average price of AXIE over the last 30 days is $14.76 and its -29.37% over the same timescale.
Axie Infinity’s price [+1.14%] closed its daily session on Wednesday worth $13.32 and in green digits for the first time in five days.