Bitcoin (20k), Ethereum (1.6k), Axie Infinity Price Analyses
Bitcoin (20k), Ethereum (1.6k), Axie Infinity Price Analyses
Trading

Bitcoin (20k), Ethereum (1.6k), Axie Infinity Price Analyses

By R.L. Bryer - 15 Sep 2022

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Bitcoin Analysis 

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].

Bitcoin Analysis 

The Fear and Greed Index is 28 Fear and is +1 from Wednesday’s reading of 27 Fear.

Bitcoin Analysis 

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. 

Ethereum Analysis 

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. 

Ethereum Analysis 

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 Analysis

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.

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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