Bitcoin (19k), Ethereum (1.3k), Avalanche Price Analyses
Bitcoin (19k), Ethereum (1.3k), Avalanche Price Analyses
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Bitcoin (19k), Ethereum (1.3k), Avalanche Price Analyses

By R.L. Bryer - 20 Sep 2022

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Bitcoin Analysis 

Bitcoin’s price has market participants questioning whether it’s preparing to put a second low or whether we’re witnessing a typical bearish backtest before further capitulation to the downside. Despite bearish divergence continuing to build on Monday, BTC’s price finished in green figures and was +$121 for its daily session. 

The BTC/USD 1W chart below from GiraffePiWorld is the first chart we’re examining today. BTC’s price is trading between the 1 fibonacci level [$18,077.8] and 0.618 [$28,969.0], at the time of writing.

Bullish traders are hoping they can reclaim territory above BTC’s former ATH of $19,891 from 2017 or they risk facing further downside in the short -term. The overhead targets on BTC are 0.618, 0.5 [$36,641.4], 0.382 [$44,313.8], 0.236 [$53,806.8], and 0 [$69,151.6].

Bearish traders are looking to push BTC’s price below the most recent low that was made earlier this year of $17,611 if they succeed in breaking the 1 fibonacci level.

BTC/USD 1W chart
BTC/USD 1W chart: the price is trading between the 1 fibonacci level $18,077.8] and 0.618 [$28,969.0]
The Fear and Greed Index is 23 Extreme Fear and is +2 from Monday’s reading of 21 Extreme Fear.

Fear and Greed
The Fear and Greed Index is 23 Extreme Fear

Bitcoin’s Moving Averages: 5-Day [$19,720.64], 20-Day [$20,283.67] 50-Day [$21,716.63], 100-Day [$24,200.62], 200-Day [$33,267.1], Year to Date [$32,121.57].

BTC’s 24 hour price range is $18,232.6-$19,686.2 and its 7 day price range is $18,232.6-$22,534.61. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date in 2021 was $43,002. 

The average price of BTC for the last 30 days is $20,470.3 and its -18.2% over the same period. 

Bitcoin’s price [+0.62%] closed its daily candle valued at $19,538.7 on Monday and back in green figures for the third time over the last four days. 

Ethereum Analysis 

Ether’s price has dropped more than 1% per day over the last 30 days and bullish traders are looking for a reprieve from bearish selling pressure. That pressure was slightly reduced on Monday and ETH’s price concluded its daily session +$40.89. 

The ETH/USD 4HR chart below by peterbhc is the second chart we’re providing analysis for today. Ether’s price is trading between the 0 fib level [$1,281.88] and 0.236 [$1,402.04], at the time of writing.

If bullish Ether traders want to try and stop the bleeding to the downside of the 4HR time frame they need to regain the 0.236 with a secondary target of 0.382 [$1,476.38]. The third target for bullish traders is 0.5 [$1,536.47], followed by targets of 0.618 [$1,696.55], 0.786 [$1,682.09], and 1 [$1.791.05]. 

Bearish traders are conversely aiming to push ETH’s price below the $1,300 level with a secondary target of a full retracement at 0 [$1,281.88].

ETH/USD 4HR chart
ETH/USD 4HR chart: the price is trading between the 0 fib level [$1,281.88] and 0.236 [$1,402.04]
Ether’s Moving Averages: 5-Day [$1,494.19], 20-Day [$1,590.41], 50-Day [$1,603.67], 100-Day [$1,638.15], 200-Day [$2,372.82], Year to Date [$2,255.65].

ETH’s 24 hour price range is $1,280-$1,393.35 and its 7 day price range is $1,280-$1,736.28. Ether’s 52 week price range is $883.62-$4,878. 

Ether’s price on this date in 2021 was $2,975.9. 

The average price of ETH for the last 30 days is $1,585.77 and its -26.7% over the same duration. 

Ether’s price [+3.06%] closed its daily candle on Sunday worth $1,376 and in green digits for the second time in three days. 

Avalanche Analysis

Avalanche’s price also experienced a bounce back on Monday and when traders settled-up to conclude Monday’s daily session, AVAX was +$0.57.

The third and final chart for analysis this Tuesday is the AVAX/USD 1D chart below from SquishTrade. Avalanche’s price is trading between 0.786 [$17.39] and 0.618 [$20.27], at the time of writing.

Bullish Avalanche market participants have targets to the upside of 0.618 [$20.27], 0.5 [$22.3] and 0.382 [$24.33]. 

As noted by the chartist below, if AVAX’s price retests its 2022 low at the 0.786 fibonacci level then we could see a new low for the year put in soon.

AVAX/USD 1D chart
AVAX/USD 1D chart: the price is trading between 0.786 [$17.39] and 0.618 [$20.27]
Avalanche’s Moving Averages: 5-Day [$18.33], 20-Day [$19.81], 50-Day [$22.35], 100-Day [$24.47], Year to Date [$36.8].

Avalanche’s 24 hour price range is $16.39-$17.38 and its 7 day price range is $16.39-$21.67. AVAX’s 52 week price range is $13.75-$146.29. 

Avalanche’s price on this date last year was $57.25. 

The average price of AVAX over the last 30 days is $20.07 and its -33.11% over the same timespan. 

Avalanche’s price [+3.41%] closed its daily session on Sunday worth $17.28. 

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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