On Sunday bearish traders of the Bitcoin market secured their first red candle in five weeks and sent the asset’s value lower by $379 on the day.
The BTC/USD 1W chart below from holeyprofit is where we’re leading-off this week’s analyses. BTC’s price is trading in between the 0.618 fibonacci level [$21,794.1] and the 0.76 fib level [$23,238.5], at the time of writing.
The targets on bitcoin to the upside of the weekly time frame are the 0.76 fib level followed by 0.86 [$24,255.78], 1.272 [$28,446.63], 1.618 [$31,966.13], 2.272 [$38,618.60], and the 2.618 fibonacci level [$42,138.10].
If bearish BTC traders can capitalize on last week’s red weekly candle and inflict further damage to the downside they’ll first need to push BTC’s price below the 0.618 fib level. Their targets on BTC below the 0.618 are 0.5 [$20,593.87], 0.382 [$19,393.58], 0.236 [$17,908.47], and a full retracement at 0 [$15,507.88].
The Fear and Greed Index is 56 Greed and is +31 from last month’s reading of 25 Extreme Fear.
Bitcoin’s Moving Averages: 5-Day [$23,258.91], 20-Day [$21,465.17], 50-Day [$18,716.77], 100-Day [$18,810.66], 200-Day [$21,697.22], Year to Date [$20,532.10].
BTC’s 24 hour price range is $22,777-$23,419 and its 7 day price range is $22,777-$23,485. Bitcoin’s 52 week price range is $15,505-$48,162.9.
The price of Bitcoin on this date last year was $42,379.
The average price of BTC for the last 30 days is $21,041 and its +37.5% over the same interval.
Bitcoin’s price [-1.63%] closed its daily candle worth $22,936 and in red digits for a fourth consecutive daily session on Sunday.
Ether’s price marked-down as well on Sunday and when traders settled-up to close the day’s candle, ETH’s price was -$37.47.
The second chart we’re looking at for this Monday is the ETH/USD 2D chart below by SquishTrade. At the time of writing, Ether’s price is trading in between the 0.5 fib level [$1,551.53] and the 0.618 fibonacci level [$1,664.82].
On the 2D timescale we can see below that the targets for bulls of the Ethereum market are 0.618, 0.786 [$1,826.11], and 1 [$2,473.66].
Bearish traders that are still shorting the Ethereum market are targeting the 0.5 fib level if they can crack an important level of inflection at $1,600. Below the 0.5 fibonacci level bearish ETH traders have a secondary target of the 0.382 fib level [$1,438.24].
Ether’s Moving Averages: 5-Day [$1,612.70], 20-Day [$1,543.42], 50-Day [$1,360.12], 100-Day [$1,350.85], 200-Day [$1,508.89], Year to Date [$1,482.79].
ETH’s 24 hour price range is $1,609.3-$1,673.81 and its 7 day price range is $1,5660.5-$1,673.81. Ether’s 52 week price range is $883.62-$3,579.96.
The price of ETH on this date in 2022 was $3,056.40.
The average price of ETH for the last 30 days is $1,517.71 and its +35.39% over the same duration.
Ether’s price [-2.25%] closed its trading session on Sunday worth $1,629.45 and in red digits for the first time in three days.
The final chart to wrap-up the projects we’re analyzing for this Monday is the ALGO/USD 4HR chart below from plancton0618. Algorand’s price is nestled between the 0.5 fibonacci level [$0.2362] and the 0.618 fib level [$0.2543], at the time of writing.
Overhead bullish traders of the Algorand market have levels to control of 0.618, 0.786 [$0.28], and the 0.886 fib level [$0.2953].
Bearish traders will be looking to send ALGO’s price back below the heartline of its 4HR channel and are targeting the 0.5 fib firstly. Bearish ALGO traders have a secondary aim of the 0.382 fib level [$0.2182] which would potentially set up bears for a retest of the asset’s 12-month low [$0.159].
Algorand’s Moving Averages: 5-Day [$0.25], 20-Day [$0.233], 50-Day [$0.215], 100-Day [$0.27], 200-Day [$0.319], Year to Date [$0.233].
Algorand’s 24 hour price range is $0.25-$0.27 and its 7 day price range is $0.239-$0.27. ALGO’s 52 week price range is $0.159-1.10.
Algorand’s price on this date last year was $1.02.
The average price of ALGO over the last 30 days is $0.23 and its +37.71% over the same span.
Algorand’s price [-3.67%] closed its daily candle on Sunday worth $0.257 and in red figures for a second straight day.