Bitcoin Analysis
Bitcoin’s price is in the midst of painting its largest bullish engulfing candle on the monthly time frame since October of 2021 and bulls continued that momentum during Sunday’s daily session. BTC’s price closed Sunday +$730.2 with a bullish engulfing candle and at its highest level since August of 2022.
The BTC/USD 1W chart below from AlanSantana is where we’re beginning a new week of price analyses. BTC’s price is trading between the 0.148 fibonacci level [$23,438.7] and the 0.236 fib level [$28,153.7], at the time of writing.
Bullish BTC traders will attempt this week to keep the momentum going after regaining the 0.148 fib level last week. Their targets to the upside on BTC are 0.236, 0.382 [$35,976.4], 0.5 [$42,298.8], and the 0.618 fib level [$48,621.2].
At variance with bullish traders are those that are still trying to short BTC’s price to the downside. On the weekly time frame bearish targets on BTC are 0.148 and a full retracement at 0 [$15,508.9].
Bitcoin’s Moving Averages: 5-Day [$23,131.80], 20-Day [$19,850.40], 50-Day [$18,019.44], 100-Day [$18,685.12], 200-Day [$22,100.14], Year to Date [$19,850.40].
BTC’s 24 hour price range is $23,051-$23,960 and its 7 day price range is $22,437.68-$23,960. Bitcoin’s 52 week price range is $15,505-$48,162.9.
The price of Bitcoin on this date last year was $37,917.7.
The average price of BTC for the last 30 days is $19,624.6 and its +40.7% over the same interval.
Bitcoin’s price [+3.17%] closed its daily candle worth $23,753.1 on Sunday.
Summary
Ethereum Analysis
Ether’s price also marked-up higher during Sunday’s daily trading session and when traders settled-up for the day, ETH’s price was +$72.89.
The second chart we’re analyzing for this Monday is the ETH/USD 1D chart by zabaroptik. Ether’s price is trading between the 0.236 fibonacci level [$1,555.06] and the 0 fib level [$1,680.00].
The primary aim of bullish Ether traders is the $1,680 level on the daily time frame and they’ve support at the 0.236 fib level.
Conversely, bearish traders have targets below the 0.236 fibonacci level of 0.382 [$1,477.77], and the 0.5 fib level [$1,415.30].
ETH’s 24 hour price range is $1,582.45-$1,660 and its 7 day price range is 1,555.97-$1,660. Ether’s 52 week price range is $883.62-$3,579.96.
The price of ETH on this date in 2022 was $2,602.60.
The average price of ETH for the last 30 days is $1,426.08 and its +33.51% over the same duration.
Ether’s price [+4.63%] closed its daily session on Sunday worth $1,646 and in positive digits for the first time in four days.
Litecoin Analysis
Litecoin’s price was the top performer by percentage of the lot today and when LTC’s daily candle was painted the asset was +$5.21.
We can see below on the LTC/USD 1D chart via rcange239 that Litecoin’s price is testing a supply zone and needs to break the $101.19 level.
Bullish Litecoin market participants have been enjoying an uptrend since July and the target above on LTC for bulls is the $130 level if they can break $101.19 as overhead resistance.
Bears that trade Litecoin want to reject bulls once again at the $101.19 level and retest the heartline of the daily timescales structure.
Litecoin’s Moving Averages: 5-Day [$89.14], 20-Day [$83.39], 50-Day [$76.54], 100-Day [$66.02], 200-Day [$64.68], Year to Date [$83.39].
Litecoin’s 24 hour price range is $93.57-$97.77 and its 7 day price range is $86.27-$97.77. LTC’s 52 week price range is $40.4-$143.8.
Litecoin price on this date last year was $108.60.
The average price of LTC over the last 30 days is $82.29 and its 43.06% during the same stretch.
Litecoin’s price [+5.81%] closed its daily candle worth $94.88 on Sunday and in green digits for a third day in a row.
