Bitcoin Price Analysis (BTC-USD) – The Cryptonomist

Bitcoin Analysis 

Bitcoin’s price painted a green candle on the weekly time frame to close last week but took a step back on Sunday and when traders settled-up for BTC’s daily session, BTC was -$382.2. 

We’re beginning a new week of price analyses with the BTC/USD 1M chart from FX_WAVE. BTC’s price continued to climb over the weekend and regained the $21k level.

Aside from the obvious accumulation between the $17,611 level and the $20k level over the last few months, the chart below shows that the RSI on the monthly timescale has broken its downtrend.

Looking left on the 1M BTC chart, we can also see that historically when the RSI’s broke that downtrend, it provided market participants with a signal that the bottom of the bear market’s in on BTC’s price. 

BTC/USD 1M chart: the price continued to climb over the weekend and regained the $21k level

The Fear and Greed Index is 33 Fear and is -7 from yesterday’s reading of 40 Fear. 

The Fear and Greed Index is 33 Fear 

Bitcoin’s Moving Averages: 5-Day [$20,490.98], 20-Day [$19,805.95], 50-Day [$19,784.91], 100-Day [$20,820.47], 200-Day [$29,103.14], Year to Date [$30,198.44].

BTC’s 24 hour price range is $20,886.1-$21,365.3 and its 7 day price range is $20,064.63-$21,417.69. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $63,259.1. 

The average price of BTC for the last 30 days is $19,866.5 and its +4.5% over the same interval. 

Bitcoin’s price [-1.79%] closed its daily candle worth $20,916.1 and in red figures for the first time in four days on Sunday. 

Ethereum Analysis 

Ether’s price followed the macro crypto market lower during Sunday’s trading frame and when Sunday’s candle was painted, ETH’s price was -$55.97.  

The ETH/USD 1D chart below by EdgarTigranyan is the second chart we’re analyzing for this Monday. ETH’s price is trading between the 38.20% fibonacci level [$1,562.51] and 23.60% [$1,651.52], at the time of writing.

Bullish Ether traders have sent ETH’s price 2.3% higher over the last 7 days and the targets above to achieve a full retracement are the 23.60% fib level and 0.00% [$1,795.38].

Contrariwise, those that believe the bottom is yet to be put in on ETH’s price have targets to the downside on the daily time frame of 38.20%, 50.00% [$1,490.58], 61.80% [$1,418.64], 65.00% [$1,399.14], 78.60% [$1,316.23], 100.00% [$1,185.77] and 161.80% [$809.03].

ETH/USD 1D chart: the price is trading between the 38.20% fibonacci level [$1,562.51] and 23.60% [$1,651.52]

Ether’s Moving Averages: 5-Day [$1,567.98], 20-Day [$1,415.72], 50-Day [$1,444.90], 100-Day [$1,454.72], 200-Day [$2,026.20], Year to Date [$2,120.83].

ETH’s 24 hour price range is $1,564.39-$1,639.02 and its 7 day price range is $1,508.91-$1,659.61. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $4,611.73. 

The average price of ETH for the last 30 days is $1,413.11 and its +18.89% over the same span.

Ether’s price [-3.44%] closed its daily session on Sunday valued at $1,571.03 and in red figures for a second day in a row. 

Solana Analysis

Solana’s price was the worst performer in the Top 10 on Sunday and concluded its daily session -$4.26 per unit. 

The final chart for examination this Monday is the SOL/USD 1D chart below from maikisch. SOL’s price is trading between the 1.236 fib level [$31.17] and the 1 fib level [$41.72], at the time of writing. 

The primary overhead aim of bullish SOL traders is the 1 fib level followed by the 0.786 [$54.35].

Bearish Solana traders are conversely trying to reject bulls at or below the 1 fib level and pursue further technical damage to the bullish case.

The targets of bearish SOL traders are 1.236, 1.382 [$26.02], 1.5 [$22.49], 1.618 [$19.44], 1.786 [$15.79], and the 2 fibonacci level [$12.12].

SOL/USD 1D chart: the price is trading between the 1.236 fib level [$31.17] and the 1 fib level [$41.72] 

SOL’s Moving Averages: 5-Day [$32.05], 20-Day [$30.88], 50-Day [$32.13], 100-Day [$35.28], 200-Day [$58.79], Year to Date [$65.53].

Solana’s 24 hour price range is $32.31-$36.78 and its 7 day price range is $30.35-$38.03. SOL’s 52 week price range is $25.97-$258.49.  

Solana’s price on this date last year was $249.60. 

The average price of SOL over the last 30 days is $31.36 and its +4.22% over the same duration. 

Solana’s price [-11.55%] closed its daily candle on Sunday worth $32.63 and in negative digits for the first time in four trading sessions.