Bitcoin Analysis
Bitcoin’s price has printed three consecutive red daily candles but the asset’s only marked-down cumulatively over that period by 0.79%. On Sunday, when traders settled-up on Bitcoin at the session’s close, BTC’s price was -$23.
The BTC/USD 1D chart below from maikisch is where we’re beginning this week’s price analyses. At the time of writing, BTC’s price is trading between the 1.5 fibonacci level [$15,693.00] and the 1.382 fib level [$17,132.00].
The overhead targets on BTC are the 1.382 fib level followed by 1.236 [$19,096.00], 1 [$22,758.00], and 0.786 [$26,682.00].
Conversely, those still shorting the Bitcoin market have targets to the downside of 1.5, 1.618 [$14,375.00], 1.786 [$12,687.00], and 2 [10,821.00].
BTC/USD 1D chart: the price is trading between the 1.5 fibonacci level [$15,693.00] and the 1.382 fib level [$17,132.00]
The Fear and Greed Index is 27 Fear and +6 from last month’s reading of 21 Extreme Fear.
Bitcoin’s Moving Averages: 5-Day [$17,017.79], 20-Day [$16,661.39], 50-Day [$18,371.18], 100-Day [$19,832.81], 200-Day [$26,103.64], Year to Date [$28,843.11].
BTC’s 24 hour price range is $17,092-$17,503 and its 7 day price range is $16,781.78-$17,362.29. Bitcoin’s 52 week price range is $15,501-$52,027.
The price of Bitcoin on this date last year was $50,123.
The average price of BTC for the last 30 days is $16,758.9 and its +7.9% over the same period.
Bitcoin’s price [-0.13%] closed its daily candle worth $17,109 and in negative figures for a third consecutive day on Sunday.
Ethereum Analysis
Ether’s price also slid on Sunday but the damage by bearish trader’s on the world’s second ranked cryptocurrency by market capitalization was minimal. When the day’s candle was painted, ETH’s price was -$3.22.
The second chart we’re analyzing for this Monday is the ETH/USDT PERPETUAL FUTURES 1HR chart below by TREASUREVALUES_FX. ETH’s price is trading between the 23.60% fib level [$1,273.62] and the 0.00% fibonacci level [$1,283.92], at the time of writing.
Bullish traders have been unable to exceed the -27.20% fib level [$1,295.79] for any extended duration lately but that’s the goal of bullish Ether traders if they can regain the 0.00% fib level. Above the -27.20% fib level is the -61.80% fib level [$1,310.88] which if bulls can regain may take the asset’s price back to the $1,400 level in time.
The targets to the downside on ETH are 23.60%, 38.20% [$1,267.25], 50.00% [$1,262.11], 61.80% [$1,256.96], 78.60% [$1,249.63], and the 100.00% fib level [$1,240.29] in the short-term.
Ether’s Moving Averages: 5-Day [$1,257.12], 20-Day [$1,221.12], 50-Day [$1,321.45], 100-Day [$1,460.10], 200-Day [$1,824.13], Year to Date [$2,031.07].
ETH’s 24 hour price range is $1,255.85-$1,284.75 and its 7 day price range is $1,225.02-$1,302.22. Ether’s 52 week price range is $883.62-$4,173.15.
The price of ETH on this date in 2021 was $4,131.84.
The average price of ETH for the last 30 days is $1,230.96 and its +15.62% during the same interval.
Ether’s price [-0.25%] closed its daily session on Sunday worth $1,263.39 and in red figures again after closing Saturday’s session in green figures.
Avalanche Analysis
Avalanche’s price followed the macro lower on Sunday and was the worst performer of today’s price analyses. When traders wrapped-up trading Avalanche’s token on Sunday, AVAX was -$0.52.
The AVAX/USD 1D chart below from MonoCoinSignal is the final chart for analysis this Monday. Avalanche’s price is nestled between the 0.382 fib level [$13.23] and 0.236 fib level [$13.66], at the time of writing.
We can see on the daily timescale that AVAX’s price bounced at the 1 fib level and since bullish traders have claimed the asset’s momentum for the interim. Bullish AVAX market participants have targets of 0.236 and a full retracement at 0 [$14.35].
Bearish AVAX traders are conversely trying to stop the recent bullish ascent and reverse course before bullish traders regain the 0.236 fib level. The targets to the downside for bearish traders are 0.382, 0.5 [$12.89], 0.618 [$12.55], 0.786 [$12.06], and the 1 fib level [$11.43].
Avalanche’s 24 hour price range is $12.92-$13.5 and its 7 day price range is $12.92-$14.29. AVAX 52 week price range is $11.49-$127.19.
Avalanche’s price on this date last year was $88.04.
The average price of AVAX over the last 30 days is $13.16 and its +2.95% for the same duration.
Avalanche’s price [-3.85%] closed its daily candle on Sunday worth $12.98 and in red digits for the first time in four days.
Source: https://en.cryptonomist.ch/2022/12/12/bitcoin-16k-ethereum-1-2k-avalanche-price-analyses/