Bitcoin Analysis
Bitcoin’s price snapped two straight days of positive price action on Tuesday and wrapped-up its daily candle -$676.
Today’s price analysis begins as always with bitcoin and today’s first chart is the BTC/USD 1D chart below from Operation_Morning_Star. BTC’s price is trading between the 1 fibonacci level [$17,370.73] and 0.786 [$28,638.77], at the time of writing.
The targets above for bullish BTC market participants are 0.786, 0.618 [$37,484.71], and 0.5 [$43,697.93].
Traders going short the BTC market are looking to again send BTC’s price back down to test the 2017 all-time high of $19,891. If they’re successful at pushing BTC’s price below that level the next fibonacci target is the 2022 low of 1 [$17,370.73] on bitstamp’s exchange.
Bitcoin’s Moving Averages: 5-Day [$23,241.62], 20-Day [$22,562.79], 50-Day [$22,959.44], 100-Day [$30,315.23], 200-Day [$38,559.77], Year to Date [$34,136.83].
The Fear and Greed Index is 31 Fear and is -11 from Tuesday’s reading of 42 Fear.
BTC’s 24 hour price range is $22,888-$23,913 and its 7 day price range is $22,526-$24,185. Bitcoin’s 52 week price range is $17,611-$69,044.
The price of Bitcoin on this date last year was $45,612.
The average price of BTC for the last 30 days is $22,295 and its +7.4% over the same duration.
Bitcoin’s price [-2.84%] closed its daily candle worth $23,141 on Tuesday and in red figures for the first time in three days.
Ethereum Analysis
Ether’s price sold-off more than 4% on Tuesday and when traders settled up at the daily session close ETH was -$75.55.
The second chart we’re looking at today is the ETH/USD 12HR chart below by puzzledHare79535. Ether is trading between 0.786 [$1,703.15] and 0.618 [$1,727.74], at the time of writing.
Market participants that are long ETH are eyeing overhead targets of 0.618, 0.5 [$1,745.01], and 0.382 [$1,762.38].
Traders that are convinced lower prices are in store because of the recent bearish rejection of Ether bulls at the $1,800 level have targets to the downside of 0.786, 1 [$1,671.82], and 1.618 [$1,581.37].
Ether’s Moving Averages: 5-Day [$1,685.47], 20-Day [$1,544.50], 50-Day [$1,406.91], 100-Day [$2,059.90], 200-Day [$2,767.33], Year to Date [$2,364.98].
ETH’s 24 hour price range is $1,667.93-$1,790.83 and its 7 day price range is $1,592.48-$1,806.67. Ether’s 52 week price range is $883.62-$4,878.
The price of ETH on this date in 2021 was $3,139.33.
The average price of ETH for the last 30 days is $1,503.33 and its +40.12% over the same time frame.
Ether’s price [-4.25%] closed its daily candle on Tuesday worth $1,702.8 and in red digits also for the first time in three daily candle closes.
Quant Analysis
Quant’s price also took a step backwards on Tuesday and concluded its daily trading session -$3.1.
The last chart to wrap up today’s price analyses is the QNT/USD 1W chart below from huy221. Quant’s price is trading between 1 [$110.12] and 1.618 [$147.98], at the time of writing.
The overhead targets for QNT bulls are 1.618 and 2.618 [$209.24].
The downside targets for bearish QNT traders are the 1 fib level, followed by 0.5 [$79.49], and a full retracement back to 0 [$48.86].
Quant’s price is +86.73% against The U.S. Dollar for the last 90 days, +153.3% against BTC, and +159.8% against ETH, over the same time frame.
QNT’s 24 hour price range is $119.8-$129.6 and its 7 day price range is $101.43-$132.05. Quant’s 52 week price range is $40.5-$416.6.
Quant’s price on this date last year was $154.4.
The average price of QNT over the last 30 days is $101.33 and its +73.04% over the same timespan.
Quant’s price [-2.41%] closed its daily candle on Tuesday worth $125.7 and in red figures for the first time since August 4th.