Summary
Bitcoin Analysis
Bitcoin’s price finished marginally in green figures to cap the week’s final daily candle and finished Sunday +$171.
Today’s first analysis is of the BTC/USD 1D chart below from OptimoomFX. Traders will note that bears are in momentum of BTC’s price action and have broken a number of important support levels for bullish traders to this point. Bitcoin’s price made its all-time high November 10th and since that double-top on the chart its -38.3%.
The chartist posits a break of $40k on the daily timescale will likely bring BTC’s price back down to test the $30k level over time. If bulls wish to reclaim a bit of momentum and send BTC’s price back upward in the interim, bulls first need to reclaim the $45,745 level with a secondary target of the $47,903 level.
Another timescale we’ll look at is the BTC/USD 4HR chart from cnt_trading and it shows BTC’s price attempting a correction wave upward before further potential price action to the downside. Bullish traders are trying to again hold 0.00 [$40,616.5] and pivot to the upside.
Conversely, bearish bitcoin traders are attempting to break that fib level and send BTC’s price back to the $30k level.
The Fear and Greed Index is 23 Extreme Fear and is equal to Sunday’s reading.
Bitcoin’s Moving Averages: 20-Day [$47,329.22], 50-Day [$53,944.01], 100-Day [$52,618.55], 200-Day [$47,902.78], Year to Date [$44,181.50].
BTC’s 24 hour price range is $40,734-$42,702 and its 7 day price range is $40,655-$47,507. Bitcoin’s 52 week price range is $28,991-$69,044.
The price of bitcoin on this date last year was $38,397.
The average price of BTC for the last 30 days is $47,213.
Bitcoin [+0.41%] closed its daily candle worth $41,850 and in positive figures for a second straight day.
Ethereum Analysis
Ether’s price climbed a bit higher before it’s weekly candle closed and finished Sunday’s daily candle +$70.76.
YerwantKansabedian’s ETH/USD 1D chart below shows Ether bulls trying to hold 0.00% [$2,987.60]. The 38.20% fib level [$3,333.22] is currently acting as overhead resistance for bulls with a secondary target of the 50.00% fib level [$3,439.98].
Ether’s Moving Averages: 20-Day [$3,827.17], 50-Day [$4,174.60], 100-Day [$3,841.15], 200-Day [$3,205.88], Year to Date [$3,551.40].
ETH’s 24 hour price range is $3,018-$3,227 and its 7 day price range is $3,018-$3,895. Ether’s 52 week price range is $984.99-$4,878.26.
The price of ETH on this date in 2020 was $1,267.
The average price of ETH for the last 30 days is $3,820.
Ether [+2.3%] closed its daily candle on Sunday worth $3,150.42 and broke a streak of four straight daily candle closes in red figures.
Cosmos Analysis
ATOM’s price sold-off to lower prices for the third straight day on Sunday and finished its daily candle -$.85.
The COSMOS/USD 4HR chart below from Steve0verton illuminates the double-top that ATOM’s price action has formed. Bullish Cosmos traders have support at the $35 level and below that the $31.66 level.
Bearish COSMOS traders have a different perspective and are trying to break those levels and send ATOM’s price back down to start testing longer moving averages. Below the $31.66 level is the $26.58 level and lastly the $21.25 level before a potential trip back to the teens ultimately.
ATOM’s price is +436.3% against The U.S. Dollar for the last 12 months, +421.3% against BTC, and +110.9% against Ether over the same duration.
ATOM’s 24 hour price range is $34.54-$38.1 and its 7 day price range is $34.48-$43.98. ATOM’s 52 week price range is $5.04-$44.42.
The price of Cosmos on this date last year was $6.46.
The average price for ATOM over the last 30 days is $28.98.
Cosmos [-2.37%] closed its daily candle on Sunday valued at $34.99.
