Bitcoin Analysis
Bitcoin’s price sprung off of the backtest of its structures breakout on the 2hr chart that was analyzed in yesterday’s article.
This backrest of the structure can also be seen below on the 4hr BTC chart.
The BTC / USD 4hr chart below from Muneeb00 shows that the important overhead resistance of $64k might be the only thing stopping BTC’s trip back to it’s all-time high of $67,276.
If BTC bulls can close above this level on the 4hr timescale and then the daily, that will bring strong market confirmation that bulls are certainly in charge of BTC’s price action.
For bears to get back some momentum and put up a fight, they’ll need to push BTC’s price back below $60k. If bears can succeed in breaking the $60k level, the next level is a major inflection level at $58k.
Bulls however, recently showed their strength at the $58k level. They carved out real support resistance at the $58k level last week for the first time in the asset’s history.
BTC’s 24 hour price range is $60,643-$64,248 and its 7 day price range is $58,501-$64,248. Bitcoin’s 52 week price range is $13,401-$67,276.
The price of bitcoin on this date last year was $14,101.
The average price of BTC for the last 30 days is $58,462.
Bitcoin [+3.81%] closed its daily candle worth $63,249 and in green figures on Tuesday breaking a prior streak of three straight daily candle closes in red figures.
Ethereum all time high
Ether’s price broke it’s all-time high again on Tuesday and is back in price discovery, at the time of writing.
The ETH / USD chart below from Am-ghahreman shows the potential that Ether is in the midst of a ‘B’ to ‘C’ wave that could cause ETH to markup considerably in price soon. At the peak of this wave on the chart below, Ether’s price corresponds with the $6,330 price level.
Traders will notice that ETH is attempting to flip $4,5k level to support resistance instead of overhead resistance on significant timescales now.
ETH’s 24 hour price range is $4,285-$4,530 and its 7 day price range is $3,944-$4,530. Ether’s 52 week price range is $380.83-$4,530.
The price of ETH on this date in 2020 was $387.62.
The average price of ETH for the last 30 days is $3,870.76.
Ether [+6.13%] closed its daily candle on Tuesday worth $4,585.74 and in green figures for the second straight day.
Solana ATH
Ether’s price wasn’t the only one that went parabolic on Tuesday, Solana also made a new all-time high and finished the day +$17.22.
The SOL / USD 1d chart below from TradeCentral_IN shows SOL carving out what looks to be an ascending triangle pattern. Solana’s price finished right at the top of the $220 level that coincides with the top of its structure on the chart.
Market participants may find out over the next 24 hours whether or not Solana is ready to markup again considerably.
Solana’s 24 hour price range is $201.28-$221.39 and its 7 day price range is $183.65-$221.39. SOL’s 52 week price range is $1.39-$221.39.
The price of Solana on this date last year was $1.39.
The average price of Solana for the last 30 days is $176.88.
Solana [+8.47%] closed its daily candle on Tuesday worth $220.67.
The post New all time high for Ethereum and Solana: BTC, ETH and SOL Price Analyses appeared first on The Cryptonomist.
