Bitcoin’s price action on Wednesday was very swinging until the afternoon session, when BTC rallied to the peak of this rally and ended the day at + $ 1,414.
The Fear and Greed Index And 70 Greed and it’s the same as Wednesday’s reading.
The BTC 1W (1 week) chart below from behbehani shows a large cup and handle potentially developing before our eyes.
If this model is adhered to and the structure realizes its upside potential, six-figure Bitcoin could become a reality.
Conversely, if the bears prevail and postpone the BTC price below $ 53k and then break the $ 50k level, BTC could confirm the end of its cycle.
Level di $ 57.8k it is a major downturn area and the bulls will want to confirm a close above this level as soon as possible to continue the upward momentum.
BTC’s 24-hour price range is $ 54,409- $ 57.872 and the 7-day price range is $ 53.701- $ 57.872. Bitcoin’s 52-week price range is $ 11,268- $ 64,804.
Bitcoin’s price on this date in 2020 was $ 11,426.
The 30-day average price of BTC is $ 48,426.
The close of the daily candle on Wednesday for Bitcoin [+2.53%] was 57,381 dollars and BTC has completed the daily green candle for 9 of the last 11 days.
The price of Ether is trading in a very tight range now and has completed its daily candle at + $ 118.
ETH’s 1D (1 day) chart below of Fdz23 shows that Ether has finally broken up on the daily time scale of a long-term structure. Wednesday, Ether tested the $ 3.5k level as support resistance and could point to $ 4.3k.
The Ether bears on the other hand are trying to thwart the work of the Ether bulls and postpone the price below $ 3.5k and eventually the $ 3k level. If the bears win, it could be a return trip to the $ 2.7- $ 2.8k level in the coming weeks.
The 24-hour ETH price range is $ 3,427- $ 3,616 and the 7-day price range is $ 3,426- $ 3,668. Ether’s 52-week price range is $ 365.41- $ 4,356.99.
The price of Ether on this date last year was $ 379.21.
The average price of ETH over the past 30 days is $ 3,297.76.
Ether [+3,39%] closed the daily candle on Wednesday valued at $ 3,607 and in green. Ether has alternated between green and red daily candle closings over the past week.
Avalanche’s price seems to have found support at $ 50 level after decreasing by 34.76% since its ATH on September 23 to its low this week of $ 51.74.
The 1D AVAX chart below from SorooshSchool highlights the upside only to return to the top of the trend for Avalanche.
The AVAX bulls are hoping that the bottom has been confirmed and that the price is ready to head for higher levels.
The Avalanche bears are hoping they can crack the $ 52 level to the downside and finally send the price back to the $ 39.50 level which is the next support resistance for the bulls if they lose the $ 50 level.
AVAX’s 24-hour price range is $ 53.58- $ 56.83 and the 7-day price range is $ 51.74- $ 64.35. Avalanche’s 52-week price range is $ 2.82- $ 79.31.
AVAX’s price on this date last year was $ 4.15.
The average price of Avalanche per unit over the past 30 days is $ 63.68.
AVAX [+1.23%] closed the daily candle on Wednesday with a value of 54.97 dollars and in green figures after closing the previous three days in red figures.