Bitcoin, new all-time high
Bitcoin’s price action on Wednesday was historic – BTC broke its ATH from April 14th of $64,804 and made a session high on Wednesday of $67,276.
After breaking a long term trendline at $55k and then breaking a lot of overheard resistance at $57k, the remaining supply between $60k-$64,804 was absorbed by bulls and the price went to record levels one day after bitcoin Futures ETFs went live.
The 1D BTC / USD chart below from CryptocurrencyMagnet emphasizes two major targets now overhead for bullish traders. The primary target on the daily timescale is $74,647 with a secondary target of $87,122.
Bears are certainly now on the defensive and will want to stall BTC’s momentum soon or those targets overhead could be reached over time. For bears to regain any momentum they need to send the price back below its former all-time high of $64,804 and close the weekly time frame below that figure.
If bears manage to push BTC’s price below that level for a close on a significant time frame then the next level is $60k and then the $57,125 level.
A $100,000 bitcoin price is now just a difference of 48.64% from its all-time high.
The Fear and Greed Index is 84 Extreme Greed and 2 from Wednesday’s reading of 82 Extreme Greed.
BTC’s 24 hour range is $63,548-$67,276 and its 7 day range is $57,252-$67,276. Bitcoin’s 52 week range is $11,925-$67,276.
Bitcoin’s price on this date last year was $12,951.
The average BTC price over the last 30 days is $51,342.
Bitcoin [ 2.73%] closed Wednesday’s daily candle worth $65,988 and in green figures for the fourth straight day.
Ether’s price finally busted out after weeks of consolidation in a tight range and could be primed for further upside before the week’s daily candle closes on Sunday at 12:00 UTC.
The 4hr ETH / USD chart below from Signal_Centre1 shows Ether’s broken out of it’s descending wedge to the upside and now has primary targets of $4,218 and $4,278 before it can test its all-time high $4,352.11.
Ether’s 24 hour price range is $3,833-$4,154 and its 7 day price range is $3,605-$4,154. ETH’s 52 week price range is $368.56-$4,352.11.
The price of Ether on this date last year was $413.20.
The average ETH price for the last 30 days is $3,385.39.
Ether [ 7.31%] closed its daily candle on Wednesday worth $4,160 and in green figures for the second straight day.
FTT’s back above $60 and bulls are back in possession of the ball. FTT bulls are currently shifting momentum back to the upside of FTT’s chart, at the time of writing.
The 1D FTX / USD chart below from go8686 shows FTT’s price on Wednesday closed right at a major level of inflection [$61.61].
It could be a quick trip back above $70 and eventually to FTT’s primary target of $81.65. If FTT can get a daily candle close and then weekly close above the $61.61 level this scenario could be forthcoming.
Bears will hope they can manage to keep FTT’s price below this inflection level and eventually back to the low $50 level to break the currently prevailing bullish momentum.
FTT’s 24 hour price range is $56.39-$62.89 and its 7 day price range is $54.21-$62.89. FTT’s 52 week price range is $3.33-$84.74.
FTT’s price on this date last year was $3.88.
The average FTT price for the last 30 days is $55.22.
FTT’s [ 7.59%] daily candle closed on Wednesday worth $61.39.
The post Bitcoin hits a new all-time high: BTC, Ethereum, FTT [FTX] price analysis appeared first on The Cryptonomist.