Bitcoin Analysis
Bitcoin’s price alternated between green and red candles over the weekend and when Sunday’s session was etched in the history books, BTC’s price was -$35.6.
The BTC/USD 4HR chart below from LevRidge is the opening chart for our price analyses this Monday. At the time of writing, BTC’s price is trading between the 0.618 fibonacci level [$16,594.3] and the 0.55 fib level [$16,789.9].
The overhead targets on Bitcoin are 0.55, 0.382 [$17,273.2], 0.21 [$17,767.9] and a full retracement at 0 [$18,372.0] on the 4HR time frame.
Bearish BTC traders are conversely trying to push BTC’s price beneath the 0.618 fib level again followed by targets of 0.724 [16,289.4], 0.786 [$16,111.1], 0.886 [$15,823.5], 1 [$15,495.5] and the 1.13 fib level [$15,121.6].
BTC/USD 4HR chart: the price is trading between the 0.618 fibonacci level [$16,594.3] and the 0.55 fib level [$16,789.9]The Fear and Greed Index is 29 Fear and is +3 from yesterday’s reading of 26 Fear.
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