Technical Analysis
Let's take a look at some key metrics.
It opens at $36K and goes up to around $37K and stable around $33K ~ $34K. The average transaction fee is $10.89 which is 9.56% increase from 01-19-21.
Bitcoin price is trading sideways.
Average transaction fee increase and trading volume increase as well. However, the price did not increase which indicates some correction is coming.
Crypto Fear & Greed Index
As I mentioned yesterday, Bitcoin price was trading side way and there maybe another correction coming due to high transaction fees.
I revise my floor price to $33K indicates the support and remain the ceiling price at $40K.
Bitcoin Value = $35k ~ $40k and my position is Neutral.
Here is the summary below:
Most Bullish News ??
SCE cannot prosecute an algorithm
It indicates that Bitcoin status is continue legitimizing.
Most Bearish News ??
Bitcoin was labeled bubble by Bank of America
It indicates that Bitcoin may have some correction coming.
Here are summary of general forecast of this week of economy and market:
Thanks for reading and see you tomorrow!
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You can reference my previous Bitcoin analysis here:
Bitcoin Technical Analysis 01-07-21??
Bitcoin Technical Analysis 01-08-21??
Bitcoin Technical Analysis 01-09-21??
Bitcoin Technical Analysis 01-10-21??
Bitcoin Technical Analysis 01-11-21??
Bitcoin Technical Analysis 01-12-21??
Bitcoin Technical Analysis 01-13-21??
Bitcoin Technical Analysis 01-14-21??
Bitcoin Technical Analysis 01-15-21??
Bitcoin Technical Analysis 01-16-21??
Bitcoin Technical Analysis 01-17-21??
Bitcoin Technical Analysis 01-18-21??
Bitcoin Technical Analysis 01-19-21??
You can reference my Bitcoin methodology here and here.
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You can reference my previous Ethereum analysis here:
Ethereum Technical Analysis 01-07-21??
Ethereum Technical Analysis 01-08-21??
Ethereum Technical Analysis 01-09-21??
Ethereum Technical Analysis 01-10-21??
Ethereum Technical Analysis 01-11-21??
Ethereum Technical Analysis 01-12-21??
Ethereum Technical Analysis 01-13-21??
Ethereum Technical Analysis 01-14-21??
Ethereum Technical Analysis 01-15-21??
Ethereum Technical Analysis 01-16-21??
Ethereum Technical Analysis 01-17-21??
Ethereum Technical Analysis 01-18-21??
Ethereum Technical Analysis 01-19-21??
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You can reference my previous Dogecoin analysis here:
Doge Analysis 01-11-21??
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You can reference my previous Cryptomarket analysis here:
Crytomarket Weekly Overview 1-8-21 to 1-15-21????
Disclosure: I/we have no positions in any cryptocurrencies mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrencies are mentioned in this article. This information is only for educational purposes.
