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Announcement: I add new section on the Bitcoin Technical Analysis for its risk forecast.
Risk Averse means you can use Bitcoin as defense ???
Risk Seeking means you can use Bitcoin as offense ??
Risk Neutral means no decision made and continue seeking opportunities ???
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Technical Analysis
Let's take a look at some key metrics.
It opens at $31K and goes up to around $34K and stable around $32K ~ $33K. The average transaction fee is $7.2 which is 4.13% decrease from 01-24-21.
As I mentioned yesterday, Bitcoin price is side-way trading but fairly stable.
Crypto Fear & Greed Index
I remain my floor price to $30K indicates the strong support and remain the ceiling price at $36K.
Bitcoin Risk Forecast:
Bitcoin reduces its correlation with S&P indicates that it becomes a defense position ???. The price may fluctuate more in the coming day with price toward lower level. However, it was relatively stable.
Here is the summary below:
Bitcoin Value = $30k ~ $36k and my position is Long.
Weekly Bitcoin Performance:
A mentioned yesterday, the price action is downward trend but I see the upward trend is coming in week.
Most Bullish News ??
Big corporation continues buying Bitcoin
It indicates that Bitcoin continue shortage and further legitimized in the future.
Most Bearish News ??
It indicates that Bitcoin price correction is 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??
Bitcoin Technical Analysis 01-20-21??
Bitcoin Technical Analysis 01-21-21??
Bitcoin Technical Analysis 01-22-21??
Bitcoin Technical Analysis 01-23-21??
Bitcoin Technical Analysis 01-24-21??
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??
Ethereum Technical Analysis 01-20-21??
Ethereum Technical Analysis 01-21-21??
Ethereum Technical Analysis 01-22-21??
Ethereum Technical Analysis 01-23-21??
Ethereum Technical Analysis 01-24-21??
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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????
Crytomarket Weekly Overview 1-15-21 to 1-22-21????
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.
