Technical Analysis
Bitcoins opens at $37K and goes down to around $36K and stable around $36K ~ $37K. The average transaction fee is $16.74 which is 13.11% increase from 02-04-21. I think Bitcoin tries to recover around $40K but it gets harder.
I raise my floor price to $33K indicates the strong support and remain the ceiling price at $36K.
Bitcoin volatility is moving slower in yesterday. The market has reacted peak value at $38K again but sell off instantly which means the Bitcoin yet has not confident to reach $40K. Market is pending for further information to improve its valuation.
Bitcoin decreases its correlation for Gold and stock that it becomes a offense position ??. The price may fluctuate less in the coming day with price toward mid-level. There may have some risks in the coming day.
Bitcoin Value = $33k ~ $36k and my position is Long.
Here are charts to support my analysis:
Here is the road map for today:
Most Bullish News ??
Bitcoin is better than gold
It indicates that Bitcoin gains more attraction to institutional investors.
Most Bearish News ??
Nigeria close customer accounts link to Bitcoin activity
It indicates that regulatory enforcement may prevent owning Bitcoin in certain countries.
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Here are summary of general forecast of this week of economy and market:
Also, if you have any suggestions, please do not hesitate to let me know!
Thanks for reading and see you tomorrow!
-------------------------------------------------------------------------------------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??
Bitcoin Technical Analysis 01-25-21??
Bitcoin Technical Analysis 01-26-21??
Bitcoin Technical Analysis 01-27-21??
Bitcoin Technical Analysis 01-28-21??
Bitcoin Technical Analysis 01-29-21??
Bitcoin Technical Analysis 01-30-21??
Bitcoin Technical Analysis 01-31-21??
Bitcoin Technical Analysis 02-01-21??
Bitcoin Technical Analysis 02-02-21??
Bitcoin Technical Analysis 02-03-21??
Bitcoin Technical Analysis 02-04-21??
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??
Ethereum Technical Analysis 01-25-21??
Ethereum Technical Analysis 01-26-21??
Ethereum Technical Analysis 01-27-21??
Ethereum Technical Analysis 01-28-21??
Ethereum Technical Analysis 01-29-21??
Ethereum Technical Analysis 01-30-21??
Ethereum Technical Analysis 01-31-21??
Ethereum Technical Analysis 02-01-21??
Ethereum Technical Analysis 02-02-21??
Ethereum Technical Analysis 02-03-21??
Ethereum Technical Analysis 02-04-21??
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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 forecast analysis here:
Crytomarket Weekly Overview and Forecast 01-15-21 to 01-22-21????
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21????
Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21????
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Risk forecast guideline:
Risk Averse means you can use Ethereum as defense ???
Risk Seeking means you can use Ethereum as offense ??
Risk Neutral means no decision made and continue seeking opportunities ???
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Disclosure: 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.
