Technical Analysis
Bitcoins opens at $48K and goes up to around $50K and stable around $48K ~ $49K. The average transaction fee is $18.62 which is 5.50% increase from 02-15-21. As I mentioned yesterday, Bitcoin retreat around $48K after touch $50K. If it stables around $47K ~ $48K, the next target is stable at $50K and hit $52K. The question is if Bitcoin will continue raising and be sustainable? My opinion is yes it will until more and more institutional buyers hype to buy. However, I also think the risk is high at this level.
I remain my floor price to $37K indicates the strong support and raise the ceiling price at $45K. $50K has reached again!
Bitcoin volatility is moving less volatile in yesterday. The market has reacted peak value at $50.5K but retreated to $48K which means the Bitcoin prepares for next milestone $52K soon if continue stabling around $50K.
Bitcoin decreases its correlation for Stock that it becomes a defense position ???. The price may fluctuate less in the coming day with price toward mid-level. There may have higher risks in the coming day as the greed level still high!
Bitcoin Value = $37k ~ $45k and my position is Long.
Here are some highlights to support my analysis:
Here is the road map for today:
Most Bullish News ??
Bitcoin is rival to Gold
It indicates that Bitcoin gains more attraction from institutional buyers to hedge future.
Most Bearish News ??
Bitcoin institutional buyers are actually low
It indicates that Bitcoin may face correction later.
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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!
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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??
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??
Bitcoin Technical Analysis 02-05-21??
Bitcoin Technical Analysis 02-06-21??
Bitcoin Technical Analysis 02-07-21??
Bitcoin Technical Analysis 02-08-21??
Bitcoin Technical Analysis 02-09-21??
Bitcoin Technical Analysis 02-10-21??
Bitcoin Technical Analysis 02-11-21??
Bitcoin Technical Analysis 02-12-21??
Bitcoin Technical Analysis 02-13-21??
Bitcoin Technical Analysis 02-14-21??
Bitcoin Technical Analysis 02-15-21??
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??
Ethereum Technical Analysis 02-05-21??
Ethereum Technical Analysis 02-07-21??
Ethereum Technical Analysis 02-08-21??
Ethereum Technical Analysis 02-09-21??
Ethereum Technical Analysis 02-10-21??
Ethereum Technical Analysis 02-11-21??
Ethereum Technical Analysis 02-12-21??
Ethereum Technical Analysis 02-13-21??
Ethereum Technical Analysis 02-14-21??
Ethereum Technical Analysis 02-15-21??
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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????
Crytomarket Weekly Overview and Forecast 02-05-21 to 02-12-21????
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Risk forecast guideline:
Risk Averse means you can use as defense ???
Risk Seeking means you can use 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.