Technical Analysis
Let's take a look at some key metrics.
It opens at $36K and goes down to around $35K and stable around $35K ~ $37K. The average transaction fee is $15.56 which is 5.01% decrease from 01-15-21.
Bitcoin price is continue stabilizing around $35K ~ $37K.
As I mentioned yesterday that Bitcoin price will drop and it did drop to $35K.
Average transaction fee improves and I do not worry about the price as the Bitcoin is fairly stable!
I will raise my floor price to $35K as the price is stable and I will remain the ceiling price at $38K.
Bitcoin Value = $35k ~ $38k
Most Bullish News ??
It indicates that Bitcoin mining will improve further in the future to reduce transaction fees.
Most Bearish News ??
Bitcoin used for Capital Hill rioters
It indicates that Bitcoin may misused in the wrong purpose and security concerns in the future.
Here are summary of general forecast of upcoming week of economy and market:
Thanks for reading and see you next week!
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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??
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??
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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.
