Bitcoin just hit $50K in holiday seasons and market is slow with weak signals!
Technical Analysis
Bitcoins opens at $47K and goes up to around $50K and stable around $45K ~ $46K. The average transaction fee is $17.65 which is 11.84% decrease from 02-14-21. As I mentioned yesterday, Bitcoin retreat around $45K. If it stables around $45K ~ $46K, the next target is stable at $50K.
I remain my floor price to $37K indicates the strong support and remain the ceiling price at $44K. $50K has reached!
Bitcoin volatility is moving less volatile in yesterday. The market has reacted peak value at $48.9K but retreated to $47K which means the Bitcoin prepares for next milestone $50K soon.
Bitcoin decreases its correlation for Stock that it becomes a neutral 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 ~ $44k and my position is Long.
Here are some highlights to support my analysis:
Here is the road map for today:
Most Bullish News ??
Bitcoin was manipulated by Elon Musk
It indicates that Bitcoin gains more attraction from institutional buyers.
Most Bearish News ??
Bitcoin drops cause huge liquidations
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??
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??
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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.
