Technical Analysis
Let's take a look at some key metrics.
It opens at $38K and goes down to around $34K and stable around $34K ~ $36K. The average transaction fee is $16.38 which is 2.57% increase from 01-14-21.
Bitcoin price is continue stabilizing around $33K ~ $36K.
As I mentioned yesterday that Bitcoin price will drop and it did drop to $34K.
Average transaction fee increase a little and transaction volume within a day increase a little.
Bitcoin is fairly stable as my surprise!
Bitcoin Value = $33k ~ $38k
Most Bullish News ??
Bitcoin continue hedging risks of future
It indicates that Bitcoin is a good tool to hedge future risks.
Most Bearish News ??
Bitcoin system may still inefficient
It indicates that Bitcoin system still having room to improve their blockchain transaction costs.
Thanks for reading and see you tomorrow!
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You can reference my previous 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??
You can reference my methodology here and here.
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.