Technical Analysis
Let's take a look at some key metrics.
It opens at $34K and goes down to around $32K and stable around $33K ~ $34K. The average transaction fee is $16.38 which is 12.7% increase from 01-12-21.
Bitcoin price is continue stabilizing around $33K ~ $36K.
I think Bitcoin value is stable that indicate market is watching how economic will improve or deteriorate in short term after Joe Biden inauguration.
After all, $29k ~$30k is strong support and I remain ceiling price to $38k due to continue recovering of US economic.
Bitcoin Value = $30k ~ $38k
Most Bullish News 📈
It indicates that Bitcoin legitimate status continue improving within Institutional trading communities.
Most Bearish News 📉
Regulation tighten in Bitcoin globally
It indicates that Bitcoin value may not to justify in long term.
Thanks for reading and see you tomorrow!
-------------------------------------------------------------------------------------
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📈
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.
