Technical Analysis
Let's take a look at some key metrics.
It opens at $34K and goes down to around $34K and stable around $34K ~ $37K. The average transaction fee is $15.97 which is 2.5% decrease from 01-13-21.
Bitcoin price is continue stabilizing around $36K ~ $40K.
It approaching to overbought zone again but I think it will be alright and move around the range.
Average transaction fee improves a little and transaction within a day decrease a little.
After all, $29k ~$30k is strong support and I raise floor to $35K and ceiling price to $41k due to upcoming Joe Biden inauguration with uncertainty in the short term.
Bitcoin Value = $35k ~ $41k
Most Bullish News 📈
US Dollar continue devaluating due to another stimulus plan
It indicates that US will choose print out of trouble rather than grow out of trouble strategy in short term.
Most Bearish News 📉
Bitcoin system may have a flaw that you coins may will be lost in somewhere
It indicates that Bitcoin system still having room to improve.
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📉
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.
