Technical Analysis

Let's take a look at some key metrics.

It opens at $36K and goes up to around $37K and stable around $33K ~ $34K. The average transaction fee is $10.89 which is 9.56% increase from 01-19-21.

Bitcoin price is trading sideways.

Average transaction fee increase and trading volume increase as well. However, the price did not increase which indicates some correction is coming.

Crypto Fear & Greed Index

As I mentioned yesterday, Bitcoin price was trading side way and there maybe another correction coming due to high transaction fees.

I revise my floor price to $33K indicates the support and remain the ceiling price at $40K.

Bitcoin Value =  $33k ~ $40k and my position is Neutral.

Here is the summary below:

 

 

 

Most Bullish News 📈

SCE cannot prosecute an algorithm

It indicates that Bitcoin status is continue legitimizing.

Most Bearish News 📉

Bitcoin was labeled bubble by Bank of America

It indicates that Bitcoin may have some correction coming.

 

Here are summary of general forecast of this week of economy and market:

 

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📈

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📈

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You can reference my previous Dogecoin analysis here:

Doge Analysis 12-28-21📈

Doge Analysis 01-01-21📈

Doge Analysis 01-02-21📈

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.