Technical Analysis
Let's take a look at some key metrics.
It opens at $35K and goes up to around $35K and stable around $30K ~ $31K. The average transaction fee is $10.72 which is 1.56% decrease from 01-20-21.
As I mentioned yesterday, Bitcoin price was trading sideways and correction was coming.
As the Bitcoin drops, we want to exam if the transaction fee was efficient.
It turns out is pretty OK!
Crypto Fear & Greed Index
I revise my floor price to $29K indicates the strong support and revise the ceiling price at $36K.
Bitcoin Value = $29k ~ $36k and my position is Long.
Here is the summary below:
Weekly Bitcoin Performance:
Although the price was dropped and started to conversion, I think the price will raise in the coming weekend.
Most Bullish News 📈
Bitcoin continue mainstreaming
It indicates that Bitcoin status is continue legitimizing.
Most Bearish News 📉
Bitcoin price was retreated from the top
It indicates that Bitcoin may have some correction continue.
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📈
Bitcoin Technical Analysis 01-20-21📉
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📉
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You can reference my previous Dogecoin analysis here:
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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.
