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Announcement: I add new section on the Bitcoin Technical Analysis for its risk forecast.
Risk Averse means you can use Bitcoin as defense 🛡️
Risk Seeking means you can use Bitcoin as offense ⚔️
Risk Neutral means no decision made and continue seeking opportunities 👁️
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Technical Analysis
Let's take a look at some key metrics.
It opens at $31K and goes up to around $34K and stable around $32K ~ $33K. The average transaction fee is $7.2 which is 4.13% decrease from 01-24-21.
As I mentioned yesterday, Bitcoin price is side-way trading but fairly stable.
Crypto Fear & Greed Index
I remain my floor price to $30K indicates the strong support and remain the ceiling price at $36K.
Bitcoin Risk Forecast:
Bitcoin reduces its correlation with S&P indicates that it becomes a defense position 🛡️. The price may fluctuate more in the coming day with price toward lower level. However, it was relatively stable.
Here is the summary below:
Bitcoin Value = $30k ~ $36k and my position is Long.
Weekly Bitcoin Performance:
A mentioned yesterday, the price action is downward trend but I see the upward trend is coming in week.
Most Bullish News 📈
Big corporation continues buying Bitcoin
It indicates that Bitcoin continue shortage and further legitimized in the future.
Most Bearish News 📉
It indicates that Bitcoin price correction is 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📈
Bitcoin Technical Analysis 01-20-21📉
Bitcoin Technical Analysis 01-21-21📉
Bitcoin Technical Analysis 01-22-21📈
Bitcoin Technical Analysis 01-23-21📉
Bitcoin Technical Analysis 01-24-21📉
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📉
Ethereum Technical Analysis 01-21-21📉
Ethereum Technical Analysis 01-22-21📈
Ethereum Technical Analysis 01-23-21📈
Ethereum Technical Analysis 01-24-21📈
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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 and Forecast 01-15-21 to 01-22-21🔥🔥
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21🔥🔥
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.
