Bitcoin Technical Analysis 01-26-21

By xuanling11 | Crypto Learning | 26 Jan 2021


Technical Analysis

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Let's take a look at some key metrics.

It opens at $31K and goes up to around $34K and stable around $30K ~ $31K. The average transaction fee is $10.43 which is 40.57% increase from 01-25-21.

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As I mentioned yesterday, Bitcoin price is continuing side-way trading but fairly stable.

Crypto Fear & Greed Index

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I remain my floor price to $30K indicates the strong support and remain the ceiling price at $36K.

Bitcoin Risk Forecast:

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Bitcoin VIX will go down with relative stable Bond VIX and Gold VIX. Economic risk is reduced and Bitcoin may reverse its hedging status to preserve value position.

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Bitcoin increases its correlation with S&P indicates that it becomes a offense position ⚔️. The price may fluctuate less in the coming day with price toward mid-level. However, it was relatively stable.

Here is the position summary below:

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Bitcoin Value =  $30k ~ $36k and my position is Long.

Weekly Bitcoin Performance:

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A mentioned yesterday, the price action is downward trend and stable but I see the upward trend is coming in week.

 

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Most Bullish News 📈

Big endorsement funds secretly buying Bitcoin

It indicates that Bitcoin continue shortage and further legitimized in the future.

Most Bearish News 📉

SEC tightening the regulations

It indicates that Bitcoin price correction is coming due to regulatory screen.

 

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

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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📉

Bitcoin Technical Analysis 01-25-21📈

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📈

Ethereum Technical Analysis 01-25-21📈

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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 forecast 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🔥🔥

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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.

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xuanling11
xuanling11

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