Technical Analysis
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.
As I mentioned yesterday, Bitcoin price is continuing 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 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.
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:
Bitcoin Value = $30k ~ $36k and my position is Long.
Weekly Bitcoin Performance:
A mentioned yesterday, the price action is downward trend and stable but I see the upward trend is coming in week.
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:
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:
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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🔥🔥
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.
