Bitcoin Technical Analysis 01-27-21

By xuanling11 | Crypto Learning | 27 Jan 2021


Technical Analysis

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Let's take a look at some key metrics.

It opens at $32K and goes down to around $29K and stable around $30K ~ $31K. The average transaction fee is $7.99 which is 23.39% decrease from 01-26-21.

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As I mentioned yesterday, Bitcoin price is continuing side-way trading and trade a bit lower.

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 goes up with Bond VIX goes up and Gold VIX goes up. Economic risk is increased and Bitcoin continue its hedging status to preserve value position.

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Bitcoin increases its correlation with Gold 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.

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Bitcoin transaction fee is stable.7a7480c8a87494d6a4dd797520dd2dee9448851f84e0ea806af21c7e802b1c7f.png

However, the incentive has reduced significantly. I may worry that the price may continue lowering due to lack of incentives and speed of transaction will slower.

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 📈

Bitcoin with its digital gold status continue raising attention

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

Most Bearish News 📉

Bitcoin scams continue

It indicates that Bitcoin price correction is coming due to regulatory screening and government enforcement.

 

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📈

Bitcoin Technical Analysis 01-26-21📉

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📈

Ethereum Technical Analysis 01-26-21📉

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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 24 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

A delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters to write with a freestyle.


Crypto Learning
Crypto Learning

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