Bitcoin Technical Analysis 02-01-21

By xuanling11 | Crypto Learning | 1 Feb 2021


Technical Analysis

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It opens at $33K and goes down to around $32K and stable around $33K ~ $34K. The average transaction fee is $11.35 which is 25.13% decrease from 01-31-21.

I remain my floor price to $30K indicates the strong support and lower the ceiling price at $35K.

Bitcoin volatility is moving slower in yesterday. It may indicate the market as the whole is waiting for news to react.

Bitcoin decreases its correlation for Gold but increases with stock volatility that it becomes a defense position 🛡️. The price may fluctuate less in the coming day with price toward lower-level. There may have some risks in the coming day.

Bitcoin Value =  $30k ~ $35k and my position is Long.

Here is the road map:

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Most Bullish News 📈

Institutional investor bullish on Bitcoin

It indicates that Bitcoin continue attracting institutional buyers. I like Cathie Wood Ark investment strategy and her forward thinking but I think her strategy is difficult to replicate and hard to know when re-balance is coming. However, I agree with her view on Bitcoin!

Most Bearish News 📉

Minors outflows with lack of profits

It indicates that Bitcoin transaction will impact and price may come to reduce.

 

If you want to support my work, you can click like bottom below and tip more of my works!

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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📉

Bitcoin Technical Analysis 01-27-21📉

Bitcoin Technical Analysis 01-28-21📈

Bitcoin Technical Analysis 01-29-21📈

Bitcoin Technical Analysis 01-30-21📉

Bitcoin Technical Analysis 01-31-21📉

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📉

Ethereum Technical Analysis 01-27-21📉

Ethereum Technical Analysis 01-28-21📈

Ethereum Technical Analysis 01-29-21📈

Ethereum Technical Analysis 01-30-21📈

Ethereum Technical Analysis 01-31-21📉

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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📉

Doge Analysis 01-28-21📈

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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🔥🔥

Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21🔥🔥
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Risk forecast guideline:


Risk Averse means you can use Ethereum as defense 🛡️

Risk Seeking means you can use Ethereum as offense ⚔️

Risk Neutral means no decision made and continue seeking opportunities 👁️
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Disclosure: 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.


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