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Fun fact: Did you know that I purposely chose thumbnail image color to reflect each daily sentiment of the crypto market?
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Technical Analysis
Bitcoins opens at $37K and goes down to around $36K and stable around $36K ~ $37K. The average transaction fee is $14.80 which is 3.50% increase from 02-03-21. I think there are more room for Bitcoin to go up!
I remain my floor price to $32K indicates the strong support and remain the ceiling price at $36K.
Bitcoin volatility is moving slower in yesterday. The market has reacted peak value at $38K but sell off instantly which means the Bitcoin yet has not confident to reach $40K. Market is pending for further information to improve its valuation.
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 mid-level. There may have some risks in the coming day.
Bitcoin Value = $32k ~ $36k and my position is Long.
Here are charts to support my analysis:
Here is the road map for today:
Most Bullish News 📈
Bitcoin successful detaches itself from US dollar
It indicates that a good sign Bitcoin valuation becomes more independent.
Most Bearish News 📉
Merging from traditional finance and DeFi
It indicates that regulatory enforcement may prevent volatility and put ceiling on valuation in long term.
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Here are summary of general forecast of this week of economy and market:
If you want to support my works, you can click like bottom below and tip more! Great Thanks!
Also, if you have any suggestions, please do not hesitate to let me know!
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📉
Bitcoin Technical Analysis 02-01-21📈
Bitcoin Technical Analysis 02-02-21📈
Bitcoin Technical Analysis 02-03-21📈
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📉
Ethereum Technical Analysis 02-01-21📈
Ethereum Technical Analysis 02-02-21📈
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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.
