Bitcoin Technical Analysis 02-04-21

By xuanling11 | Crypto Learning | 4 Feb 2021


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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:

4112e0f9e7592db7d07d6d51815343aa65a75dfc702d9871c550e27f35da71af.png550908135cd8e8a4f1d89e171328b0d1810bc5783d8d10e0ee57254c9ba5ea1d.png8cade52a82d2b04390c8d0120b5fcd83807d2c10ea1c441a8be45a89356c1d0a.pngddb6d038a3db15c04d58f65c32a7674500a267f3bd92d07948724235a54565a6.png09b75b72813ec4a02e2b1530025d18b2327a774454c8615c720cef693332a4c3.png44e1627029486205239ff35e6d3a4f09d59f529cb9246db9c50a79b27e1ec0cd.png2cc4fedcd1609fd37a6af1c9a5f535ece10b5f9e9fa9c24cc190157eea754b88.pngb0145fb23521684b62ac8cf8b4c838e1046b719518af90ba1ecf9544b891f7f1.pngf9e43e5675e2d2b668f6e5067b9f281609dd6d18196e5543188b7066523af403.pngb5017d970d2e7afa07f8cb30e074bde29d4eda1da0bdaebf255fd264488fc91a.png093de1ecb90a5e5ae9b3172466901f307f87ae4ca1b39ff3ce10cf20c37a9e4d.pngc9520c04d3b5babd2c15134ca7044fba71fd885d6665db568a5282ec6f94980c.png

Here is the road map for today:

bf87e1a1757479ecd8ece2fdb543f8c07a7e8ef69571583e915b6504c703cc3c.png

14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

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:


d69799e5c89078f2b20d9ef0b04cc6f3d614c810943613f37ccc79eb9d3d328d.png

4b1580ead9777d8df0e373d0eb61c55899eb42290a7f361eae7f406110c435e1.png

893a5f1bf20990c72b5ac1ff130dfed604021aca01b7218d6c5e436906458d8b.png

 

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

88f2df56c92a6afe62d3fe71d10e985e95fdb8d79b62b4ef65dffa1d6a0368b7.png

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.

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xuanling11
xuanling11

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