Bitcoin Technical Analysis 02-09-21

By xuanling11 | Crypto Learning | 10 Feb 2021


Technical Analysis

Bitcoins opens at $47K and goes up to around $48K and stable around $44K ~ $45K. The average transaction fee is $18.8 which is 63.19% increase from 02-08-21. As I mentioned yesterday, Bitcoin reached $48K almost and ATH again, then retreat around $44K. If it stables around $44K ~ $45K, the next target is $50K.

I remain my floor price to $37K indicates the strong support and remain the ceiling price at $40K. It broke the downward trend and starts new upward trend. $50K may come soon!

Bitcoin volatility is moving volatile in yesterday. The market has reacted peak value at $48K but sell off instantly which means the Bitcoin prepares for next milestone $50K.

Bitcoin increases its correlation for Dollar that it becomes a neutral position πŸ‘οΈ. The price may fluctuate more in the coming day with price toward mid-level. There may have higher risks in the coming day as the greed level has peaked!

Bitcoin Value =Β  $37k ~ $40k and my position is Long.

Here are some highlights to support my analysis:

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Here is the road map for today:

ec9af5a1d8e0f475257a14e433f194c588440db1f8aebecc1cd957532b10e152.png

Β 

14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News πŸ“ˆ

Bitcoin goes mainstream

It indicates that Bitcoin gains more attraction from institutional buyers.

Most Bearish News πŸ“‰

Politicians want to ban Bitcoin

It indicates that Bitcoin may hit by regulation.

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Here are summary of general forecast of this week of economy and market:


80d2ea03fb586d2fd138628eb99bf0757468df1a66e40b555558e2098a0d005f.png

669261adc0d3a11ac8f9ffebe3ae4a8cd613c2c35da4f833e63b427ebb76cf7f.png

893a5f1bf20990c72b5ac1ff130dfed604021aca01b7218d6c5e436906458d8b.png

Β 

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 01-07-21πŸ“ˆ
Bitcoin Technical Analysis 01-08-21πŸ“ˆ
Bitcoin Technical Analysis 01-09-21πŸ“‰
Bitcoin Technical Analysis 01-10-21πŸ“‰
Bitcoin Technical Analysis 01-11-21πŸ“‰
Bitcoin Technical Analysis 01-12-21πŸ“ˆ
Bitcoin Technical Analysis 01-13-21πŸ“‰
Bitcoin Technical Analysis 01-14-21πŸ“ˆ
Bitcoin Technical Analysis 01-15-21πŸ“‰
Bitcoin Technical Analysis 01-16-21πŸ“‰
Bitcoin Technical Analysis 01-17-21πŸ“‰
Bitcoin Technical Analysis 01-18-21πŸ“ˆ
Bitcoin Technical Analysis 01-19-21πŸ“ˆ
Bitcoin Technical Analysis 01-20-21πŸ“‰
Bitcoin Technical Analysis 01-21-21πŸ“‰
Bitcoin Technical Analysis 01-22-21πŸ“ˆ
Bitcoin Technical Analysis 01-23-21πŸ“‰
Bitcoin Technical Analysis 01-24-21πŸ“‰
Bitcoin Technical Analysis 01-25-21πŸ“ˆ
Bitcoin Technical Analysis 01-26-21πŸ“‰
Bitcoin Technical Analysis 01-27-21πŸ“‰
Bitcoin Technical Analysis 01-28-21πŸ“ˆ
Bitcoin Technical Analysis 01-29-21πŸ“ˆ
Bitcoin Technical Analysis 01-30-21πŸ“‰
Bitcoin Technical Analysis 01-31-21πŸ“‰
Bitcoin Technical Analysis 02-01-21πŸ“ˆ
Bitcoin Technical Analysis 02-02-21πŸ“ˆ
Bitcoin Technical Analysis 02-03-21πŸ“ˆ
Bitcoin Technical Analysis 02-04-21πŸ“‰
Bitcoin Technical Analysis 02-05-21πŸ“ˆ
Bitcoin Technical Analysis 02-06-21πŸ“‰
Bitcoin Technical Analysis 02-07-21πŸ“ˆ
Bitcoin Technical Analysis 02-08-21πŸ“ˆ
You can reference my Bitcoin methodology here and here.
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You can reference my previous Ethereum analysis here:
Ethereum Technical Analysis 01-07-21πŸ“ˆ
Ethereum Technical Analysis 01-08-21πŸ“‰
Ethereum Technical Analysis 01-09-21πŸ“ˆ
Ethereum Technical Analysis 01-10-21πŸ“‰
Ethereum Technical Analysis 01-11-21πŸ“‰
Ethereum Technical Analysis 01-12-21πŸ“ˆ
Ethereum Technical Analysis 01-13-21πŸ“‰
Ethereum Technical Analysis 01-14-21πŸ“ˆ
Ethereum Technical Analysis 01-15-21πŸ“‰
Ethereum Technical Analysis 01-16-21πŸ“ˆ
Ethereum Technical Analysis 01-17-21πŸ“‰
Ethereum Technical Analysis 01-18-21πŸ“ˆ
Ethereum Technical Analysis 01-19-21πŸ“ˆ
Ethereum Technical Analysis 01-20-21πŸ“‰
Ethereum Technical Analysis 01-21-21πŸ“‰
Ethereum Technical Analysis 01-22-21πŸ“ˆ
Ethereum Technical Analysis 01-23-21πŸ“ˆ
Ethereum Technical Analysis 01-24-21πŸ“ˆ
Ethereum Technical Analysis 01-25-21πŸ“ˆ
Ethereum Technical Analysis 01-26-21πŸ“‰
Ethereum Technical Analysis 01-27-21πŸ“‰
Ethereum Technical Analysis 01-28-21πŸ“ˆ
Ethereum Technical Analysis 01-29-21πŸ“ˆ
Ethereum Technical Analysis 01-30-21πŸ“ˆ
Ethereum Technical Analysis 01-31-21πŸ“‰
Ethereum Technical Analysis 02-01-21πŸ“ˆ
Ethereum Technical Analysis 02-02-21πŸ“ˆ
Ethereum Technical Analysis 02-03-21πŸ“ˆ
Ethereum Technical Analysis 02-04-21πŸ“‰
Ethereum Technical Analysis 02-05-21πŸ“ˆ
Ethereum Technical Analysis 02-07-21πŸ“ˆ
Ethereum Technical Analysis 02-08-21πŸ“ˆ
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You can reference my previous Dogecoin analysis here:
Doge Analysis 12-28-21πŸ“ˆ
Doge Analysis 01-01-21πŸ“ˆ
Doge Analysis 01-02-21πŸ“ˆ
Doge Analysis 01-11-21πŸ“‰
Doge Analysis 01-28-21πŸ“ˆ
Doge Analysis 02-04-21πŸ“ˆ
Doge Analysis 02-07-21πŸ“ˆ
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You can reference my previous Cryptomarket forecast analysis here:
Crytomarket Weekly Overview and Forecast 01-15-21 to 01-22-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21πŸ”₯πŸ”₯
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Risk forecast guideline:
Risk Averse means you can use as defense πŸ›‘οΈ
Risk Seeking means you can use as offense βš”οΈ
Risk Neutral means no decision made and continue seeking opportunities πŸ‘οΈ
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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
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