Bitcoin Technical Analysis 03-03-21

By xuanling11 | Crypto Learning | 3 Mar 2021


Technical Analysis

Bitcoins opens at $48K and goes down to around $47K and stable around $47K ~ $48K. The average transaction fee is $18.58 which is 25.12% increase from 03-02-21. As I mentioned yesterday, Bitcoin touches $52K. If it stables around $50K ~ $51K, the next target is stable at $52K and hit $55K. I think the correction at this level will continue. My calculation on its value is $50K at some point which indicates that Bitcoin may continue correction in coming week with lower fear index. You can reference my method here. Despite the correction, Bitcoin is back at $50K zone. Patience is the key!

I remain my floor price to $40K indicates the strong support and remain the ceiling price at $50K.

Bitcoin volatility is moving more volatile in yesterday. The market has reacted peak value at $58.6K but retreated to $43K which means the Bitcoin prepares for next milestone $60K at some time if continue stabling around $58K. It is fairly stable at this level around $47K. Volume of trading is still very health at this level.

Bitcoin decreases its correlation for VIX that it becomes a neutral position 👁️. The price may fluctuate more in the coming day with price toward mid-level. There may have medium risks in the coming day as the greed level goes down!

Bitcoin Value =  $40k ~ $50k and my position is Long.

Here are some highlights to support my analysis:

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Here is the road map for today:

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14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News 📈

Institution investors confirms Bitcoin status

It indicates that Bitcoin price will be stable.

Most Bearish News 📉

Cryto tax reform

It indicates that Bitcoin may face correction due to tax reform.

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Here are summary of general forecast of this week of economy and market:
260c3a65efbb46dcf114ce26ec32256f1558871f35b95a1d3b52f2a27d1c0cc1.png

085f6d2c9936e8d98dad42b5fffa2c329314b9b16257e9d0a480395cdf7b3aa1.png

Also, if you have any suggestions, please do not hesitate to let me know!

Thanks for reading and see you tomorrow!

893a5f1bf20990c72b5ac1ff130dfed604021aca01b7218d6c5e436906458d8b.png

 

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Note: Cross-references of this article has created by author and has cross-referenced on multiple platforms. You can find links below ⬇️⬇️:
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You can reference my previous monthly Bitcoin and Ethereum analysis here ⬇️⬇️:
💪💪 January 2021 Technical Analysis Summary 🚀🚀
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You can reference my previous daily Bitcoin analysis here ⬇️⬇️:
Bitcoin Technical Analysis 02-01-21📈
Bitcoin Technical Analysis 02-02-21📈
Bitcoin Technical Analysis 02-03-21📈
Bitcoin Technical Analysis 02-04-21📉
Bitcoin Technical Analysis 02-05-21📈
Bitcoin Technical Analysis 02-06-21📉
Bitcoin Technical Analysis 02-07-21📈
Bitcoin Technical Analysis 02-08-21📈
Bitcoin Technical Analysis 02-09-21📉
Bitcoin Technical Analysis 02-10-21📉
Bitcoin Technical Analysis 02-11-21📈
Bitcoin Technical Analysis 02-12-21📈
Bitcoin Technical Analysis 02-13-21📈
Bitcoin Technical Analysis 02-14-21📈
Bitcoin Technical Analysis 02-15-21📈
Bitcoin Technical Analysis 02-16-21📈
Bitcoin Technical Analysis 02-17-21📈
Bitcoin Technical Analysis 02-18-21📈
Bitcoin Technical Analysis 02-19-21📈
Bitcoin Technical Analysis 02-20-21📈
Bitcoin Technical Analysis 02-21-21📉
Bitcoin Technical Analysis 02-22-21📉
Bitcoin Technical Analysis 02-23-21📉
Bitcoin Technical Analysis 02-24-21📉
Bitcoin Technical Analysis 02-25-21📉
Bitcoin Technical Analysis 02-26-21📉
Bitcoin Technical Analysis 02-27-21📉
Bitcoin Technical Analysis 02-28-21📉
Bitcoin Technical Analysis 03-01-21📈
Bitcoin Technical Analysis 03-02-21📈
You can reference my Bitcoin methodology here and here.
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You can reference my previous daily Ethereum analysis here ⬇️⬇️:
Ethereum Technical Analysis 02-01-21📈
Ethereum Technical Analysis 02-02-21📈
Ethereum Technical Analysis 02-03-21📈
Ethereum Technical Analysis 02-04-21📉
Ethereum Technical Analysis 02-05-21📈
Ethereum Technical Analysis 02-07-21📈
Ethereum Technical Analysis 02-08-21📈
Ethereum Technical Analysis 02-09-21📉
Ethereum Technical Analysis 02-10-21📉
Ethereum Technical Analysis 02-11-21📈
Ethereum Technical Analysis 02-12-21📈
Ethereum Technical Analysis 02-13-21📈
Ethereum Technical Analysis 02-14-21📈
Ethereum Technical Analysis 02-15-21📉
Ethereum Technical Analysis 02-16-21📈
Ethereum Technical Analysis 02-17-21📈
Ethereum Technical Analysis 02-18-21📈
Ethereum Technical Analysis 02-19-21📈
Ethereum Technical Analysis 02-20-21📈
Ethereum Technical Analysis 02-21-21📉
Ethereum Technical Analysis 02-22-21📉
Ethereum Technical Analysis 02-23-21📉
Ethereum Technical Analysis 02-24-21📉
Ethereum Technical Analysis 02-25-21📉
Ethereum Technical Analysis 02-26-21📉
Ethereum Technical Analysis 02-27-21📉
Ethereum Technical Analysis 02-28-21📉
Ethereum Technical Analysis 03-01-21📈
Ethereum Technical Analysis 03-02-21📈
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You can reference my previous daily 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📈
Doge Analysis 02-04-21📈
Doge Analysis 02-07-21📈
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You can reference my previous weekly Cryptomarket forecast analysis here ⬇️⬇️:
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21🔥🔥
Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-05-21 to 02-12-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-12-21 to 02-19-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-19-21 to 02-26-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-26-21 to 03-05-21🔥🔥
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Risk forecast guideline:
Risk Averse means you can use as defense 🛡️
Risk Seeking means you can use 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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