Technical Analysis
Bitcoins opens at $51K and goes down to around $47K and stable around $47K ~ $48K. The average transaction fee is $20.35 which is 9.53% increase from 03-03-21. 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 increases its correlation for VIX that it becomes a offense 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 up!
Bitcoin Value = $40k ~ $50k and my position is Long.
Here are some highlights to support my analysis:
Here is the road map for today:
Most Bullish News 📈
MBA accepted crypto currencies payments
It indicates that Bitcoin price will be stable.
Most Bearish News 📉
Long road of crypto adoption from gaming industry
It indicates that Bitcoin may face correction due slow adoption.
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Here are summary of general forecast of this week of economy and market:
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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Note: Cross-references of this article has created by author and has cross-referenced on multiple platforms. You can find links below ⬇️⬇️:
Should you have any questions or concerns, please reach out to me 👋.
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You can reference my previous monthly Bitcoin and Ethereum analysis here ⬇️⬇️:
💪💪 January 2021 Technical Analysis Summary 🚀🚀
💪💪 February 2021 Technical Analysis Summary 🚀🚀
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You can reference my previous daily Bitcoin analysis here ⬇️⬇️:
Bitcoin Technical Analysis 03-01-21📈
Bitcoin Technical Analysis 03-02-21📈
Bitcoin Technical Analysis 03-03-21📉
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 03-01-21📈
Ethereum Technical Analysis 03-02-21📈
Ethereum Technical Analysis 03-03-21📉
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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.
