Technical Analysis
Bitcoins opens at $56K and goes up to around $57K and stable around $53K ~ $54K. The average transaction fee is $17.91 which is 7.78% decrease from 03-10-21. As I mentioned yesterday, Bitcoin touches $57K. If it stables around $53K ~ $54K, the next target is stable at $55K and hit $58K. I think the All Time High at this level will likely. My calculation on its value is $62K at some point which indicates that Bitcoin may continue correction in coming week. You can reference my method here. Despite the correction, Bitcoin is back at $58K zone and head it to $62K. 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 less 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 and surprisingly the transaction fee has improved.
Bitcoin decreases its correlation for Dollar 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:
Here is the road map for today:
Most Bullish News 📈
It indicates that Bitcoin price will be stable with storing value.
Most Bearish News 📉
It indicates that Bitcoin may face correction due to the overpricing.
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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📉
Bitcoin Technical Analysis 03-04-21📈
Bitcoin Technical Analysis 03-05-21📉
Bitcoin Technical Analysis 03-06-21📈
Bitcoin Technical Analysis 03-07-21📈
Bitcoin Technical Analysis 03-08-21📈
Bitcoin Technical Analysis 03-09-21📈
Bitcoin Technical Analysis 03-10-21📈
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📉
Ethereum Technical Analysis 03-04-21📈
Ethereum Technical Analysis 03-05-21📉
Ethereum Technical Analysis 03-06-21📈
Ethereum Technical Analysis 03-07-21📈
Ethereum Technical Analysis 03-08-21📈
Ethereum Technical Analysis 03-09-21📈
Ethereum Technical Analysis 03-10-21📉
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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📈
💸💸 Get your free 🐶🐶 Dogecoin 🐶🐶 here 💵 and here 💵
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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🔥🔥
Crytomarket Weekly Overview and Forecast 03-05-21 to 03-12-21🔥🔥
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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.
