Bitcoin Technical Analysis 03-19-21

By xuanling11 | Crypto Learning | 19 Mar 2021


Technical Analysis

Bitcoins opens at $59K and goes down to around $56K and stable around $57K ~ $58K. The average transaction fee is $23.77 which is 10.82% increase from 03-18-21. As I mentioned yesterday, Bitcoin may touch $61K again. If it stables around $58K ~ $60K, the next target is stable at $61K and hit $62K.Β  All Time High has reached at $61K. My calculation on its value is $62K at some point which indicates that Bitcoin may continue correction in coming week with its strong support at $52K. You can reference my method here. Despite the correction, if Bitcoin is back at $61K 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 $61K but retreated to $54K 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 $52K. Volume of trading is still very health at this level and surprisingly the transaction fee has improved.

Bitcoin increases its correlation for Stock that it becomes a offense position βš”οΈ. 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 flat!

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

Here are some highlights to support my analysis:

2538b4996d5be5eeab857745899d02a3f67c945d330c34d58895c6c338737a3e.png80b14448d0f197cdefd1dffb43e72135e3631c0cf62b223c5b4e6bf30725815b.png

Here is the road map for today:

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14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News πŸ“ˆ

Japan lauched public mining pool

It indicates that Bitcoin price will be stable with strong supporting users.

Most Bearish News πŸ“‰

1 in 10 Americans used stimulus checks to invest in cryptos

It indicates that Bitcoin may face correction due to the government interference.

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Here are summary of general forecast of this week of economy and market:
71fae72bd50d09206749a095ae831aefa10f7a354af0fcfc1d7b6fef8f2dfd65.png

1009c9969798edb3b5eb6228d2d194a0049e44e834592df134426819a9e89b9f.png

Β 

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

Thanks for reading and see you tomorrow!

b318bdad571e4de7cfc20ee27ba4f1c718de9a3e8c1218637d9ed2a3121ad50b.png

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You can reference my previous monthly Bitcoin and Ethereum analysis here ⬇️⬇️:
πŸ’ͺπŸ’ͺ January 2021 Technical Analysis Summary πŸš€πŸš€
πŸ’ͺπŸ’ͺ February 2021 Technical Analysis Summary πŸš€πŸš€
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You can reference my previous daily Bitcoin analysis here ⬇️⬇️:
Bitcoin Technical Analysis 03-01-21πŸ“ˆ
Bitcoin Technical Analysis 03-02-21πŸ“ˆ
Bitcoin Technical Analysis 03-03-21πŸ“‰
Bitcoin Technical Analysis 03-04-21πŸ“ˆ
Bitcoin Technical Analysis 03-05-21πŸ“‰
Bitcoin Technical Analysis 03-06-21πŸ“ˆ
Bitcoin Technical Analysis 03-07-21πŸ“ˆ
Bitcoin Technical Analysis 03-08-21πŸ“ˆ
Bitcoin Technical Analysis 03-09-21πŸ“ˆ
Bitcoin Technical Analysis 03-10-21πŸ“ˆ
Bitcoin Technical Analysis 03-11-21πŸ“ˆ
Bitcoin Technical Analysis 03-12-21πŸ“ˆ
Bitcoin Technical Analysis 03-13-21πŸ“ˆ
Bitcoin Technical Analysis 03-14-21πŸ“‰
Bitcoin Technical Analysis 03-15-21πŸ“‰
Bitcoin Technical Analysis 03-16-21πŸ“ˆ
Bitcoin Technical Analysis 03-17-21πŸ“ˆ
Bitcoin Technical Analysis 03-18-21πŸ“‰
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 03-01-21πŸ“ˆ
Ethereum Technical Analysis 03-02-21πŸ“ˆ
Ethereum Technical Analysis 03-03-21πŸ“‰
Ethereum Technical Analysis 03-04-21πŸ“ˆ
Ethereum Technical Analysis 03-05-21πŸ“‰
Ethereum Technical Analysis 03-06-21πŸ“ˆ
Ethereum Technical Analysis 03-07-21πŸ“ˆ
Ethereum Technical Analysis 03-08-21πŸ“ˆ
Ethereum Technical Analysis 03-09-21πŸ“ˆ
Ethereum Technical Analysis 03-10-21πŸ“‰
Ethereum Technical Analysis 03-11-21πŸ“ˆ
Ethereum Technical Analysis 03-12-21πŸ“ˆ
Ethereum Technical Analysis 03-13-21πŸ“ˆ
Ethereum Technical Analysis 03-14-21πŸ“‰
Ethereum Technical Analysis 03-15-21πŸ“‰
Ethereum Technical Analysis 03-16-21πŸ“ˆ
Ethereum Technical Analysis 03-17-21πŸ“ˆ
Ethereum Technical Analysis 03-18-21πŸ“‰
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You can reference my previous daily 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 weekly Cryptomarket forecast analysis here ⬇️⬇️:
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”₯
Crytomarket Weekly Overview and Forecast 02-05-21 to 02-12-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 02-12-21 to 02-19-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 02-19-21 to 02-26-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 02-26-21 to 03-05-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 03-05-21 to 03-12-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 03-12-21 to 03-19-21πŸ”₯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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