Bitcoin Technical Analysis 05-13-21

By xuanling11 | Crypto Learning | 14 May 2021


Technical Analysis

Bitcoins opens at $52K and goes down to around $46K and stable around $50K ~ $51K. The average transaction fee is $13.05 which is 12.24% decrease from 05-12-21. As I mentioned yesterday, Bitcoin drops around $53K since All Time High has reached at $64K. My calculation on its value is $65K at some point which indicates that Bitcoin may continue correction in coming week with its strong support at $48K. If it stables around $61K ~ $62K, the next target is stable at $64K and hit $65K. You can reference my method here.Β 

I remain my floor price to $50K indicates the strong support and remain the ceiling price at $60K.

Bitcoin volatility is moving less volatile in yesterday. The market has reacted peak value at $61K but retreated to $53K 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.

As Elon Musk claimed Bitcoin energy inefficiency, it dropped at $46K. The correction most likely continue and price is sideways until price recover later.

Bitcoin decreases its correlation for S&P that it becomes a neutral position πŸ‘οΈ. The price may fluctuate more in the coming day since Bitcoin VIX is low. There may have medium risks in the coming day as the greed level goes down!

Bitcoin Value =Β  $50k ~ $60k and my position is Long.

Here are some highlights to support my analysis:

990a74b42d7d4766fa3f080380af35cef5af9d1f809bcbea2c2b22cea87fe706.png

Current News Summary:

14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News πŸ“ˆ

Microstrategy buys more Bitcoin

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

Most Bearish News πŸ“‰

Tesla suspends Bitcoin payment

It indicates that Bitcoin may face correction due to pump and dump.

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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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Β 
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You can reference my previous monthly Bitcoin and Ethereum analysis here ⬇️⬇️:
Note:some links refer at the beginning of next month that include all previous month links of reports
πŸ’ͺπŸ’ͺ January 2021 Technical Analysis Summary πŸš€πŸš€
πŸ’ͺπŸ’ͺ February 2021 Technical Analysis Summary πŸš€πŸš€
πŸ’ͺπŸ’ͺ March 2021 Technical Analysis Summary πŸš€πŸš€
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You can reference my previous daily Bitcoin analysis here ⬇️⬇️:
Bitcoin Technical Analysis 04-01-21πŸ“‰
Bitcoin Technical Analysis 04-02-21πŸ“‰
Bitcoin Technical Analysis 04-03-21πŸ“‰
Bitcoin Technical Analysis 04-04-21πŸ“‰
Bitcoin Technical Analysis 04-05-21πŸ“‰
Bitcoin Technical Analysis 04-06-21πŸ“‰
Bitcoin Technical Analysis 04-07-21πŸ“ˆ
Bitcoin Technical Analysis 04-08-21πŸ“ˆ
Bitcoin Technical Analysis 04-09-21πŸ“ˆ
Bitcoin Technical Analysis 04-10-21πŸ“‰
Bitcoin Technical Analysis 04-11-21πŸ“ˆ
Bitcoin Technical Analysis 04-12-21πŸ“ˆ
Bitcoin Technical Analysis 04-13-21πŸ“ˆ
Bitcoin Technical Analysis 04-14-21πŸ“‰
Bitcoin Technical Analysis 04-15-21πŸ“‰
Bitcoin Technical Analysis 04-16-21πŸ“‰
Bitcoin Technical Analysis 04-17-21πŸ“‰
Bitcoin Technical Analysis 04-18-21πŸ“‰
Bitcoin Technical Analysis 04-19-21πŸ“‰
Bitcoin Technical Analysis 04-20-21πŸ“‰
Bitcoin Technical Analysis 04-21-21πŸ“‰
Bitcoin Technical Analysis 04-22-21πŸ“‰
Bitcoin Technical Analysis 04-23-21πŸ“‰
Bitcoin Technical Analysis 04-24-21πŸ“‰
Bitcoin Technical Analysis 04-25-21πŸ“ˆ
Bitcoin Technical Analysis 04-26-21πŸ“ˆ
Bitcoin Technical Analysis 04-27-21πŸ“ˆ
Bitcoin Technical Analysis 04-28-21πŸ“‰
Bitcoin Technical Analysis 04-29-21πŸ“ˆ
Bitcoin Technical Analysis 04-30-21πŸ“ˆ
Bitcoin Technical Analysis 05-01-21πŸ“‰
Bitcoin Technical Analysis 05-02-21πŸ“ˆ
Bitcoin Technical Analysis 05-03-21πŸ“‰
Bitcoin Technical Analysis 05-04-21πŸ“ˆ
Bitcoin Technical Analysis 05-05-21πŸ“‰
Bitcoin Technical Analysis 05-06-21πŸ“ˆ
Bitcoin Technical Analysis 05-07-21πŸ“‰
Bitcoin Technical Analysis 05-08-21πŸ“‰
Bitcoin Technical Analysis 05-09-21πŸ“ˆ
Bitcoin Technical Analysis 05-10-21πŸ“‰
Bitcoin Technical Analysis 05-11-21πŸ“‰
Bitcoin Technical Analysis 05-12-21πŸ“‰
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 04-01-21πŸ“ˆ
Ethereum Technical Analysis 04-02-21πŸ“ˆ
Ethereum Technical Analysis 04-03-21πŸ“‰
Ethereum Technical Analysis 04-04-21πŸ“‰
Ethereum Technical Analysis 04-05-21πŸ“‰
Ethereum Technical Analysis 04-06-21πŸ“‰
Ethereum Technical Analysis 04-07-21πŸ“ˆ
Ethereum Technical Analysis 04-08-21πŸ“ˆ
Ethereum Technical Analysis 04-09-21πŸ“ˆ
Ethereum Technical Analysis 04-10-21πŸ“‰
Ethereum Technical Analysis 04-11-21πŸ“ˆ
Ethereum Technical Analysis 04-12-21πŸ“ˆ
Ethereum Technical Analysis 04-13-21πŸ“ˆ
Ethereum Technical Analysis 04-14-21πŸ“ˆ
Ethereum Technical Analysis 04-15-21πŸ“‰
Ethereum Technical Analysis 04-16-21πŸ“‰
Ethereum Technical Analysis 04-17-21πŸ“‰
Ethereum Technical Analysis 04-18-21πŸ“ˆ
Ethereum Technical Analysis 04-19-21πŸ“ˆ
Ethereum Technical Analysis 04-20-21πŸ“ˆ
Ethereum Technical Analysis 04-21-21πŸ“ˆ
Ethereum Technical Analysis 04-22-21πŸ“‰
Ethereum Technical Analysis 04-23-21πŸ“‰
Ethereum Technical Analysis 04-24-21πŸ“‰
Ethereum Technical Analysis 04-25-21πŸ“ˆ
Ethereum Technical Analysis 04-26-21πŸ“ˆ
Ethereum Technical Analysis 04-27-21πŸ“ˆ
Ethereum Technical Analysis 04-28-21πŸ“ˆ
Ethereum Technical Analysis 04-29-21πŸ“‰
Ethereum Technical Analysis 04-30-21πŸ“‰
Ethereum Technical Analysis 05-01-21πŸ“ˆ
Ethereum Technical Analysis 05-02-21πŸ“ˆ
Ethereum Technical Analysis 05-03-21πŸ“ˆ
Ethereum Technical Analysis 05-04-21πŸ“ˆ
Ethereum Technical Analysis 05-05-21πŸ“ˆ
Ethereum Technical Analysis 05-06-21πŸ“ˆ
Ethereum Technical Analysis 05-07-21πŸ“ˆ
Ethereum Technical Analysis 05-08-21πŸ“ˆ
Ethereum Technical Analysis 05-09-21πŸ“ˆ
Ethereum Technical Analysis 05-10-21πŸ“ˆ
Ethereum Technical Analysis 05-11-21πŸ“ˆ
Ethereum Technical Analysis 05-12-21πŸ“‰
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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”₯
Crytomarket Weekly Overview and Forecast 03-19-21 to 03-26-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 03-26-21 to 04-02-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 04-02-21 to 04-09-21πŸ”₯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 cohttps://www.coindesk.com/price/bitcoinmpensation 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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