Technical Analysis
Bitcoins opens at $48K and goes up to around $50K and stable around $48K ~ $49K. The average transaction fee is $18.62 which is 5.50% increase from 02-15-21. As I mentioned yesterday, Bitcoin retreat around $48K after touch $50K. If it stables around $47K ~ $48K, the next target is stable at $50K and hit $52K. The question is if Bitcoin will continue raising and be sustainable? My opinion is yes it will until more and more institutional buyers hype to buy. However, I also think the risk is high at this level.
I remain my floor price to $37K indicates the strong support and raise the ceiling price at $45K. $50K has reached again!
Bitcoin volatility is moving less volatile in yesterday. The market has reacted peak value at $50.5K but retreated to $48K which means the Bitcoin prepares for next milestone $52K soon if continue stabling around $50K.
Bitcoin decreases its correlation for Stock that it becomes a defense position 🛡️. The price may fluctuate less in the coming day with price toward mid-level. There may have higher risks in the coming day as the greed level still high!
Bitcoin Value = $37k ~ $45k 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 gains more attraction from institutional buyers to hedge future.
Most Bearish News 📉
Bitcoin institutional buyers are actually low
It indicates that Bitcoin may face correction later.
-------------------------------------------------------------------------------------
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!
You can follow me here:
Torum clan and join here
-------------------------------------------------------------------------------------
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 👁️
-------------------------------------------------------------------------------------
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.Resources