Bitcoin Technical Analysis 02-23-21

Bitcoin retreat around $47K after touch $50K. If it stables around $46K ~ $48K, the next target is stable at $58K and hit $60K. I think the correction at this level will continue. My calculation on its value is $43.3K. You can reference my method here. Despite the correction, transaction fee is very expensive. There are people continue accumulating Bitcoin!

Bitcoin continues correction and hits value zone at around $45K. When Elon Musk mentioned price expensive, I knew he is going to buy more Bitcoin when it dips.