Bitcoin Technical Analysis 03-07-21

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.

Most Bullish News 📈

Chinese companies are buying Bitcoins

It indicates that Bitcoin price will be stable with expending of users.

Most Bearish News 📉

Bitcoin sentiment goes negative

It indicates that Bitcoin may face correction due to loss confidence.

Resources

1. https://www.coindesk.com/price/bitcoin

2. https://www.trustnodes.com/2021/03/07/publicly-traded-chinese-company-buys-bitcoin-and-ethereum

3. https://en.ethereumworldnews.com/bitcoins-twitter-sentiment-at-its-most-bearish-since-oct-1st-2020/