@xuanling11 17 February 2021 more from that month

Bitcoin Technical Analysis 02-17-21

**Bitcoin hit my target again! $55K next!** **Technical Analysis** Bitcoins opens at **$48K** and goes up to around **$52K** and stable around **$49K ~ $50K**. The average transaction fee is **$20.12** which is **8.06%** ****increase**** from 02-16-21. As I mentioned yesterday, Bitcoin retreat around **$48K** after touch **$52K**. If it stables around **$49K ~ $50K**, the next target is stable at **$52K** and hit **$55K**. The question is if Bitcoin will **continue raising and be sustainable**? My opinion is ****still yes**** which it will have more and more institutional buyers hype to buy. However, I also think the risk is ****high**** at this level. https://www.publish0x.com/bitcoin-price-drop-what-just-happened/bitcoin-technical-analysis-02-16-21-xryrwvz I remain my floor price to **$37K** indicates the strong support and raise the ceiling price at **$45K**. ****$52K has reached!**** 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**. https://www.publish0x.com/bitcoin-price-drop-what-just-happened/bitcoin-technical-analysis-02-16-21-xryrwvz 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 📈**** Bitcoin price is unsustainable https://www.benzinga.com/markets/cryptocurrency/21/02/19714202/bitcoin-crosses-52-000-after-jpmorgan-calls-current-price-unsustainable It indicates that Bitcoin gains more attraction from institutional buyers to hedge future. ****Most Bearish News 📉**** Bitcoin continue drying out https://decrypt.co/58001/blackrock-dabble-bitcoin It indicates that Bitcoin may face correction later with exceed supply. ------------------------------------------------------------------------------------- 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!

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