BlocksInform
Technical Analysis
Bitcoins opens at $45K and goes down to around $44K and stable around $48K ~ $49K. The average transaction fee is $14.85 which is 0% decrease from 02-28-21. As I mentioned yesterday, Bitcoin retreat around $44K after touch $45K. If it stables around $48K ~ $49K, the next target is stable at $50K and hit $52K. My prediction is that the downward trend will continue. My calculation on its value is $48K at some point which indicates that Bitcoin may continue correction in coming week with lower fear index. You can reference my method here. Despite the correction, Bitcoin is back at $49K zone. Patience pay off!
I remain my floor price to $40K indicates the strong support and remain the ceiling price at $50K.
Bitcoin volatility is moving more 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 $43K. Volatility in trading is still health at this level.
Bitcoin increases its correlation for Gold that it becomes a neutral position ???. The price may fluctuate more in the coming day with price toward mid-level. There may have medium risks in the coming day as the greed level goes down!
Bitcoin Value = $40k ~ $50k and my position is Long.
The following highlights support my analysis:
Here are the plans for today:
What's the most bullish story ?
Institutional investors continue to buy Bitcoin
There was a possibility that Bitcoin could surpass its present price after correction. Meanwhile, whales continue to accumulate Bitcoin.
Is this the worst news of all time?
The government may take a stand on Bitcoin regulations.
It may mean Bitcoin faces correction due to government enforcement.
The following are some important ideas to have in mind:
Here are summary of general forecast of this week of economy and market:
Any suggestions or ideas are greatly appreciated.
Thank you for reading! I'll see you tomorrow!
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Should you have any questions or concerns, please reach out to me ??.
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A risk forecast guideline:
You are putting yourself at risk. Averse means you can use as defense ???
You are putting yourself at risk. Seeking means you can use as offense ??
You are putting yourself at risk. Neutral means no decision made and continue seeking opportunities ???
The following are some important ideas to have in mind:
The following disclosure may be made: My own opinions are expressed in this article. It is not compensated. There is no relationship to any company whose cryptocurrencies are discussed in this article. This information is for educational purposes only.
