Bitcoin Technical Analysis 03-14-21

Technical Analysis

Bitcoins opens at $60K and goes up to around $61K and stable around $57K ~ $58K. The average transaction fee is $25.81 which is 23.79% increase from 03-13-21. As I mentioned yesterday, Bitcoin touches $61K. If it stables around $58K ~ $60K, the next target is stable at $61K and hit $62K. All Time High has reached again. My calculation on its value is $62K at some point which indicates that Bitcoin may continue correction in coming week. You can reference my method here. Despite the correction, Bitcoin is back at $60K zone and head it to $62K. Patience is the key!

I remain my floor price to $40K indicates the strong support and remain the ceiling price at $50K.

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 and surprisingly the transaction fee has improved.

Bitcoin decreases its correlation for Dollar that it becomes a offense 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.