Bitcoin Technical Analysis 03-10-21

Bitcoins opens at $54K and goes up to around $57K and stable around $53K ~ $54K. The average transaction fee is $19.42 which is 65.28% increase from 03-09-21. As I mentioned yesterday, Bitcoin touches $57K. If it stables around $53K ~ $54K, the next target is stable at $55K and hit $58K. I think the All Time High at this level will likely. My calculation on its value is $52K 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 $54K zone and head it to $58K. 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.

Also, if you have any suggestions, please do not hesitate to let me know!

Thanks for reading and see you tomorrow!