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Bitcoin Technical Analysis 04-19-21

Technical Analysis

Bitcoins opens at $56K and goes down to around $54K and stable around $56K ~ $57K. The average transaction fee is $44.06 which is 12.58% decrease from 04-18-21. As I mentioned yesterday, Bitcoin continue stabling around $61K since All Time High has reached at $63K. My calculation on its value is $64K at some point which indicates that Bitcoin may continue correction in coming week with its strong support at $57K. Bitcoin may touch $64K again. If it stables around $61K ~ $62K, the next target is stable at $64K and hit $65K. You can reference my method here

I raise my floor price to $50K indicates the strong support and raise the ceiling price at $60K.

Bitcoin volatility is moving less volatile in yesterday. The market has reacted peak value at $61K but retreated to $54K 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 $52K. 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 neutral position ???. The price may fluctuate more in the coming day since Bitcoin VIX is low. There may have medium risks in the coming day as the greed level goes up!

Bitcoin Value =  $50k ~ $60k and my position is Long.

Here are some highlights to support my analysis:

Current News Summary:

Most Bullish News ??

Time Magazine accepts Bitcoin payment

It indicates that Bitcoin price will be stable with more supporting from users.

Most Bearish News ??

Bitcoin do or die

It indicates that Bitcoin may face correction due to low trading volumes.

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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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You can reference my previous monthly Bitcoin and Ethereum analysis here ????:

???? January 2021 Technical Analysis Summary ????

???? February 2021 Technical Analysis Summary ????

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You can reference my previous daily Bitcoin analysis here ????:

Bitcoin Technical Analysis 03-01-21??

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You can reference my Bitcoin methodology here and here.

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You can reference my previous daily Ethereum analysis here ????:

Ethereum Technical Analysis 03-01-21??

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You can reference my previous daily Dogecoin analysis here ????:

Doge Analysis 12-28-21??

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Doge Analysis 01-28-21??

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You can reference my previous weekly Cryptomarket forecast analysis here ????:

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Crytomarket Weekly Overview and Forecast 03-19-21 to 03-26-21????

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Risk forecast guideline:

Risk Averse means you can use as defense ???

Risk Seeking means you can use as offense ??

Risk Neutral means no decision made and continue seeking opportunities ???

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Disclosure: I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrencies are mentioned in this article. This information is only for educational purposes.

The text on this page is based on the original post and does not claim the copyright of the owner in any way. Everything written here is a free interpretation of the original post.
 
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