Bitcoin Technical & Sentimental Analysis 08-18-21
Technical Analysis
Bitcoins opens at $44K. It hits lowest at $44K and highest at $45K and stable around $44K ~ $45K. The average transaction fee is $2.75 which is a 5.52% decrease from 08-17-21. Fear and Greed level is at 73.
Here are some highlights to support my analysis:
Bitcoin Value = $35k ~ $45k and my position is Long.
Today’s sentimental news and comments:
Bullish News 📈
China’s district court contradicted itself when a lawsuit against the state to ban Bitcoin mining. The district court determined Bitcoin as virtual property and cannot compensate because it was unregistered as a currency in the market. Yet Bitcoin mining rigs’ purchases are illegal. Thus, no compensation whatsoever. So Bitcoin is an illegal currency with legal virtual status?!
Palantir starts make Bitcoin their payment option. Bitcoin as an alternative payment method is a safe adoption.
Jack Dorsey go deep into Bitcoin as they started the mining process.
Investors see Bitcoin as digital property. As a property, it is nearly illiquidity to preserve its valuation. However, Bitcoin is very active in trade.
PSV becomes the first football club in the EU to accept Bitcoin as a method of their sponsorship.
Bearish News 📉
China continues to crack down on crypto firms domestic.
Also, if you have any suggestions, please do not hesitate to let me know!
Thanks for reading and see you tomorrow!
