Bitcoin Jumps Higher As Expected!
February 9, 2021 12:21 pmVideo
Latest News
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
Bitcoin (BTC/USD) has increased as much as 48,200 in the morning registering a new all-time high. Yesterday I’ve said in my analysis ” Bitcoin Eyes New Historical Highs! ” that Bitcoin is expected to increase further after passing above the short-term previous highs.
Technically and fundamentally, BTC/USD was strongly bullish, so the current rally is natural. The price has slipped lower in the last hours which is normal after such an aggressive rally. Still, the drop could be only a temporary one before it moves higher again. Such a retreat could help the buyers to buy this crypto again.
BTC/USD Temporary Retreat!
BTC/USD was expected to jump above 41,986 former historical high after retesting the Pivot Point (37,383). The aggressive breakout through the pitchfork’s upper median line (UML) and through the R1 signaled that the price will continue to increase.
Now the rate has decreased to retest the broken R2 (46,048) level and the 150% Fibonacci line. After this temporary decline, BTC/USD could approach and reach the first warning line (WL1) and the $50,000 psychological level.
BTC/USD Trading Tips!
The new historical high signals that BTC/USD could resume its major uptrend in the upcoming period. Stabilizing above the 150% Fibonacci line and beyond the R2 (46,048) represents a bullish signal. The price could jump way higher after the current retreat.
Closing below the R2 could indicate a larger short-term retreat. Bitcoin could come back to retest the 41,986 former all-time high before resuming its upwards movement. One thing is certain now, Bitcoin’s growth is far from being over after the latest developments.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: