empty
02.02.2024 03:39 PM
Trading Signals for BITCOIN (BTC/USD) on February 2-6, 2024: buy above $42,200 (21 SMA - 200 EMA)

This image is no longer relevant

Bitcoin is trading at $43,121, bouncing after reaching the bottom of the uptrend channel around $41,800. According to the H4 chart, Bitcoin is within an uptrend channel formed since January 22, consolidating above the 200 EMA, which favors a positive outlook.

Above 42,990, BTC could reach 4/8 Murray at 43,750 (4/8 Murray) and finally, it could climb to 45,312. This level is the key and Bitcoin could face overbought levels. The token could come under strong bearish below 5/8 Murray.

On the contrary, if Bitcoin returns and falls below 3/8 Murray and below 42,309, we could expect a change in the trend. A sharp break of the uptrend channel could be seen as an opportunity to sell and Bitcoin could approach the psychological level of $40,000 and could even reach 1/8 Murray at 39,062.

We expect that BTC will continue consolidating above the 200 EMA (42,309) in the coming days. So, any technical rebound above this area could favor bullish momentum with the target at $45,000.

The eagle indicator is approaching overbought levels. If Bitcoin fails to break and consolidate above the key area of 4/8 Murray located at $43,750, it could be seen as a clear signal to sell. In case of intensifying its fall and if BTC trades below 42,200, a lower target is seen at $39,000.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dimitrios Zappas
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for BITCOIN for July 23-26, 2025: buy above $ 118,000 (21 SMA - 6/8 Murray)

Bitcoin is trading around $118,000, correcting after reaching the psychological level of $120,000, the area proven to be a strong barrier. BTC is likely to resume its bullish cycle

Dimitrios Zappas 07:03 2025-07-23 UTC+2

Trading Signals for EUR/USD for July 23-26, 2025: buy above 1.1671 (21 SMA - 8/8 Murray)

On the other hand, a drop below 1.1670 could change the outlook for the euro, and we could expect a decline toward the 7/8 Murray support level, which coincides with

Dimitrios Zappas 06:59 2025-07-23 UTC+2

All technical indicators condition for AUD/USD indicates significant strengthening on Wednesday, July 23, 2025.

AUD/USD – Wednesday, July 23, 2025. All technical indicators for AUD/USD indicate significant strengthening, ranging from the 50-day moving average (EMA) and 200-day moving average (EMA) crossing a Golden Cross

Arief Makmur 06:59 2025-07-23 UTC+2

The Golden Cross on EUR/GBP still indicates potential strengthening in the EUR/GBP currency pair, Wednesday, July 23, 2025.

EUR/GBP - Wednesday, July 23, 2025. Although the RSI (14) is in the Bearish Neutral area, but both EMAs are still in a Golden Cross condition where this is indicating

Arief Makmur 06:59 2025-07-23 UTC+2

Trading Signals for GOLD (XAU/USD) for July 23-26, 2024: sell below $3,437 (21 SMA - 8/8 Murray)

We could have a positive outlook for gold if it consolidates above 3,437. Then, it could reach the +1/8 Murray at 3,472 and even get the psychological level of $3,500

Dimitrios Zappas 06:55 2025-07-23 UTC+2

EUR/USD Forecast for July 23, 2025

The euro managed to expand its consolidation range (ahead of the Federal Reserve meeting) up to the daily MACD line. The 1.1692 level, relevant yesterday, is now void. If today's

Laurie Bailey 05:03 2025-07-23 UTC+2

GBP/USD Forecast for July 23, 2025

Yesterday, the British pound added another 41 pips to its corrective rise from the 1.3369 support level seen on July 16. However, once again, the price failed to break above

Laurie Bailey 05:03 2025-07-23 UTC+2

USD/JPY Forecast for July 23, 2025

This morning, the price reached the support level of 146.29 and decisively reversed upward. Whether this determination will be enough to break through 148.66 remains to be seen—especially with

Laurie Bailey 04:56 2025-07-23 UTC+2

USD/CAD. Analysis and Forecast

Early in the European session today, the USD/CAD pair attempted to halt its decline but was unsuccessful. It is currently trading around 1.3678. Bearish sentiment remains in place, as oscillators

Irina Yanina 19:49 2025-07-22 UTC+2

EUR/USD – July 22nd: 30% Tariffs for the European Union

On Monday, the EUR/USD pair resumed its upward movement after consolidating above the 1.1645 level, as I had previously warned. A rebound from the 127.2% Fibonacci level at 1.1712 worked

Samir Klishi 11:42 2025-07-22 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.