empty
12.02.2024 05:45 PM
Trading Signals for BTC/USD (Bitcoin) on February 12-14, 2024: buy above $47,500 (upside potential - 8/8 Murray)

This image is no longer relevant

Bitcoin is trading around 47,874.90, below the high it reached in early January, and above 6/8 Murray which has now become a strong bottom. According to the daily chart, Bitcoin has bullish potential. In the coming days, it could likely reach the psychological level of $50,000.

We believe that Bitcoin is within a strong bullish trend zone. So, with any technical correction, while trading above the 21 SMA located at 43,422, the outlook will remain bullish.

The daily pivot point is located around 47,500. As long as Bitcoin consolidates above this area, there is strong upside potential to buy with targets at 48,437, at the high reached so far of 48,984, and at the top of the uptrend channel around 49,200. The ultimate bullish target is at the psychological level of $50,000.

In case there is any technical correction, Bitcoin could find a strong rebound from 46,875 (6/8 Murray) which could be seen as a signal to buy with the target at 8/8 Murray located at $50,000.

In case Bitcoin falls below 6/8 Murray, the technical correction could extend and the price could reach the key 4/8 Murray zone located at 43,750.

Our outlook remains positive for Bitcoin. Any pullback as long as it trades above 46,875 will be seen as a signal to buy. We can buy now BTC at the current price levels only if it trades above 47,500. The eagle indicator is giving a positive signal which supports our bullish strategy.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Forex forecast 02/04/2025: EUR/USD, USD/JPY, USDX and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:34 2025-04-02 UTC+2

Forecast for EUR/USD on April 2, 2025

On Tuesday, the EUR/USD pair rebounded from the support zone at 1.0781–1.0797 but failed to rise to the 200.0% Fibonacci level at 1.0857. On Wednesday morning, the pair returned

Samir Klishi 11:23 2025-04-02 UTC+2

Forecast for GBP/USD on April 2, 2025

On the hourly chart, the GBP/USD pair continued to move sideways on Tuesday. There is currently no dominance of either bulls or bears in the market—and this has been

Samir Klishi 11:17 2025-04-02 UTC+2

EUR/USD Forecast for April 2, 2025

By the end of yesterday, the euro fell by 25 pips, but risk appetite in the market continued to grow: the S&P 500 rose 0.38%, the yield on 5-year U.S

Laurie Bailey 04:49 2025-04-02 UTC+2

GBP/USD Forecast for April 2, 2025

Yesterday's data on UK manufacturing activity for March showed a decline from 46.9 to 44.9. Against the backdrop of the U.S. index falling from 52.7 to 50.2, the drop

Laurie Bailey 04:49 2025-04-02 UTC+2

Bitcoin Forecast for April 2, 2025

Bitcoin (BTC) After reaching the support level of 81,231 (the approximate low from March 4 and 18), the price approached the MACD line (86,038). A breakout above this line would

Laurie Bailey 04:49 2025-04-02 UTC+2

Trading Signals for EUR/USD for April 1-3, 2025: sell below 1.0804 (21 SMA - 8/8 Murray)

Early in the American session, the euro is trading around 1.0791, undergoing a technical correction after reaching the top of the downtrend channel formed on March 14 and showing signs

Dimitrios Zappas 15:06 2025-04-01 UTC+2

Trading Signals for GOLD (XAU/USD) for April 1-3, 2025: sell below $3,144 (21 SMA - 8/8 Murray)

On the other hand, if the price consolidates below the 8/8 Murray level at 3,125, the outlook will be negative. So, we believe the instrument could reach 3,091

Dimitrios Zappas 15:04 2025-04-01 UTC+2

Forex forecast 01/04/2025: EUR/USD, AUD/USD, NZD/USD, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:43 2025-04-01 UTC+2

EUR/USD. April 1. Traders Are Confused and Unwilling to Take Risks

On Monday, the EUR/USD pair continued its upward movement and even rebounded from the support zone at 1.0781–1.0797. However, believing in a further rise of the euro is becoming increasingly

Samir Klishi 11:32 2025-04-01 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.