empty
15.02.2024 04:32 PM
Trading Signals for BITCOIN (BTC/USD) on February 15-29, 2024: sell below $53,125 (+2/8 Murray - overbought)

This image is no longer relevant

Bitcoin is trading around 50,210, above the psychological level of $50,000, and above the 4/8 Murray pivot point. It is observed that there is a strong upward trend in Bitcoin since it has been rising for four consecutive weeks and with a gain of more than 35%.

BTC has a strong bullish trend and is likely to find a resistance zone around 53,125 (+2/8 Murray). This level could be perceived as a signal to sell. From that point, a technical correction could occur so that BTC could fall to the bottom of the uptrend channel around 37,500.

Technically and according to the weekly chart, we do not see any signal to sell, but on H1 and H4 chartsm we can see that Bitcoin has reached a strong resistance zone and a technical correction is likely to occur in the coming days.

Our key to selling on weekly charts will be to wait for Bitcoin to reach 53,125. Then, we will have an opportunity to sell with targets at 44,000 and 37,500.

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

Forex forecast 04/11/2025: EUR/USD, GBP/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 15:20 2025-11-04 UTC+2

EUR/USD Forecast on November 4, 2025

On Monday, the EUR/USD pair continued its decline — one that no longer follows any "rules." Yesterday, we saw that the information background was once again ignored, and now even

Samir Klishi 10:46 2025-11-04 UTC+2

GBP/USD Forecast on November 4, 2025

On the hourly chart, the GBP/USD pair traded horizontally on Monday within the support level of 1.3110–1.3139. Thus, as of Tuesday morning, the price has not yet performed either

Samir Klishi 10:43 2025-11-04 UTC+2

GBP/USD. Technical Analysis on November 4, 2025

Trend Analysis (Fig. 1).On Tuesday, the market from the level of 1.3136 (the close of yesterday's daily candle) may begin moving downward toward the target of 1.3077 — the 176.4%

Stefan Doll 10:27 2025-11-04 UTC+2

EUR/USD. Technical Analysis on November 4, 2025

On Monday, the pair moved within a sideways channel, closing the daily candle at 1.1518. Today, the price may begin an upward movement. On Tuesday, strong calendar news is expected

Stefan Doll 09:10 2025-11-04 UTC+2

With the Golden Cross condition of its EMAs, Natural Gas seems likely to strengthen today. November 04, 2025.

[Natural Gas] – [Tuesday, November 04, 2025] With all technical indicators indicating bullish conditions for Natural Gas, today #NG has the potential to move toward its nearest resistance level

Arief Makmur 06:46 2025-11-04 UTC+2

Crude Oil seems set to strengthen today toward its nearest resistance level.Tuesday, November 04, 2025.

[Crude Oil] – [Tuesday, November 04, 2025] Although the RSI remains in the Neutral-Bearish zone, but with both EMAs intersecting the Golden Cross, it gives an indication that there

Arief Makmur 06:46 2025-11-04 UTC+2

Trading Signals for GOLD (XAU/USD) for November 4-6, 2025: buy above $3,956 (21 SMA - 200 EMA)

The Eagle indicator is showing a positive signal, so we will look for buying opportunities in gold in the coming hours if the price consolidates within the ascending trend channel

Dimitrios Zappas 05:27 2025-11-04 UTC+2

Trading Signals for BITCOIN for November 4-6, 2025: buy above $106,200 (21 SMA - 2/8 Murray)

Bitcoin is trading around $106,574 within a descending trend channel formed on October 27th, bouncing after reaching the key 2/8 Murray support level. If Bitcoin's price consolidates above the 2/8

Dimitrios Zappas 05:25 2025-11-04 UTC+2

Trading Signals for EUR/USD for November 4-6, 2025: buy above 1.1470 (21 SMA - 6/8 Murray)

If EUR/USD consolidates above 1.1470, we could expect a technical rebound, potentially returning the price to the 7/8 Murray price level at 1.1596 and even

Dimitrios Zappas 05:23 2025-11-04 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.