empty
08.02.2024 05:16 PM
Trading Signals for BITCOIN (BTC/USD) on February 8-10, 2024: buy above $44,600 (symmetrical triangle - 4/8 Murray)

This image is no longer relevant

Bitcoin is trading around 44,600, reaching the 61.8% Fibonacci retracement and with a strong bullish movement after having broken the symmetrical triangle pattern.

In the next few hours, Bitcoin is expected to continue rising and could reach the psychological level of $45,000 and could even approach 6/8 Murray located at 46,875.

The eagle indicator was moving within a bearish channel. After a breakout of this zone, we noticed that BTC increased its trading volume which caused Bitcoin to rise. The crypto is expected to continue rising in the coming days.

Given that BTC is in an upward movement, we should expect a technical correction to occur. For this, the important resistance level of 43,750 has now become a strong support that could give Bitcoin the boost it needs to reach the target of $46,900 (6/8 Murray).

In any case, Bitcoin should make a technical correction after this strong bullish momentum and consolidate above 4/8 Murray for the bullish outlook to prevail. If Bitcoin returns below 43,750, the bearish cycle could resume and the price could reach the psychological level of $40,000.

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

XAU/USD. Analysis and Forecast

Gold is losing its appeal today. The drop in prices last week below the 100-SMA on the 4-day chart, the failure to overcome it this week, as well

Irina Yanina 19:01 2025-08-19 UTC+2

Forecast for EUR/USD on August 19, 2025

On Monday, the EUR/USD pair reversed in favor of the U.S. currency and returned to the support zone of 1.1637–1.1645. A rebound of quotes from this zone will favor

Samir Klishi 11:05 2025-08-19 UTC+2

Forecast for GBP/USD on August 19, 2025

On the hourly chart, the GBP/USD pair on Monday resumed its decline after rebounding from the 100.0% retracement level of 1.3586 last week. Thus, I expect the decline to continue

Samir Klishi 11:00 2025-08-19 UTC+2

GBP/USD. Indicator Analysis on August 19, 2025

On Monday, the pair moved downward, breaking below the 5-day EMA at 1.3509 (thin red line), and closed the daily candle at 1.3500. Today, the price will attempt to continue

Stefan Doll 10:47 2025-08-19 UTC+2

EUR/USD. Indicator Analysis on August 19, 2025

On Monday, the pair moved downward, testing the 8-day EMA at 1.1658 (thin blue line), and closed the daily candle at 1.1659. Today, the price may continue to move lower

Stefan Doll 10:45 2025-08-19 UTC+2

Forex forecast 19/08/2025: EUR/USD, NZD/USD, USD/JPY, Gold, Ethereum 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 10:07 2025-08-19 UTC+2

EUR/USD today has the potential to be under downward pressure throughout the day. August 19, 2025.

[EUR/USD] – [Tuesday, August 19 2025] With the appearance of a Death Cross on the EMA (50) and EMA (200), which is also confirmed by the RSI (14) which

Arief Makmur 07:18 2025-08-19 UTC+2

Although Natural Gas is trading sideways, it has the potential to strengthen today. August 19, 2025.

[Natural Gas] – [Tuesday, August 19, 2025] Although the RSI (14) is in the bearish neutral area, the EMA (50) and EMA (200) have crossed a golden cross, the intersection

Arief Makmur 07:18 2025-08-19 UTC+2

EUR/USD Forecast for August 19, 2025

Yesterday's black candlestick in the euro, about 50 pips, formed right after the Fibonacci time line. This means the situation is unfolding according to our main scenario. Now, consolidation below

Laurie Bailey 05:29 2025-08-19 UTC+2

GBP/USD Forecast for August 19, 2025

The British pound abandoned its attempt to move toward the target level of 1.3631, slipping below 1.3525. From this, we conclude that the lower boundary of the range currently being

Laurie Bailey 05:29 2025-08-19 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.