The Bitcoin (BTC / USD) is at the top of a wave of positive sentiment, as it prepares to break above $ 50,000.
This volatile weekend Bitcoin (BTC / USD) reached a new all-time high at $ 49,568, expectations put Bitcoin in the spotlight again for many companies.
On the other hand, the strength of the US dollar continues to falter. The US Dollar Currency Index (USDX) is trading above the psychological level of 90, jeopardizing the strength of the dollar and this could favor Bitcoin, pushing it towards the $ 50,000 target.
On the technical level we note that the BTC / USD is trading below the SMA of 21 around $ 47,150 this level is key, because below this level we could expect a correction movement towards the support zone of $ 43,750.
On the other hand, a consolidation above $ 47,150 will open the way to the $ 50,000 area that coincides with Murray's 8/8, this movement is very likely to happen in the short term.
Our recommendation is to keep in mind the SMA of 21, if the price of BTC is above buy and if it is below Sell.
Support And Resistance Levels For February 15 - 16, 2021
Resistance (1) $49,971
Resistance (2) $51,170
Resistance (3) $52,934
Support (1) $47,201
Support (2) $45,437
Support (3) $44,430