FX.co ★ Trading Signal for BTC for February 02 - 03, 2021: Potential bullish momentum to $ 37,500.

The Bitcoin bulls are relentless in the fight for highs above $ 43,000, while the medium-term target of 50,000 continues to show signs.

This morning of the American session the Cryptocurrency BTC is bullish, because it is trading above the 200 EMA and above the 21 SMA.

The last 4-hour candle confirms the break of this level, because yesterday we saw strong downward pressure below $ 37,350, now it is trading above this level, and it is likely that in the next few hours there will be an upward momentum to the zone of the 8/8 of murray around $ 37,500.

As market sentiment for BTC remains bullish, it is likely that now while trading above the 200 EMA, there will be further rallies to the $ 43,000 levels in the medium term as the bulls are targeting $ 50,000 long. term.

Our recommendation is to buy at the current levels, only if the price of BTC remains above the 200 EMA, that is, above $ 34,375, this zone has now become a good support and there could be a new bullish wave with targets at $36,550 and $37,500.

Support And Resistance Levels For February 02 - 03, 2021

Resistance (1) $35,877

Resistance (2) $37,109

Resistance (3) $37,721

Support (1) $33,507

Support (2) $32,368

Support (3) $31,136