FX.co ★ Trading Signal for BTC/USD for February 08 - 09, 2021: Key level $43,625

The Bitcoin registers strong rises after the news that Tesla has invested 1,500 million dollars in this cryptocurrency, and also plans to accept this digital currency as a means of payment, according to Bloomberg. Prices for the digital asset rose to a record high above $ 44,000 after the news.

At the moment, it is trading near the Murray +2/8 resistance zone, this level is key as it is a strong resistance zone, we expect BTC / USD to consolidate below this level.

If Bitcoin trades below $ 43,750, we have a good selling opportunity with targets at the +1/8 Murray zone ($ 40,625).

The eagle indicator is very overbought, a technical correction is imminent in the next few hours to the 21 SMA around $39,317.

If the BTC / USD bounces in the zone of the uptrend channel, it will be a good point to buy as the sentiment of this cryptocurrency continues to remain bullish, and its medium-term goal is $ 51,500.

Support And Resistance Levels For February 08 - 09, 2021

Resistance (1) $45,879

Resistance (2) $47,738

Resistance (3) $50,834

Support (1) $42,184

Support (2) $40,146

Support (3) $38,746