FX.co - BTC analysis for February 08,.2021 - Strong upside breakout and potetnial for testing of $49.000

2021-02-08T13:51:36

Relevance until2021-02-10

Further Development

BTC analysis for February 08,.2021 - Strong upside breakout and potetnial for testing of $49.000

Analyzing the current trading chart of BTC, I found that there is the upside breakout of the consolidation, which is strong sign for further upside.

My advice is to watch for buying opportunities on the pullbacks with the upside target at $19,000 (Fibonacci Expansion 100%).

Additionally, there is the breakout of the inside day formation, which is another sign of the upside continuation.

Key Levels:

Resistance: $49,000

Support levels: $37,800

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for February 08,.2021 - Strong upside breakout and potetnial for testing of $49.000