The upward trend in the cryptocurrency market continues with the euphoria, now the BTC this morning of February 19 is trading at $ 52,670 is about to reach the level of $ 53,125 in that area is located the +1/8 of Murray could enter the overbuy area.
On the other hand, retail traders are long while professional traders are less optimistic in the short term.
In view of the fact that there could be a correction of the BTC we recommend waiting for the support level located with the SMA of 21 at $ 50863, a bounce in this zone will give the bullish force with targets at $ 56,250.
On the contrary, a break below the psychological level of $ 50,300 we could sell with targets at $ 46,875, there is 7/8 of Murray.
Support And Resistance Levels For February 19 - 22, 2021
Resistance (1) $53,570
Resistance (2) $54,320
Resistance (3) $57,096
Support (1) $51,059
Support (2) $50,138
Support (3) $47,738