Overcoming the mark of $195 per coin makes it possible to talk about the formation of a safe buying zone for the second half of February. Any long trades opened within the range of 195-185.50 will be profitable in the medium term. The probability of updating the annual and monthly highs is 80%.
The ascending cycle, which was carried out in the period of February 8 to 12, can be considered complete. To continue the growth, it will be necessary to go beyond the local accumulation zone. The closing of one of the days should occur above the weekly maximum. This will open the way for growth to the level of $240.
The probability of changing the momentum to bearish in the next two weeks is 20%. This makes it impossible to consider the sales of the instrument. Holding on to already opened purchases will be the most profitable solution in February. $240 per coin is one of the first, but far from the last, targets of the upward momentum.
The material has been provided by InstaForex Company - www.instaforex.com