Technical analysis BTC/USD for February 13, 2021

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Trading BTC/USD (Bitcoin - Cryptocurrency)

The volatility is very high for that BTC/USD is still moving between a large range of $2,000 - $6,000 daily; because Bitcoin's uptrend continues as more companies are buying Bitcoin.

BTC/USD increased within an up channel - The top price ses at $48,883. Bitcoin price hit a new all-time high at $48,883, reaching a market capitalization of over $900 billion.

Note : Wall Street Banks Inch Closer to Adopting Bitcoin. CNBC's Hugh Son reports on growing pressure from Wall Street employees for firms to adopt bitcoin.

Yes! Bitcoin set a new All-time-high this week hitting around $49, the coin still has plenty of room for growth as the long-awaited $50k is closer than ever.

BTC/USD was trending up, briefly breaking up above $44,900. The buying dynamics subsided, giving way to some

uptrend fluctuations between the prices of $44,000 and $49,000 with another upturn to from the spot of $44,000 - $44,901.

Last three days, the trend of BTC/USD movement was controversial as it took place in the uptrend channel. Due to the previous events, the price is still set between the prices of $44,000 and $49,000, so it is recommended to be careful while making deals in these levels because the prices of $44,000 and $49,000 are representing the resistance and support respectively.

The support of BTC/USD has already set at the price of $44,902. This support has been rejected three times confirming the veracity of an uptrend.

The market is likely to show signs of a bullish trend around the spot of $44k - $45k.

Buy orders are recommended above the area of $45k or/and $46 with the first target at the price of $48k; and continue towards $45k in order to test the last bullish wave.

We are still hole on Our objectives $50,000.

On the other hand , if the BTC/USD fails to break through the resistance price of $49k today, the market will decline further to $44 k so as to retest it again.

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Crypto industry news (Ethereum News - (Source : cryptonews))

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1) 7 Traditional Investors Who Said Bah Humbug to Bitcoin. While there is no shortage of investors who have given bitcoin (BTC) their seal of approval, there is a possibly even longer list of financial Svengalis who would happily dance on the cryptoasset's grave.

Check out this list of just a few of the investment top guns who just love to nay-say about BTC. But who knows, maybe they'll join the other side soon, as recent examples of Ray Dalio and Marc Cuban demonstrated.

2) Canada OKs Its First Bona Fide Bitcoin ETF, JPMorgan on BTC.

3) Politicians appear set to use bitcoin (BTC) and altcoins as tools to score points with crypto-keen voters and citizens in some of the USA's biggest cities – as would-be New York mayor Andrew Yang and current Miami mayor Francis Suarez appear keen to outdo each other with far-reaching new promises and manifesto pledges that can also help attract new investments into these cities.

Suarez, per Bloomberg, has proposed investing a "limited amount of government funds" in bitcoin, and said that he "is committed to promoting the emergence of bitcoin as it continues to gain mainstream acceptance."

And the Miami political chief might not stop there: He also proposes paying municipal workers in BTC and allowing citizens to use the token to pay their tax bills.

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The material has been provided by InstaForex Company - www.instaforex.com

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