17.02.202615:28 Forex Analysis & Reviews: Trading Signals for BITCOIN (BTC/USD) on February 17-20, 2026: sell below $69,200 (21 SMA - 2/8 Murray)

Relevance up to 08:00 UTC--5

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Bitcoin is trading around $67,768 below the 21 SMA and below the 3/8 Murray within a downtrend channel formed since early February and showing signs of exhaustion of bullish strength.

Yesterday, during the US session, Bitcoin attempted to touch the psychological level of $70,000 but encountered strong resistance around the 21 SMA. From that area, we are seeing a pullback, so BTC is likely to continue its bearish cycle in the coming days and is expected to reach the 2/8 Murray around $62,500.

In case of a pullback towards the upper band of the downtrend channel around $70,000, this will be seen as a signal to open short positions with targets around the psychological level of $60,000.

The overall outlook for Bitcoin remains negative as investors continue to take refuge in gold, causing risk assets to lose value. Therefore, we must be cautious as a bearish move towards key support levels of $62,560 could be the target for bears.

The Eagle indicator is showing a negative signal, so in case of a pullback, it will be seen as an opportunity to open short positions only if the price consolidates below $70,800.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.