The US Congress Fears Cryptocurrencies Will Be Used to Finance Domestic Terrorism. For this reason, it is investigating whether domestic extremists are turning to cryptocurrencies as a source of funds for their activities.
This news may weigh on Bitcoin, because it will not have the freedom it enjoys so far in terms of rules and laws, however, supporters of BTC remain optimistic despite any barrier they put on Bitcoin.
On a technical level, we note that BTC / USD in 4-hour charts is trading below the 21-day SMA and below Murray's 8/8, showing a bearish signal.
If Bitcon trades below $ 50,000, there is likely to be a bearish move to the 7/8 zone around $ 43,750.
On the other hand, the eagle indicator in 4-hour charts is in the oversold zone, which indicates that if Bitcoin remains above $ 50,000 there could be a new upward momentum to the $ 56,250 zone.
Our recommendation is to sell below the 21 SMA and below $ 50,000.
Support And Resistance Levels For February 24 - 25, 2021
Resistance (1) $53,571
Resistance (2) $59,202
Resistance (3) $61,778
Support (1) $43,580
Support (2) $41,133
Support (3) $39,277
