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Bitcoin Buckles at $73,500: Middle East Tensions and Weak Institutional Demand Set Bearish EMA Stack on $70K Collision Course

 

 

 

BTCUSD lost its shine on Middle East tension escalation and weak institutional demand. It has dropped to $72622 and is now trading at about $73437.

 

 

Technicals

CMP -$73500

Trend

4- Hour chart

Value

 

 

55 EMA

$76488

CMP<55 EMA

Bearish

200- EMA

$77192

CMP <200- EMA

Bearish

365- EMA

$76383

CMP<365 EMA

Bearish

 Major support- $72000/$70000/$67000/$64000/$60000. Minor bullishness only above $78000. Any break above targets $80000/$82000/$85890/$90000.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-250.22

ADX

Neutral

Strength increased from 14.65 to 20.53

It is good to sell on rallies around $75000, with an SL around $78000, for a TP of $70000/$67000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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