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Bitcoin Pulls Back as US-Iran Tensions Stir Fresh Risk-Off Pressure

BTCUSD pared some of its gains on the escalation on geo political tension between the US and Iran. It hit an intraday low of $61688 and is currently trading around $61596.

 

Technicals

CMP -$61596

Trend

4- Hour chart

Value

 

 

55 EMA

$62250

CMP>55 EMA

Bearish

200- EMA

$63841

CMP <200- EMA

Bearish

365- EMA

$66535

CMP<365 EMA

Bearish

 Major support- $57700/$52796. Minor bullishness only above $65000. Any break above targets $67000/$70000/$72200/$74950/$78000/$80000.

Momentum indicator (1-hour chart)

Inference

Value

CCI(50)

Bullish

45.02

ADX

Neutral

 

It is good to sell on rallies around $63000 with an SL around $66000 for a TP of $50000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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