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BTCUSD gained sharply above $70000 after a positive tweet by Trump on the US-Iran war. At the moment, it’s trading near $70746, having hit an intraday high around $71463.
In his March 23 Truth Social post, President Trump declared "very good and productive" US-Iran negotiations over the previous two days aimed at achieving total Middle East war settlement and postponed strikes on Iranian power plants pending success. This de-escalation signal caused immediate relief throughout the world's markets, as crude oil prices fell sharply (more than 10% intraday) from $114 highs as fears about the Strait of Hormuz faded.
|
Technicals |
CMP -$70957 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$70389 |
CMP >55 EMA |
Bullish |
|
200- EMA |
$70771 |
CMP < 200- EMA |
Bearish |
|
365- EMA |
$73704 |
CMP < 365 EMA |
Bearish |
Major support- $67000/$64000/$60000/$52500/$50000. Minor bullishness only above $72500. Any break above targets $76200/$80000/$85500.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-123 |
|
ADX |
Neutral |
|
It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.
