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BTC’s Bear Bounce: Sell the Rally Near $66K as Bears Target $59K–$52K Breakdown 
BTCUSD is trading flat since the markets are watching for further developments in the ceasefire negotiations between the United States and Iran in Islamabad. It peaked at $72875 yesterday and is currently trading at about $71421.
|
Technicals |
CMP -$71421 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$68952 |
CMP> 55 EMA |
Bullish |
|
200- EMA |
$69274 |
CMP >200- EMA |
Bullish |
|
365- EMA |
$71432 |
CMP< 365 EMA |
Bearish |
Major support- $64000/$60000/$52500/$50000. Minor bullishness only above $73000. Any break above targets $74500/$76200/$80000/$85500.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
123 |
|
ADX |
Bullish |
Strength increased from 38 to 39.63 |
It is good to buy on dips around $70000 with SL around $67000 for a TP of $80000.
