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Bitcoin Reclaims $70,000: Trump’s De-escalation Rhetoric Sparks Crypto Rally

After Trump mentioned that the Iran war might soon come to a close, BTCUSD climbed over $70000. Currently trading at about $70460, it has an intraday high of $71295.

Technicals

CMP -$70488

Trend

4- Hour chart

Value

 

 

55 EMA

$68471

CMP > 55 EMA

Bullish

200- EMA

$70533

CMP <200- EMA

Bearish

365- EMA

$75082

CMP < 365 EMA

Bearish

 

Major support- $64000/$60000/$52500/$50000. Minor bullishness only above $74000.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

72.54

ADX

Bullish

 Strength increased from 20.44 to 21.75

It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.

 

 

 

 

 

 

 

 

 

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