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Bitcoin Recovers Amid Easing Geopolitics: Bulls Target USD 80,000 Support Rebound

 

BTCUSD surged sharply on easing geopolitical tension.It reached an low of $64938 yesterday, and is currently trading around $68867.

 

Technicals

CMP -$68867

Trend

4- Hour chart

Value

 

 

55 EMA

$68094

CMP< 55 EMA

Bearish

200- EMA

$69960

CMP <200- EMA

Bearish

365- EMA

$72306

CMP <365 EMA

Bearish

 Major support- $67000/$64000/$60000/$52500/$50000. Minor bullishness only above $72500. Any break above targets $74500/$76200/$80000/$85500.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-11

ADX

Neutral

 

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

 

 

 

 

 

 

 

 

 

 

 

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