Bitcoin briefly decreased to less than $ 100,000 during the 12 -day conflict that included Israelis and the United States on Iran, as well as retaliatory attacks on the bases of Israel and the United States in Qatar.
The markets were shaken until US President Donald Trump confirmed that both Israel and Iran had agreed to a ceasefire. This announcement sparked a recovery in the feeling of global risks. With the return of the investor’s confidence, Bitcoin started a new rally, penetrating the level of $ 106,000 on Wednesday.
The new data indicates that encryption assets may witness a possible increase to $ 120,000 amid constant geopolitical uncertainty.
The beginning of the new bull leg?
Bitcoin can prepare for a sharp upward step, which is likely to reach 120,000 dollars, after restoring the SIA moving average for 50 days (EMA). According to Cryptoquant, EMA is widely considered a widespread technical indicator, and support during corrections is often in a broader upward direction.
Historically, when Bitcoin decreases without this level and regains it quickly, the market tends to respond with a rapid increase of 10-20 %. This style is run again: After a brief decline under the EMA, Bitcoin closed over it for three consecutive days, which indicates the regeneration of the upscale momentum.
Cryptoquant explained that this recovery can start a new leg in the ongoing cycle. However, they warn that external geopolitical factors, especially developments related to the United States, Israel and Iran, may pump short -term fluctuations in the market. In such an environment, merchants should avoid excessive leverage and maintain a risk -run approach. While technical indicators are currently supporting the bullish view, the total uncertainty is still broader in a possible position of winds.
Nevertheless, the 50 -day EMA restores a milestone for bitcoin, which enhances the issue for a possible gathering towards the six numbers mark.
Psychological floor
In addition to technical indicators, standards on the series also support the current momentum of Bitcoin, especially the behavior of their owners in the short term.
A short-term holder achieved price Stand At a price of 98 thousand dollars, it continues to serve as the main psychological and technical support for Bitcoin. During the edges about $ 100,000, each height boosts six numbers as the new “fair value”. Bitcoin’s bitcoin price is $ 106.4 thousand, and it is a 7.2 % bonus on ST-RP, indicating a decrease in “butter”.
The recent sharp bounces off the Sth-RP emphasize a bullish structure, while long-term holders are still not affected, with cost basis at 32 thousand dollars. This veteran lock reduces the risk of the downside. As long as the coding assets above the Sth-RP, the upper trend of high decreases and higher altitudes are still intact; The break below will indicate a possible correction
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