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Bitcoin has shown a positive reaction to news of a growing likelihood of an Iran-US peace deal, and is currently reacting to its 1-hour resistance level.
Breaking the 1H resistance at $77,331 could drive the price higher, with the next resistance at $78,097 — breaking that would lead to further upside and ultimately a reaction to our daily resistance at $78,905.
Bitcoin's weekly candle isn't looking bad, though there's a slight chance of a trap where sellers step in. Breaking the support at $76,225 could cause a price drop.
The RSI overbought level is 67.52 and the RSI oversold level is 40.46. The DMI indicator is converging, suggesting a potential move and price increase.
Risk management and capital management are essential in trading. Always trade based on your own strategy and risk tolerance. Every trading decision and its outcome are entirely your own responsibility.
Bitcoin has shown a positive reaction to news of a growing likelihood of an Iran-US peace deal, and is currently reacting to its 1-hour resistance level.
Breaking the 1H resistance at $77,331 could drive the price higher, with the next resistance at $78,097 — breaking that would lead to further upside and ultimately a reaction to our daily resistance at $78,905.
Bitcoin's weekly candle isn't looking bad, though there's a slight chance of a trap where sellers step in. Breaking the support at $76,225 could cause a price drop.
The RSI overbought level is 67.52 and the RSI oversold level is 40.46. The DMI indicator is converging, suggesting a potential move and price increase.
Risk management and capital management are essential in trading. Always trade based on your own strategy and risk tolerance. Every trading decision and its outcome are entirely your own responsibility.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.