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BTC Loses Support, Rebounds from Iran FUD

Written By: ChartChamp

April 15, 2024

BTC Bleeds Amid Reports of Pending Iranian Drone Attack on Israel

$BTC has lost support from the green trendline, and the price has been bleeding from the news that Iran is preparing retaliatory drone attacks against Israel. There is still a white support line around $59-60k price levels, but I think the dip is being bought up here. If there is more continued panic selling in the market then the white trendline will be an important price level to monitor.

BTC Rebounds from Iran FUD

There was a lot of fear and panic selling taking place as Iran launched retaliatory strikes against Israel. However, this was a surprisingly short-lived attack and the crypto market has quickly rebounded. I think $BTC is likely to trade within a range between the white support line and yellow resistance line throughout this week. April is a seasonally bullish month, and I would not be surprised to see the markets trend up higher.

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