📈 Bitcoin in the Crosshairs of Politics: Technical Analysis Amid Rising Trade Tensions
As discussions increase about Trump reinstating tariffs on Chinese imports, investor attention shifts once again towards Bitcoin (BTC/USDT) as an asset countering geopolitical and economic volatility.
🔍 Brief Technical Analysis:
Overall Trend: Bullish in the medium term.
Key Support: $68,000
Nearby Resistance: $72,500
Established Pattern: Ascending Triangle
Indicators:
RSI at 58: Has not entered the overbought area yet.
MACD: Weak positive crossover but in the formation stage.
Moving Averages: Price is above EMA100, and intersects with EMA50.
📉 Forecast:
If the $72,500 level is broken with a strong daily close, the price may target $75,800 then $78,000 in the short term. However, if the breakout fails, we may see a retest of the support areas at $68,000–$69,000.
📊 Suggested Chart (TradingView):
1. Open BTCUSDT on the daily timeframe.
2. Add resistance lines at 72.5K and support at 68K.
3. Draw an ascending triangle over the last two weeks.
4. Add RSI and MACD as supporting indicators.
5. Use the hashtag #trump tariffs and comment on the chart about the impact of tariffs on price movement.
💬 Do you see Bitcoin gearing up for a new surge amid rising political tensions? Or are markets awaiting new surprises?
Share your thoughts 👇
#Bitcoin #BTCUSDT #BinanceSquare #trump tariffs #CryptoAnalysis
As discussions increase about Trump reinstating tariffs on Chinese imports, investor attention shifts once again towards Bitcoin (BTC/USDT) as an asset countering geopolitical and economic volatility.
🔍 Brief Technical Analysis:
Overall Trend: Bullish in the medium term.
Key Support: $68,000
Nearby Resistance: $72,500
Established Pattern: Ascending Triangle
Indicators:
RSI at 58: Has not entered the overbought area yet.
MACD: Weak positive crossover but in the formation stage.
Moving Averages: Price is above EMA100, and intersects with EMA50.
📉 Forecast:
If the $72,500 level is broken with a strong daily close, the price may target $75,800 then $78,000 in the short term. However, if the breakout fails, we may see a retest of the support areas at $68,000–$69,000.
📊 Suggested Chart (TradingView):
1. Open BTCUSDT on the daily timeframe.
2. Add resistance lines at 72.5K and support at 68K.
3. Draw an ascending triangle over the last two weeks.
4. Add RSI and MACD as supporting indicators.
5. Use the hashtag #trump tariffs and comment on the chart about the impact of tariffs on price movement.
💬 Do you see Bitcoin gearing up for a new surge amid rising political tensions? Or are markets awaiting new surprises?
Share your thoughts 👇
#Bitcoin #BTCUSDT #BinanceSquare #trump tariffs #CryptoAnalysis