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Bitcoin Technical Analysis and Price Forecast.
$BTC is still trading above $70K indicating the strong demand, Bitcoin plunge from $73K$ to $71$ on the day start of the Sunday when the Vice President of US JD Vance announced that the US and Iran deal has been failed.
At the time of writing this Bitcoin is trading $71,000. Micro Strategy CEO the Bitcoin OG Michael Saylor hint another bitcoin Purchase on his official X account, this purchase can work as catalyst for bitcoin bulls.
However another rejection from $74K can result in the fall of price to $68K.
The Relative Strength Index RSI is at 57 higher then the level of neutral aiming slightly upward indicating that the prices are going up on short term, while Moving Average Convergence Divergence MACD is showing a weak demand.
#USMilitaryToBlockadeStraitOfHormuz #Bitcoin