Recent events regarding the U.S. bombings in Iran have significantly affected cryptocurrency prices, particularly Bitcoin (BTC) and Bitcoin Cash (BCH). This article provides an analysis of the changes and recommendations for investors.
Price Dynamics of BTC
As a result of the bombings in Iran, BTC's price rapidly dropped to $98,200. After breaking below $100,000, the price began to recover, forming a bullish engulfing pattern on the four-hour chart, indicating a potential reversal. This price drop is perceived as a liquidity grab, suggesting a possible short-term rise.
Trends in BCH Market
BCH also faced a decline but found support around $437, aligning with the ascending trendline and high-volume trading zone. At the moment, BCH is trading at $447. Investors might consider entering long positions in the range of $437 to $447.
Investor Recommendations
For BTC, entry levels are recommended at $101,000, with take-profit targets set at $104,200, $106,000, and $108,400. Stop-loss levels can be set below $100,000 or the previous low of $98,200. For BCH, entry levels range from $437 to $447, with targets at $485, $500, and $550. Stop-loss levels can be set at $436 or below the high-volume zone at $424.
The analysis of the current state of the cryptocurrency market shows high volatility in response to geopolitical events. Investors should consider the suggested entry levels and stop-loss placements, taking into account their individual risk tolerance.
