White House Denies Iranian Media MOU Report
- White House Denial: The White House swiftly denied Iranian media claims of a U.S.-Iran initial draft memorandum, labeling it a “complete fabrication,” which adds to market concerns regarding the Strait of Hormuz and could impact oil prices and cryptocurrency trends.
- Ongoing Negotiations: Secretary of State Marco Rubio indicated that while talks are active in Qatar, the language of the initial document is still under discussion, suggesting that any agreement could take several days to finalize, reflecting the complexity and uncertainty of the situation.
- Oil Price Fluctuations: Following the Iranian media report, U.S. crude prices fell below $89 per barrel, and the White House's denial further fueled skepticism about the progress of negotiations, potentially leading to heightened sensitivity among investors towards risk assets.
- Bitcoin Price Decline: Bitcoin traded at $74,945, down 2.88%, nearing a seven-day low, with a weak market structure prompting investors to monitor key support levels, which could lead to additional downward pressure if breached.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 70675.137 | 72482.369 | 74585.537 | 76392.769 | 78495.937 | 80303.169 | 82406.337 |
| Fibonacci | 72482.369 | 73976.141 | 74898.996 | 76392.769 | 77886.541 | 78809.396 | 80303.169 |
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