Bitcoin (BTC) is in a twist: Geopolitical risks are increasing!

Bitcoin ($BTC ), which has been under selling pressure with the escalation of the Israel-Iran war, has received a reaction from a critical level.

Bitcoin, which was in an upward trend between September 5-30, reversed its direction with the escalation of Israel-Iran tensions. The leader of cryptocurrencies, which lost 10 percent of its value in a short time, naturally created anxiety in investors and the market. The leader of cryptocurrencies, which received a reaction from $ 60,000 on October 1, later managed to rise above $ 61,000. However, the escalation of the Israel-Iran war may push Bitcoin into a decline again.

The $ 60,000 level, which is important both psychologically and technically, worked as support during the decline on October 1. However, the continuation of the war environment between Israel and Iran may weaken this support level with each passing day. As of the writing of the news, $BTC , which is changing hands at $61,412, may test $56,602 - $52,614 and $50,580, respectively, if it breaks $60,000 downwards.

In this process, especially the global news flow will play a critical role. Daily closings below the recent low of $52,614 may herald a pullback to the $40,000 - $42,000 range.

If the Israeli-Iran tensions calm down, the positive impact of the US presidential elections or BTC rises above $63,000, it may target $64,758 - $67,091 - $70,500 and $73,684, respectively. In such a scenario, the $70,500 band will be important. Weekly closings above this area may accelerate the bull run.

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