Market Update: Significant Day for BTC Ahead #
➡️ Bitcoin is on the verge of breaking its 50-day or 200-day moving average today, which could influence the Bitcoin and Crypto markets in the coming days. BTC has remained within these two moving averages for the past 2-3 days, and several major events are poised to impact both the Crypto and US Stock markets:
1. US Unemployment Data: Scheduled for release at 6 PM IST. This will significantly affect the US stock market and could lead to either a substantial rally or a steep decline in the Crypto market.
2. Israel-Iran Tensions: Israel is expected to launch a counterattack on Iran today, increasin geopolitical uncertainty.
3. Critical Levels: BTC needs to maintain the $60K level (200-day moving average) to rebound. A breach could quickly drop it to the $56K-$57K range.
➡️ The interplay of the Iran-Israel conflict, US elections, and forthcoming data is creating substantial market volatility.
⚠️ Exercise caution! Utilize low leverage, and ensure tight stop-loss orders are set for all your ongoing trades.
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