The BTC rate movements look like there will either be more escalation in the Middle East or another reason will be found. The current chart does not promise growth.
Sellers are still stronger, since the release of the morning review there has been a clear reaction of sellers from EMA 200 of the four-hour TF and EMA 50 of the daily TF. The fight is for the volume level of $61,231. And we bet that the bulls will lose it. The next stop in this case is EMA 200 of the daily TF (currently $59,880) and the volume level area of $59,335.
Let's see what has changed around the Middle East in the meantime:
- Biden's national security adviser Jake Sullivan said an Iranian missile attack on Israel would have "serious consequences."
- Israel launched more strikes on Beirut tonight. The day before, the IDF issued a warning about which areas of the city should be evacuated.
- Israel is considering strikes on the country's nuclear facilities (!), as well as oil production facilities and "targeted assassinations" as a response to Iran's missile attack. This is what#Axioswrites, citing sources in Israel.
- The Guardian also believes that Israel will respond to Iran's shelling in a "far more comprehensive manner", including a possible strike on nuclear facilities.
- The exact nature of the military response to Iran has not yet been decided; Israeli officials want to consult with the Biden administration.
- Iranian Foreign Minister Araghchi, in a conversation with the foreign ministers of England, Germany and France, said that the situation in the Middle East could stabilize in the coming days. BUT he noted that if Israel "tries to take revenge, our response will be more severe." Tehran also calls on "any third party not to interfere in this conflict." Tehran says that it "does not seek escalation, although it is not afraid of war." According to Araghchi, yesterday's strikes were carried out only on military targets as part of defense, and the operation has already been completed. The head of the Iranian Foreign Ministry said that the country's armed forces are ready for possible actions by Israel.
- IRGC members anonymously told The New York Times that they have already prepared hundreds of missiles for a possible second strike on Israel in case of retaliation. All flights in Iran have been cancelled until October 3 to ensure flight safety in the region.
- Israel has banned entry to UN Secretary General Antonio Guterres. The Foreign Minister accused him of supporting Hamas, Hezbollah, the Houthis and Iran.
- The New York Times believes that the world may be approaching "the most dangerous moment in the history of the modern Middle East" - a ballistic missile war between Iran and Israel. According to the publication, this would almost certainly lead to the United States taking Israel's side, and together they will try to destroy Iran's nuclear program.
- The Independent believes that the escalation of the conflict is not yet predetermined, and the nature of the Iranian attack leaves Israel with the opportunity to respond not too harshly and maintain the current, albeit very tense, balance. It can also respond with sanctions, which will put additional pressure on Iran, but is unlikely to force it to respond with force. This would be the preferred option for Washington.