Bitcoin Price Broke Up Great Resistances After WW3 Break
The Strait of Hormuz was opened today. I was waiting for price dump on Bitcoin price chart. After this news dropped, Bitcoin price broke up great resistances.
Here you can see daily chart of Bitcoin price. Bitcoin price was in an ascending channel since 60K. I was waiting for breaking down this ascending channel. After The Strait of Hormuz opened, all of stock markets pumped as Bitcoin. Brent price went down. It was unexpected. Bitcoin price broke up great resistances. We may see mini bullish trend on crypto and stock markets.
Here you can see the indicator on daily chart of Bitcoin price. There was great downtrend line on RSI Indicator. It was tested 4 times before to break up and Finally It is broken up today with the Strait of Hormuz news.
Even Fisher Indicator was on the top, Even MACD Indicator was close to break down mini uptrend lines, Bitcoin price broke up great downtrend line on RSI Indicator.
This bearish setup ended. We need to see the new pattern on Bitcoin price chart.
After this news and market conditions, I think we may see mini uptrend until the middle of May. We may see mini bullish trend for a month.
The top line of this ascending channel is another resistance for Bitcoin price.
We will see..
Posted Using INLEO
This is fascinating — the Strait of Hormuz opening, and instead of a price dump, Bitcoin breaks upward. That's the opposite of what many expected.
I'm still learning how geopolitical events move crypto, so watching this unfold in real time is educational. The fact that both stock markets and Bitcoin pumped, while oil prices dropped — that's not the typical pattern, is it?
You mentioned you were waiting for a breakdown, but instead we got a breakout. How does that change your outlook? Are you seeing this as a short-term reaction or the start of something bigger?
Thanks for sharing your analysis — it helps learners like me understand how unexpected news can shift markets.
Well actually, the strait opening is good thats why it rises stocks and BTC. Oil went up only because they closed the strait…. So, if it opens, of course oil drops… its logic