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The #crypto market was relatively quick to digest the sell-off that gripped markets following Israel's attack on Iran. The cap rose 4.7% in 24 hours to $2.33 trillion, but this is down from $2.62 trillion seven days earlier.

Halving and strong technical support are supporting a 'buy on dips' pattern in Bitcoin, and this is affecting the rest of the cryptocurrencies. The halving will take place on Saturday night. The technical picture now suggests that BTCUSD is successfully holding within a corrective pattern, finding support on dips to the 61.8% Fibonacci retracement level of the rally from the January lows.
However, bullish positions are not as strong as they were earlier in the month, with the 50-day moving average acting as resistance. A strong rally above $67 will be needed to overcome this bearish signal.

The #crypto market was relatively quick to digest the sell-off that gripped markets following Israel's attack on Iran. The cap rose 4.7% in 24 hours to $2.33 trillion, but this is down from $2.62 trillion seven days earlier.

Halving and strong technical support are supporting a 'buy on dips' pattern in Bitcoin, and this is affecting the rest of the cryptocurrencies. The halving will take place on Saturday night. The technical picture now suggests that BTCUSD is successfully holding within a corrective pattern, finding support on dips to the 61.8% Fibonacci retracement level of the rally from the January lows.
However, bullish positions are not as strong as they were earlier in the month, with the 50-day moving average acting as resistance. A strong rally above $67 will be needed to overcome this bearish signal.


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