Bitcoin Price Slides As Bombs Rain on Gaza And Deaths Toll Rise

Oct 11, 2023 04:00 am Cryptocurrency 96

Bitcoin price is moving lower below the $27,200 support. BTC could decline further if the Israel-Hamas war escalates in the near term.

Bitcoin is moving lower and showing bearish signs below $27,500.

The price is trading below $27,500 and the 100 hourly Simple moving average.

There is a key bearish trend line forming with resistance near $27,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could accelerate lower below the $27,000 support in the near term.

Bitcoin Price Starts Descend

Bitcoin price failed to gain pace above the $27,800 resistance. BTC reacted to the downside amid rising Israel-Hamas tensions. There were more than 1200 deaths reported already by Israel.

The price is moving lower below the $27,500 pivot level. There was also a downside break below the 76.4% Fib retracement level of the upward move from the $27,185 swing low to the $28,284 high. More importantly, the price traded below the ..

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