Bitcoin Price Continues to Decline Amid Rising Israel-Hamas Tensions
Bitcoin price is showing bearish signs as it moves lower below the $27,200 support level. The ongoing conflict between Israel and Hamas is contributing to the downward movement, with the potential for further decline if the situation escalates in the near term. The price is currently trading below $27,500 and the 100 hourly Simple Moving Average, indicating a bearish trend. Additionally, there is a key bearish trend line forming with resistance near $27,550 on the hourly chart of the BTC/USD pair. If the price fails to recover and surpass the $27,500 resistance level, more losses are expected, with immediate support at $27,000 and the next major support at $26,500.
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