- Bitcoin Gains Momentum Amid Easing Geopolitical Tensions:


The United States and Iran announced they have reached an agreement expected to take effect on Friday. According to CNN, U.S. President Donald Trump stated that the agreement includes lifting the maritime blockade imposed on Iranian ports and reopening the Strait of Hormuz, removing the chokehold that was hindering global oil and gas supplies. However, the full text of the peace deal has not yet been published.

CNN reported that the ceasefire agreement reached in early April will be extended for 60 days, in terms of duration and scope, allowing the U.S. and Iran to continue nuclear negotiations.

Meanwhile, the Iranian National Security Council announced the immediate lifting of the U.S. maritime blockade and anticipated a halt to hostilities on all fronts, including Lebanon. However, the Lebanese National News Agency reported ongoing Israeli airstrikes in various southern Lebanon areas, even after the announcement of the agreement.

It appears that investors welcomed the preliminary peace deal, as market sentiment showed a significant improvement. Bitcoin's price rose to nearly $66,000, showing potential to continue climbing toward $70,000. Nonetheless, overall short-term outlook remains negative, with the spot Bitcoin price below the middle Bollinger Band at around $66,502, and well below the 50, 100, and 200-day exponential moving averages (EMAs), which are clustered between approximately $70,700 and $78,800.

At the same time, market momentum remains mixed, as the Moving Average Convergence Divergence (MACD) indicator turned positive on the daily chart, while the Relative Strength Index (RSI) stabilized near 42. However, the recent rally lacks a clear strong trend as long as the price remains confined within these boundaries.

Daily chart of BTC/USDT pair
Looking at the bullish trend, initial resistance appears at the middle Bollinger Band near $66,500, followed by the 50-day exponential moving average at around $70,700, then the 100-day exponential moving average near $73,300. On the downside, stronger support is only seen at the lower Bollinger Band, around $56,900, where the market could experience a deeper correction if the current rebound declines further.
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Before00zero
· 06-15 14:21
The price of Bitcoin stabilizes above $65,000, driven by improved sentiment after the United States and Iran confirmed a preliminary peace agreement.
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