- Bitcoin reacted to Iran war news by falling to a key support zone near $102,500, briefly rebounding afterward.
- The price aligns with the 50-day EMA and a demand zone, with a daily close below $102K signaling further downside potential.
- The Accumulation/Distribution line holds steady at 12.68M, indicating stable interest from large-scale participants despite market turbulence.
Bitcoin’s price declined following reports of war in Iran, briefly testing a key support area before showing a short-term rebound. Market participants are watching closely for the next directional move.
Bitcoin Drops as Iran War News Unfolds
Crypto VIP Signal™ reported that Bitcoin experienced a sharp drop after news of conflict in Iran surfaced. The price moved down to test a lower support level before recovering slightly. The tweet emphasized the importance of monitoring how the situation develops, as further escalation could influence market movement.
The tweet also pointed to $103,000 as a critical level. A break below this threshold could send the price toward the next support range between $100,000 and $101,000. The price response in the coming sessions may depend on developments in the region.
Price Action Nears Crucial Technical Zone
The BTC daily chart shows the price testing a support range between $102,500 and $104,000. This zone aligns with the 50-day EMA, currently positioned at $102,496, and a historical demand area previously marked by strong buying interest. Bitcoin has shown a sequence of lower highs since its peak near $112,000 in late May.
Despite a recent -0.86% decline, the price has not closed below the 50-EMA. A daily close beneath $102,000 would indicate a potential trend shift. If the current level holds, there is room for a move back toward $107,000 or a retest of $112,000. A breakdown below the highlighted zone may lead to further retracement toward $98,000.
Accumulation Indicator Remains Unchanged
The Accumulation/Distribution (A/D) line holds steady at 12.68 million. This level has remained consistent despite recent volatility in price. The A/D reading provides a view into volume flow and positioning across larger market participants.
