Bitcoin Price Plummets Amid Geopolitical Tensions, Initiates Promising Recovery

Bitcoin experienced a drop on a 30-minute chart following reports of Israeli retaliatory strikes on Iran's military and industrial infrastructure. Despite the tension, Iraq has not responded yet. The price had been trading steadily around $64,000 before plummeting to around $60,000, only to recover to nearly $62,000. This dip presents a potential opportunity to purchase BTCUSD at a 3-4% discount as we approach the halving period. I plan to increase my long position, viewing this as a chance to either average down or establish a strong foundation for the anticipated price surge. My initial profit-taking target for 10% of the position is set at $66,800, with a revised stop-loss level based on Fibonacci levels.

BTCUSD is showing a gradual upward movement, with the stop loss being adjusted accordingly. It's advisable to exercise patience and monitor for potential weekend volatility.