# Crypto Technicals: BTC/USD erases losses, reclaims $7300 after major US-Iranian escalation

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/4672
Published: 2020-01-03T11:12:35.000Z
Updated: 2020-01-03T11:12:35.000Z
Section: Investing

> In a sudden turn of events, Bitcoin price swiftly reversed losses and rallied over 6%.

[BTC/USD](<https://www.tradingview.com/symbols/BTCUSD/>) chart - Trading View

Exchange - Coinbase

In a sudden turn of events, Bitcoin price swiftly reversed losses and rallied over 6%.

The move followed news of a US missile strike on Baghdad airport killing Iranian General Qassim Soleimani.

Heightened geopolitical tensions could continue to fuel anti-risk sentiment which may limit upside.

BTC/USD has broken above 200H MA and technical indicators on the intraday charts seem to be shifting in favour of upside.

Major trend still remains bearish. Near-term momentum could see test of 55-EMA at 7557.

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